Gear Energy Ltd T.GXE

Buyback starts today

[lovehockey]

I am not sure how much money Gear will dedicate towards buyback given they still maintain the dividends but I can assume they can safely be buying up to 1 million shares at current oil prices. So will likely see 50k shares purchased a day on average. Usually the rules are they can only bid and not allowed to buy from ask side. Let's see how the trading patterns change in the next month.

[Maxmoe]

Not to worry, there are lots of nit picky rules but pretty much every one of them has an easy workaround or exemption. Eg. Daily purchase volume is limited EXCEPT for block trades. Translation : it's really not very restrictive. 

[lovehockey]

52500 shares were purchased via RBC - all for $0.66. That may be our guy. 

[NotThatBright22]

yea, I skimed though this and could not see a distinction suggesting buy back is only allowed on the BID side.  https://www.tsx.com/resource/en/447 Sorry...don't know how to paste the link.

[NotThatBright22]

They LOST .03c/share.  How will they support the divi?  And a buy back as well!

[tylerreddick]

They can't afford either, IMO

[Maxmoe]

You two need a lesson on financial reporting for energy producers, another on investing 101, and a third in maybe philosophy or physics to help you discern the difference between past, present, and future. Report back on the meaning and concept of time, I yearn for your insights. Meanwhile, based on your excellent analysis thus far you should not just sell all your stock, you should short it. If