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Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil recoveries through the application of water flood technology. The key properties in the Central Alberta Light asset include Wilson Creek, Ferrier, Killam, Drayton Valley, and Chigwell.


TSX:GXE - Post by User

Comment by jleer42on Mar 19, 2022 11:09am
281 Views
Post# 34527752

RE:February monthly update

RE:February monthly update

I had been hoping for a bigger drop in debt, but the differerece was put to capital and abandonment, so not like it was wasted. With approximately $1M of excess oil inventory, higher oil prices, and more days I would expect to have a March funds from operations in excess of $7M.

All-in-all it is still looking good and there should be good things to come in Q2, hopefully, around the time of the May monthly update.

I know this is a smaller under the radar company, but I would have expected the start of some noise around it as the $0 debt goal gets closer and closer.

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