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Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Energy Oil & Gas E&P
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

Gear Energy Ltd > Dividend is not sustainable?
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Comment by pierrelebelon Jul 20, 2023 12:00pm
101 Views
Post# 35549820

RE:Dividend is not sustainable?

RE:Dividend is not sustainable?
astutein - please read the monthly update again - carefully

Debt at the end of first quarter (March) 15.3 million dollars

Debt at the end of second quarter (June)  14.3 million dollars

Results - REDUCTION of the debt by one million dollars

Conclusion - Payment of $0.01 monthly dividend is sustainable.

End of story

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