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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

Post by lovehockeyon Oct 24, 2023 6:45pm
262 Views
Post# 35699194

Easily $3 stock under current conditions in 2024

Easily $3 stock under current conditions in 2024- WTI/WCS at current levels
- Fully debt free (expected to be April 2024)
- Continue $0.005 base dividend monthly
- Add flexible special dividend quarterly ($0.015 that could go to $0.03 with higher oil prices)
- Add buyback and start purchasing small amounts of shares monthly - no more than 1 million shares
- Capex at $4.2mln monthly as was suggested in Q2 report ($50mln annually)
- Production should be closer to 6500 boed

The biggest factor in share price increase in current situation will be buyback pressure as there is a downward pressure from wash traders who constantly sell the stock to themselves (to the bid side). Having Gear buy 200,000 shares a week will take care of that as the current volumes are nonexisting. After 2-3 months of buybacks the daily volumes will go back to normal and it will likely lead to a quick share price increase. As long as the company can manage all of that without increasing debt the stock will eventually hit $3. Remember in 2014 it was around $6.
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