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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 Dec 06, 2023 1:33pm
187 Views
Post# 35771395

Buyback math

Buyback mathNCIB typically would allow to purchase 10% of the total shares so 26 million of shars can be purchased. In current situation they can be buying 2.2 million shares by spending only $1.45 million. It is peanuts. The management must use the current situation where the oil prices are heavily manipulated even thought the SPR and floating storage are empty and WTI inventories are 1% below 5 year average for this time of the year. This window of opportunity MUST be used right now as this may not last long. 
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