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.

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Gear Energy Ltd > Gear Energy is selling too cheap.

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Post by hexlinkon Dec 10, 2023 2:03am

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Post# 35776694

Gear Energy is selling too cheap.

2,550,490 otc short interest (12 days to cover)
7,234,326 tsx short interest (11 days to cover)
Shortseller chatter: https://ca.finance.yahoo.com/quote/GXE.TO/community?p=GXE.TO

Forward dividend 9%

2024 BUDGET GUIDANCE

The Board has approved a 2024 capital budget of $57 million dollars designed to target the following four key strategic goals:

Three to four per cent annual production growth through investment into core area drilling and waterflood opportunities;
Continuation of the half cent per share monthly dividend;
Maintenance of the strong balance sheet; and
Continued commitment to improving Gear's environmental footprint through abandonment and reclamation activities