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Gear Energy Ltd T.GXE

Alternate Symbol(s):  GENGF

Energy Oil & Gas E&P
Gear Energy Ltd. is a Canadian exploration and production company with heavy and light oil production in Central Alberta, West Central Saskatchewan and Southeast Saskatchewan. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its properties include Celtic/Paradise Hill, Saskatchewan; Wildmere Area, Alberta; Wilson Creek, Alberta, and Tableland, Saskatchewan. The Celtic/Paradise Hill is located within Township 52, and Ranges 23 and 24 W3 and is approximately 40 kilometers northeast of Lloydminster, Alberta. The Wildmere field is located within Townships 47, 48 and 49, and Ranges 3, 4, 5 and 6W4, is approximately 200 kilometers southeast of Edmonton, Alberta. The property consists of approximately 24,325 gross (23,000 net) acres of lands. The Tableland property development is predominately focused on the Three Forks/Torquay formation, with minor production from the Bakken and Ratcliffe formations.


TSX:GXE - Post by User

Gear Energy Ltd > Great news for Gear - no acquisition, time to buyback!
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Comment by pierrelebelon Feb 06, 2024 10:10am
112 Views
Post# 35865125

RE:Great news for Gear - no acquisition, time to buyback!

RE:Great news for Gear - no acquisition, time to buyback!
Great News?

Think again.

"the Company expects to provide additional details of the NCIB in its press release... which is expected to be issued on or about February 21, 2024."

There is not enough money coming in to cover both a dividend and share buyvack. At that time I expect Gear will announce the suspension of the dividend and use the money allocated to the dividend to buyback shares. TNT.UN did the same a few months ago.
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