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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 > GXE management plans on paying 0.005 divs
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Comment by Quintessential1on Mar 03, 2024 9:48am
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Post# 35911879

RE:RE:RE:GXE management plans on paying 0.005 divs

RE:RE:RE:GXE management plans on paying 0.005 divsMaybe you should work on tha actual reading and less of the financial report reading?

On an annualized basis, Gear forecasts its $0.005 per share per month dividend to total approximately $16.0 million. Gear estimates that WTI would have to average US$75 per barrel in order for FFO to equal the 2024 forecasted capital and abandonment expenditures of $57.0 million and the current annualized dividend. Any future increase in commodity prices beyond these base assumptions will provide incremental FFO less capital and abandonment expenditures and dividends which may be dedicated to potential future capital expansions, cash funded acquisitions, share buybacks and/or future dividend increases. Conversely, any future decrease in commodity prices may result in incremental debt, potential capital adjustments and/or future dividend reductions.

https://stockhouse.com/news/press-releases/2024/02/21/gear-energy-ltd-announces-fourth-quarter-2023-operating-results-and-year-end

GLTA
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