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 > Q1 Earnings

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Comment by Quintessential1on May 02, 2024 11:21am

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Post# 36019600

RE:RE:RE:RE:RE:Q1 Earnings

Sticking with divs until the debt is lowered.

The debt cost more to service than the divs cost and with a lower spread and higher WCS price the debt will come down faster aided by lower debt service costs. It is a good kind of vicious circle.

Then buybacks aplenty as I do not see management making the same mistake of an unsustainable dividend by raising it again.

I think this ER probably just put them back on the acquirable watch list too.

GLTY and all