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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

Comment by lovehockeyon Nov 22, 2024 12:32pm
99 Views
Post# 36326207

RE:Conservative date for GXE being debt free - Feb 15, 2025

RE:Conservative date for GXE being debt free - Feb 15, 2025

I will do the debt countdown in here. As of Sep 31 it had a adebt of $5.1 mln dollars. In the Q3 of 2024 they were reducing the debt approximately by $40,000 daily. Making an estimation that they will continue dropping the debt at the same pace as of Nov 22, 2024 their debt should fall by $2.12 mln so Gear Energy debt may have just dropped below $3 mln to about $2.95 mln. 

Other expected milestones (yes, I am excited)
Dropping below $2 mln - around mid Dec
Dropping below $1 mln - around Jan 10, 2025
Debt free - Feb 12. 2025

 

Enjoy low price while it lasts!!!

 

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