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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

Post by scienceguy36on Dec 02, 2024 11:25am
320 Views
Post# 36340811

My understanding without the prospectus

My understanding without the prospectusMy understanding with limited info at this stage is "Newco" is a company being newly formed.
$80,000,000 cash to sharholders for all their shares - ($80,000,000 divided by 262 million shares is
.30 per share plus .30 worth of shares in the new company. December is the last dividend. Basically, Newco witll be the old Gear starting over at .30 cents per share with no dividend.
After 4 years being invested in Gear i am selling my 242,000 shares and shopping for another Dividend stock. GLTA
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