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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 downwithdotcom1on Dec 02, 2024 1:13pm
190 Views
Post# 36341047

RE:Painted Pony V2

RE:Painted Pony V2a range of NEGATIVE emotions all come back on that near criminal selling of Painted Pony at the time to Canadian Natural - it had some of the best assets and i would have been a lot richer today had thet remained a stand alone company. 

At that time, nat gas was in a long suffering price streak with little hope for recovery and their BOD used this excuse along with hopes of standard financing had iced over blah blah blah. Hugely opportunistic and CNRL feasted at the absolute bottom of the market as time has shown with the rebounds of most of its competitors.
Unfortunately with the help of the insiders , the deal went thru despite all the howls of outrage and i suspect this could too.

I'm a little surprised with this NEW-CO structure, with an even SMALLER profile. Eric "the entertainer" Nuttell commented on Gear more than once saying, its just too small to attract the interest of institutional buying to support the share price so why do this??

Surely, the name of the buyer has to come out at some point (not that it matters) but logically it would be someone gaining unique synergies from theses assets...maybe BOEREPORT intel will offer up clues...see what happens....dwdc


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