Gear Energy Ltd T.GXE

Alternate Symbol(s): GENGF

Energy Oil & Gas E&P

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.

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Gear Energy Ltd > Newco assets fall to the lowest since announcement

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Comment by houbahopon Dec 17, 2024 4:52pm

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Post# 36367011

RE:RE:RE:RE:RE:Newco assets fall to the lowest since announcement

NewCo has $13m in cash after the $7m transaction fee or $0.33 per Newco shares (40m shares basis).

The NewCo Oil & Gas assets are already trading negative.

In other words, at $0.46 per GXE share, the buyer of GXE shares is paid to buy those assets.

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