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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 tylerreddickon Dec 18, 2024 10:35am
77 Views
Post# 36367977

The big unknown

The big unknownThe big unknown is just how much cash will Newco get?
The presentation uses $20 million, reflecting total transaction costs and debt repayment at $10 million. 
But is that realistic, considering GXE had $15 million in debt alone last quarter?
What if Newco only gets $10 million, or less? That would change the equation drastically.

Until GXE puts out the full information circular on the transaction, anyone buying today is doing so with only partial and questionable information.

I had actually considered buying some today, but then gave my head a shake. Why would I buy without knowing exactly what I was getting, and why would I buy knowing I will be forced to take shares in a company run by the same folks who destroyed GXE's share price.
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