Gear Energy Ltd T.GXE

February monthly update

[yycimport]

It's posted on their website now.
highlights:
Reduced debt $1.8M
srull have excess 10,000bbl that will be sold in March
https://gearenergy.com/wp-content/uploads/2022/03/2022-February.pdf

[yycimport]

*still

[jleer42]

I had been hoping for a bigger drop in debt, but the differerece was put to capital and abandonment, so not like it was wasted. With approximately $1M of excess oil inventory, higher oil prices, and more days I would expect to have a March funds from operations in excess of $7M. All-in-all it is still looking good and there should be good things to come in Q2, hopefully, around the time of the

[meritmat]

Think there still siting on there 10000 bbl.  The price was over 100 for wcs.   So there 9-10 million there sitting on?

[EstevanOutsider]

Wonder how they'll manage higher OFS costs? These guys ate struggling to maintain 5500 bbld. I don't understand the love affair with this name. Would love to hear the thesis.

[Gord_Alberta]

Personal bias... My wife & I own nothing; except our stocks (90% paying monthly dividends) - plus almost a years worth of cash... Intrerest rates rise; stock market crashes; we do not care... We bought Gear Energy because this company should be debt free by July. It will then become part of our "dividend" portfolio...

[bubba9]

You could say the same of a lot of oil patch companies like Pipe, HWX, BTE etc. I'm a divvy guy myself and also like LBS and DGS (In moderation). ----Personal bias... My wife & I own nothing; except our stocks (90% paying monthly dividends) - plus almost a years worth of cash... Intrerest rates rise; stock market crashes; we do not care... We bought Gear Energy because this company should

[CandyC]

Gear should be debt free hopefully by the end of April  [/quote]

[geezer21]

"I don't understand the love affair with this name. Would love to hear the thesis." 80% profit margin, in the top 10 most profitable in the oil patch.  You can check that fundamental with your on-line broker.  10,000 bbl in inventory to be sold at elevated prices this month. Production increased latest year and scheduled to increase in 2022 Growing Funds from