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Bullboard - Stock Discussion Forum 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... see more

TSX:GXE - Post Discussion

Gear Energy Ltd > Dividend should be ~0.028c per share based on the updates
View:
Post by OilyOx on Jul 18, 2022 6:17pm

Dividend should be ~0.028c per share based on the updates

They committed 30% of FCF to shareholders.
FFO= 33.8
Capex=9.2
FCF= 24,600,000*30%= $7,380,000/~258,000,000 Shares = 0.0286c
The numbers look good but the update was PERPLEXING. Several paragraphs about the pros of becoming debt free to say they will become net debt again if the opportunity arises? WHAT is this contradictory information?! Poorly articulated to say the least!
Comment by Betteryear2 on Jul 18, 2022 6:41pm
The release states: There are several merits in a zero net debt capital structure. 1. Volatile and cyclical nature of commodity markets 2. Structure of our credit facilities 3. Full control of our business 4. Strategic and opportunistic acquisitions It  also states that "Should the right opportunity present itself, Gear will find itself entering into a net debt position in the future ...more  
Comment by Luckyeleven on Jul 18, 2022 6:49pm
Totally agree!! This is a head shaker lol.
Comment by Jenser on Jul 18, 2022 7:03pm
Maybe that's why Nuttal bailed, CEO and board are immune to the 'return max cash to shareholders' message. Hopefully someone has mercy and buys them out before they manage to skrew it up again with taking on debt and making silly aquisitions.
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