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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 > Another 7 weeks of SPR
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Post by lovehockey on Sep 06, 2022 1:24pm

Another 7 weeks of SPR

Don't kid yourself, next 7 weeks will be meh for GXE and other Canadian oil producers. Biden's SPR releases hurt Canada the most because we are vulnerable when Biden dumps sour oil from SPR to their own market. As a result all energy investors are waiting to see what is going to happen next. The volumes are low because nobody is really buying nor selling so we are in stalemate. It is hard to imagine that GXE share will be available below $1.20 in high quantities but also because of lack of buying power I don't see GXE go over $1.30 in the next several weeks. So just a little prediction - next two months will suck in terms of trading and very boring. Take a vacation and come back in December, it will be on fire!
Comment by BBAccount001 on Sep 06, 2022 1:30pm
Hopefully China lifts all their lockdowns as well before Xi's next coronation on October 16. Reduced supply from SPR and increased demand from China should, in theory, be a boon to oil prices.