Bullboard - Stock Discussion Forum 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... see more

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TSX:GXE - Post Discussion

Gear Energy Ltd > Monthly Update

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Post by jleer42 on Aug 21, 2023 7:20pm

Monthly Update

July Monthly Update is posted. Funds from operations increased month/month by 1.5MM, while the debt increased by 1MM. This was the last month with the $0.01 dividend; with the increasing WTI the debt should start to decrease next update. With funds more based on futures than spot prices, Sep should be better than Aug. I don't see the GXE SP moving appreciably until Q3 numbers come out.

https://f8d829.p3cdn1.secureserver.net/wp-content/uploads/2023/08/2023-August.pdf

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Comment by astutein on Aug 21, 2023 10:48pm

is .05 cents dividend sustainable while net debt increased by 1 million.?

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Comment by kraftdinner on Aug 22, 2023 1:27am

I am unable to answer your question simply as I am unable to predict their profitability and the results of their field activity for the upcoming quarter. Using an annual dividend of 0.06 cents per share and the 2nd quarter results I calculated the folowing numbers. Profit for the Period 5555000 Operating Cashflow 13316000 Funds ...more

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Gear Energy Ltd