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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 > Easily $3 stock under current conditions in 2024
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Post by lovehockey on Oct 24, 2023 6:45pm

Easily $3 stock under current conditions in 2024

- WTI/WCS at current levels
- Fully debt free (expected to be April 2024)
- Continue $0.005 base dividend monthly
- Add flexible special dividend quarterly ($0.015 that could go to $0.03 with higher oil prices)
- Add buyback and start purchasing small amounts of shares monthly - no more than 1 million shares
- Capex at $4.2mln monthly as was suggested in Q2 report ($50mln annually)
- Production should be closer to 6500 boed

The biggest factor in share price increase in current situation will be buyback pressure as there is a downward pressure from wash traders who constantly sell the stock to themselves (to the bid side). Having Gear buy 200,000 shares a week will take care of that as the current volumes are nonexisting. After 2-3 months of buybacks the daily volumes will go back to normal and it will likely lead to a quick share price increase. As long as the company can manage all of that without increasing debt the stock will eventually hit $3. Remember in 2014 it was around $6.
Comment by petrolia1 on Oct 25, 2023 12:27am
they  had a lot  less shares back  than around  60 millions. Right now  they are  in no man's land.A micro cap bellow $1 many people  are restricted  from buying. They should focus more on buying back shares. Unfortunately  I have a position larger than some of their directors. Got sucked in when Eric nuttall  was promoting it.I also own a ...more