Gear Energy Ltd T.GXE

Heavy Oil Production

[greyowl]

is steady to slightly increasing the last eight quarters. See latest Management discussion report. Range 3150 bbls day to 3550 bbls day in last qtr. Correct me if I am wrong or missing something.

[tylerreddick]

They probably spent a lot of money to boost that production to make the assets look more attractive to the buyer. One would have to know just how much capital was spent to accomplish that. Meanwhile, it seems that I am not the only one who figured the bottom was in. My beer-money bet will buy a lot of beer if this keeps up for a few days. :o)

[greyowl]

Does nobody here read the financial statements? Page 19 of the last MD&A Table of last 8 quarters indicates heavy oil production stable to slightly UP - not down. Financial performance fairly stable (depending on commodity cost) Nothing statnds out in terms of higher costs Light Oil is down almost 20% in last Qtr but fairly stable before that They do have a $60M well retirement liability

[tylerreddick]

Well, one quarter they put "medium" oil in with light, the next they put it in with the heavy. Pretty hard to make any conclusions with that going on.