Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on GEAR ENERGY LTD. We currently have 23 research reports from 1 professional analysts.
|15Feb17 21:37||MKW||Gear Energy Ltd. Announces Fourth Quarter and Full Year 2016 Operating Results|
|15Feb17 21:33||MKW||Gear Energy Ltd. Announces Year-End Reserves|
|28Mar16 22:07||MKW||Gear Energy Ltd. Announces $10 Million 2016 Capital Budget|
|18Feb16 00:19||MKW||Gear Energy Ltd. Announces Year-End Reserves|
|18Feb16 00:14||MKW||Gear Energy Ltd. Announces Fourth Quarter and Year-End 2015 Results|
|01Feb16 22:57||MKW||Gear Energy Ltd. Announces 2015 Operational Update and Revised 2016 Outlook|
|30Nov15 14:19||MKW||Gear Energy Ltd. Announces Closing of $25.8 Million Financing|
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Research reports on
GEAR ENERGY LTD
GEAR ENERGY LTD
Gear Energy Expands 2016e Drilling Program on Unchanged Budget
09 Sep 16
Corporate production levels reported to date for 3Q16e are consistent with our current estimate of ~5,460 boe/d. Capital cost reductions have made room for 2x additional heavy oil wells to be drilled before the end of the year and within the Company’s prior $12.5 mm budget. Gear remains on track to achieve its previously discussed exit target of 6,400 boe/d in December. Given no material changes to our near term outlook, we are maintaining our 12-month target price of $1.00 per share alongside an Outperform recommendation.
ANNOUNCES 2016 OPERATIONAL UPDATE
08 Sep 16
Impact: Positive. Outperformance and capital cost reductions at Gear's Wildmere and Paradise Hill properties will see the Company add 2x wells to its 2016e development program without increasing its 2016e budget, while remaining on track to achieve its prior exit rate of 6,400 boe/d.
Gear Reports Second Quarter Results
04 Aug 16
Gear reported second quarter financial and operating results that were ahead of expectations. The Company reiterates its intent to reinitiate drilling activities this summer with no changes to its guidance. There are no material changes to our 2017e forecast on receipt of its report, and as such our $1.00/sh 12-month target price and Outperform ranking are unchanged.
2Q16e Quarterly Preview
26 Jul 16
Some Recovery on Segmented Cash Flow Generation Over Q1 Though Still Down 56% Y/Y. In aggregate, the Intermediate, Mid, and Small Cap groups are expected to generate 2Q16e cash flow of $1,281 mm, $183 mm, and $53 mm, or $1.517 billion in total, that while depressed relative to the same period last year (~$2.647 billion combined), is up 17% sequentially from the prior quarter, largely on the strength of crude oil price recovery in the period. Severely weak natural gas pricing picture markedly reversed into summer, market likely to ignore financials for natural gas producers and look ahead to winter and formalization of sell-side 2018e estimates in coming months. Spot AECO natural gas prices recently crested C$2.60/mcf, and with a reasonable alignment of previously distressed NE BC Stn2 differentials, augmented by a withdrawal expected next week, view the market psyche as constructive and looking ahead, with the analogy that this market is shaping up to mirror 2012 still holding. That said, with crude oil poised to retest support levels, combined with strong stock price performance broadly observed YTD, we would characterize sentiment as slightly pessimistic in the near-term which could reduce or unwind momentum-based investment strategies that have worked thus far in 2016.
Acquires Striker Exploration Corp
07 Jul 16
We are providing a revised forecast subsequent to a research restriction period following Gear’s $20.1 mm equity financing, issuing ~28.8 mm shares at $0.70/ sh concurrent with its announcement of its intent to acquire Striker Exploration Ltd., a smaller public corporate entity with assets in central Alberta, via a plan of arrangement that we value at ~$67 mm. Citing a markedly improved financial position, a compelling valuation and the resumption of its E&D efforts in 2H16e, we are increasing our 12-month target price to $1.00/sh and reinstating an Outperform ranking.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Opuama production restarts
21 Feb 17
Eland has confirmed the successful restart of exports from OML 40 through the new shipping alternative that it has implemented. Sales from the export terminal are expected imminently, re-establishing cash generation for Eland. Cash at YE16 was US$11.1m which has since reduced to US$5.9m, mainly reflecting initial operating expenses for the shipping alternative. While it is early days, Eland has demonstrated its ability to restart exports and production from OML 40 following the shut-down of the Forcados terminal a year ago. Production to date is averaging around 7kbd and we expect that to ramp up as Opuama operational performance improves. At US$55/bbl Brent, we estimate Eland is generating a net cash margin of around US$25/bbl. We reiterate our Buy recommendation and 95p per share Target Price.
Small Cap Breakfast
24 Feb 17
GBGI—Schedule One update from integrated provider of international benefits insurance. Raising £32m at 150p. Admission expected tomorrow. Anglo African Oil & Gas— Admission expected early March. Acquiring stake in producing near offshore field in the Republic of the Congo. Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb.
Operating update and shareholder activism
15 Feb 17
December and January have seen the emergence of shareholder activism at Bowleven (BLVN), bringing its strategy and management into greater focus. Its largest shareholder (Crown Ocean Capital, COC) evolved from being a supportive shareholder to voting against a number of resolutions at the December AGM, to recently calling for the widespread removal of the board and a radically different company structure. Operationally, the company reports that a new development concept is under review by the stakeholders in Etinde, where production would be piped to existing gas processing facilities in Equatorial Guinea. Such a solution would (if approved) require significantly less capex and could be brought online relatively quickly vs other solutions (fertiliser, FLNG, gas to power). We leave our valuation largely unchanged, save for a revision to cash holding to reflect the recent operational update. Our new core NAV is 49p/share.