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.
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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.
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.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
10 for 17
09 Jan 17
As always at the start of a year, there are significant uncertainties about the year ahead but I think in 2017, the level of uncertainly has decisively moved up a gear. In fact, a leading economist at the LSE, Ethan Ilzetzki, was recently quoted as saying “I view the current global economic environment as the most uncertain in modern history”. Wow.
GMP FirstEnergy ― UK Energy morning research package
10 Jan 17
GeoPark (GPRK-NYSE) 1,6; BUY, US$6.50: 4Q16 operations update and production results | Northern Petroleum (NOP LN)1; SPEC. BUY, £0.10: Results of open offer | Serica Energy (SQZ LN) (not covered): Operations Update | Roxi Petroleum (RXP LN) (not covered): BNG Operational update in Kazakhstan | Tullow Oil (TLW LN); REDUCE, £2.90: Transaction in Uganda frees up cash for Kenya | Eco Atlantic (EOC CN) (not covered): Intention to list on AIM –
19 Dec 16
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