Gear Energy Ltd.
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- Gear Energy Ltd., a Canadian exploration and production entity, has historically cultivated interests in petroleum and natural gas properties throughout the nation. In a significant corporate development, the company completed a strategic plan of arrangement in early February 2025. This transformative transaction involved the acquisition of Gear Energy Ltd. by a major publicly traded company, resulting in Gear becoming a subsidiary of Cenovus Energy Inc.. Concurrently with this acquisition, Gear Energy Ltd. spun out a substantial portion of its assets, including its holdings in Central Alberta, Southeast Saskatchewan, and the Tucker Lake property, into a newly established independent entity named Lotus Creek Exploration Inc.. Lotus Creek Exploration Inc. is set to carry forward the operational and growth objectives of the former Gear management team, focusing on high-potential assets. The core properties now held by Lotus Creek Exploration Inc. are strategically situated in regions known for their resource potential. These include light oil assets in Central Alberta, the Bakken/Torquay light oil play in Southeast Saskatchewan, offering waterflood opportunities, and undeveloped heavy oil rights at Tucker Lake in the Cold Lake oil sands region. As of November 30, 2024, the reserves for Lotus Creek Exploration Inc. included 2,830 thousand barrels of light crude oil, 471 thousand barrels of natural gas liquids, and 4,280 million cubic feet of conventional natural gas. The company maintains its headquarters in Calgary, Alberta, Canada.
Gear Energy (OTCMKTS:GENGF) Shares Down 3.2% – Time to Sell?
Gear Energy Ltd. Announces Completion of Previously Announced Plan of Arrangement and Transfer of Assets to Newly Formed Lotus Creek Exploration Inc.
Gear Energy Ltd. Announces Shareholder Approval for Plan of Arrangement
Gear Energy Ltd. Reiterates Voting Instructions for Shareholder Meeting and Announces Leading Proxy Advisor Recommends Voting for Arrangement
Gear Energy Ltd. Announces New Corporate Presentation to Shareholders
Gear Energy Ltd. Announces Name of Spin-Out Company, 2025 Budget, Updated Reserves and Shareholder Meeting Details
Gear Energy Ltd. Announces New Corporate Presentation to Shareholders
Gear Energy Ltd. Announces a Transformative Transaction Providing Shareholders with Liquidity and Retained Ownership in a New Growth Focused Oil Company and Monthly Dividend
Gear Energy Ltd. Announces Third Quarter 2024 Operating Results
Gear Energy Ltd. Confirms Monthly Dividend for November of $0.005 per Share
Gear Energy: Growth Ahead
Gear Energy Ltd. Confirms Monthly Dividend for October of $0.005 per Share
Gear Energy Ltd. Confirms Monthly Dividend for September of $0.005 per Share
Gear Energy Ltd. Announces Second Quarter 2024 Operating Results and August Monthly Dividend of $0.005 per Share
Gear Energy Ltd. Confirms Monthly Dividend for July of $0.005 per Share
Gear Energy Ltd. Confirms Monthly Dividend for June of $0.005 per Share
Gear Energy Ltd. Announces Appointment of Scott Robinson as Chair of Board of Directors
Gear Energy Ltd. Announces First Quarter 2024 Operating Results
Gear Energy Ltd. Confirms Monthly Dividend for May of $0.005 per Share
Gear Energy Ltd. Reminds Shareholders of Upcoming Shareholder Meeting and Advises of Unanimous Support from Two Leading Independent Proxy Advisors