Gear Energy (TSE:GXE) has released an update.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Gear Energy Ltd. is undergoing a strategic transformation with the sale of its heavy oil assets for $110 million and the creation of a new entity, Lotus Creek Exploration Inc., which will focus on light oil assets in Central Alberta and Southeast Saskatchewan. This move aims to crystallize shareholder value and pivot towards high-potential growth areas. Lotus Creek will be listed on the TSX Venture Exchange, with promising 2025 budget guidance and reserve evaluations.
For further insights into TSE:GXE stock, check out TipRanks’ Stock Analysis page.