Gear Energy (TSE:GXE) has released an update.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
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.