Gear Energy: More On The Duvernay Sale

We have more information on the sale of the Duvernay land held by Gear. Final bids are to be submitted on or before June 21, 2018.

GXE Sayer Energy Advisors June 2018

Daily Oil Bulletin, May 24, 2018

Duvernay rights amount to 6,640 contiguous acres, situated in the oil window, and really close to land owned by both Vesta Energy and Raging River Exploration.

RRX Duvernay Land

Source: Raging River Exploration, March 2018 Corporate Presentation

The potential location of the lands of Gear are highlighted in the red circle above.

Those have the potential to be very valuable, especially for players like Vesta and Raging River. Both are already well-established in the play.

Those Duvernay rights are worth C$13M to C$20M at current market value.

Disclosure: I am long GXE. Not for republication on Seeking Alpha.

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