Gear Energy initiates process to divest all its British Columbia assets

Gear Energy Ltd., a focused heavy oil producer in Alberta and Saskatchewan is initiating a process to divest all of its assets in British Columbia

Highlights include:

• Production of ~50 boe/d (Nov 15)
• Approximately 75 km2 proprietary 3D seismic (prepared to sell separately)
• Approximately 10,500 net total hectares (8,500 undeveloped, 2,000 developed)
• No tenure issues for 2016 or 2017
• Draft GLJ 2015 reserve report
• Positive Liability Rating
• Upside opportunities identified

Land schedule will be provided without the execution of a Confidentiality Agreement. Other items to be provided upon execution of a confidentiality agreement.

Although Gear’s preference is to dispose of these assets as a whole, offers on portions of the assets will be considered.

Bid deadline will be February 3, 2016.

Should you be interested, please contact Yvan Chretien at 403-538-8464, or ychretien@gearenergy.com.