Gear Energy (GXE) has notable insider buying

Gear Energy (T:GXE)

Don Gray, a Director and 10% Holder executive, acquired 200,000 Common Shares on a direct ownership basis at a price of $0.740 through the public market on August 11th, 2017. This represents a $148,000 investment into the company's shares and an account share holdings change of 7.7%.

Gear Energy Ltd. is an exploration and production company with heavy and light oil production in Central Alberta and West Central Saskatchewan. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. The Company's properties include Paradise Hill, Wildmere Cummings, Wilson Creek and Hoosier. Its Paradise Hill property is a heavy oil pool northeast of Lloydminster that produces from the McLaren zone, which consists of approximately 6.5 sections of prospective land with two overlapping sandstones, which are each approximately three meters thick. Its Wildmere Cummings property is a heavy oil pool southeast and northwest of its original Wildmere Lloyd pool. Its Wilson Creek property is located in Central Alberta. The primary target zone is the regional Basal Belly River formation, which is a light oil pool that requires hydraulic fracturing. Its Hoosier property is located in southern Saskatchewan.