Certain information set forth on this website contains forward-looking statements or information (“forward-looking statements”) as defined by applicable securities laws, including management’s assessment of future plans and operations of Gear Energy Ltd. (“Gear”). By their nature, forward-looking statements are based on management’s estimates, opinions and assumptions at the time such forward-looking statements are made and are subject to numerous known and unknown risks and uncertainties, some of which are beyond Gear’s control, including the impact of general economic conditions; industry conditions; volatility of commodity prices, foreign exchange and/or interest rates; risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation; loss of markets; delays resulting from, or the inability to obtain, required regulatory approvals; inability to retain and delays in retaining drilling rigs and other services; currency fluctuations; imprecision of reserve estimates; environmental risks; competition from other industry participants; the lack of availability of qualified personnel or management; stock market volatility; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; and changes in laws and regulations including, without limitation, the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced. The foregoing list is not exhaustive. Readers are cautioned that the assumptions used in the preparation of such forward-looking statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The actual results, performance or achievement of Gear could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Gear will derive therefrom. Readers are encouraged to review the material risks discussed in Gear’s most recently filed annual information form, management’s discussion and analysis and other continuous disclosure filings located under its profile on www.sedar.com. Gear disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
BOE disclosure may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf to 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.