Gear Energy Ltd. reported production results for the first quarter ended March 31, 2024. Production for the first quarter was 5,714 boe per day, a four per cent decrease over the 5,952 boe per day reported in the first quarter of 2023 and a five per cent decrease from the fourth quarter of 2023 of 6,000 boe per day. The decrease in production is due to the extreme cold snap in January 2024 that temporarily froze off approximately 25 per cent of Gear's production.

Production recovered and averaged approximately 6,000 boe per day for the month of March 2024.