Genel Energy Share Discussion Threads

[newswseller] 13/9/2016 17:37

Sparky you want them to RNS saying that they haven't had payment? What's the point in that, everyone knows they (GENL) have no control over when they receive the payments, so what would u expect them to say

[w1ndjammer] 13/9/2016 15:18

the intraday low 28th july was 85p I will have me a few more if we get down there
closed at 91.5p

WJ.

[rhatton] 13/9/2016 15:17

Out of that $60 mil how much should have gone to Genel?

[cyan] 13/9/2016 15:16

Yes W!NDJAMMER; That appears pretty clear and I even double checked with my calculator.
Suggests payment has been made. No RNS. Odd

Brent $47.27

[w1ndjammer] 13/9/2016 15:12

DNO Drilling New Tawke Wells on Back of Profitable Second Quarter




Oslo, 18 August 2016 - DNO ASA, the Norwegian oil and gas operator, today announced a second consecutive quarter of operating profits and the launch of an aggressive drilling campaign at the company's flagship Tawke field in the Kurdistan region of Iraq.
The company's operated production in the second quarter climbed 27 percent to 122,900 barrels of oil equivalent per day. Tawke production stood at 117,000 barrels of oil per day, nearly all of which was exported at an average price of USD 34 per barrel.

[w1ndjammer] 13/9/2016 15:07

well I wasn`t dreaming here it is 60 mill what are GENL doing have they fell asleep?

[sparky333] 13/9/2016 14:55

Tempted myself for the same reason, but until I see some strength just nervous we have yet to bottom.

[w1ndjammer] 13/9/2016 14:49

having a great run on JPR so bought more of these lets see if some of my luck rubs off.

that note I posted the other day says the contractors have been paid 60 mill
for August so something must be bubbling in the background.

WJ.

[cyan] 13/9/2016 14:21

Is this near the bottom? I note Brent is moving again , now $47.64. Yes, I know we need to get paid.
I will just have to keep reloading.

[doshdabbler] 13/9/2016 14:12

Yes, needs a double bottom. Shorters will want nothing less.

[tsmith2] 13/9/2016 13:49

What we need is capitulation here

[pogue] 13/9/2016 13:39

I have set a limit buy at lower than this we are going to bounce around 89p I reckon.

[cyan] 13/9/2016 13:26

What did Buffett say about what you do when others are fearful? I have .

Brent $47.38

[sparky333] 13/9/2016 12:49

SOU energy market cap now nearly double Genel.Awesome.

[sparky333] 13/9/2016 12:37

Or is the silence due to some deal being worked out and a mega deal between GKP and Genel.?This has been in the back of my mind for sometime.Would the market like a deal like this ? I do not know but an interesting one if an offer was tabled for a paper deal and would create a company sat on unrivalled assets and pumping well over 100k a day which could be ramped up considerably within 5 years with the right partners.But I would want more control on revenues in paid in oil rather than bank transfers from bloody turkey. This is the sort of deal Rothchilds are famous for, major control !!!

[sparky333] 13/9/2016 12:24

And why after 2 months of no payment have we as shareholders not been informed ? I hold 50,000 shares bought at 79p and very close to selling and never investing in Kurdish oil again. GKP made my fortune and I am thankful for that and Genel at 79p I just could not resist, but this nonsense is just destroying world class companies.

[sparky333] 13/9/2016 12:21

It's vicious circle and the only ones losing is me and you.Genel BOD do not care IMHO.

[sparky333] 13/9/2016 12:20

I agree Cyan, but this is what drives me insane. The Iraq oil ministry still does not recognise MNR contracts whilst also refusing to pay national budget allocation. Also Iraq pays the IOCs in oil not cash whereas the MNR control the whole shooting match and we have a begging bowl.The MNR want total control which is plain wrong. So who is settling the MNR IOC debts which I expect is a good $1.5b Ish the answer is no one. So to be honest I think the end of Sept will come and go Iraq will settle debts but not MNR IOC debts. Again just plain wrong.

[sparky333] 13/9/2016 10:22

Well Cyan, something must be going on as mid September now and still no August payment and never mind July July payment which has been and gone and no RNS Would be great to get an RNS saying $400m paid, because that would certainly set a fire under the share price But can you really see this happening ? If not and no payment by the end of Sept Genel have to RNS an update as this would be over $60m in lost revenue with outstanding monies over Half a billion dollars

[cyan] 13/9/2016 10:09

This article from March this year provides insight into the financial situation facing the KRG . Lets see what the end of September brings.



Brent $47.37

[hawkey2] 12/9/2016 20:52

20 (+1) GOLDEN REASONS TO BUY GENEL

World Class Management (Nat Rothschild Tony Hayward, Ozgul, Monuhan)
Morrocan drills
New Iraqi Oil Minister
Debt to Equity less than 1
Possible Kurdistan Indépendance vote
Some of lowest Production cost in the world.
2D Seismic to start in Somaliland in December (massive area)
Peshkabir to be skidded in October
Payment of Approx 25$ million due any day now.
Massive Gas fields development being planned
Market cap 7x less net assets
IMF Loan of 5.4$ Billion to Iraq to pay all Iraqi Oil companies
2.5 billion dollars in net assets
Oil over 50$ a barrel.
Tawke gross production up to 135k bopd from Jan 2017
Approx 150-200k extra oil per day through pipeline
Over 400$ million dollars in the Bank
10% owned by Major Turkish Energy company
Oil & Gas law negotiations this week
ISIL on verge of being defeated
Worldwide Production deal being discussed