Genel Energy Share Discussion Threads

[shareho1der] 16/8/2018 10:48

Like I wrote yesterday, I hope hernando2 know when to buy back.

[scoble2] 16/8/2018 09:16

Kurdish Officials: Iraq, Turkey Can’t Export Kirkuk Oil Without Kurdistan Deal
By Tsvetana Paraskova - Aug 15, 2018, 2:00 PM CDT

Iraq and Turkey must reach a deal with the Kurdistan Regional Government (KRG) first in order to export oil from the Kirkuk fields in northern Iraq via Turkey, Kurdish officials told local media this week.
Around 300,000 bpd of crude oil previously pumped and exported in the Kirkuk province have been shut in since the Iraqi federal government moved in last October to take control over the oil fields in Kirkuk from Kurdish forces.
Before Baghdad seized control of the oil fields, the Kurdistan Region was exporting the crude oil via the Kurdish-operated pipeline to the Ceyhan port on the Turkish Mediterranean coast.

Earlier this week, Iraq’s Prime Minister Haider al-Abadi visited Ankara, where he discussed many issues, including oil exports via Turkey, with Turkish President Recep Tayyip Erdo?an.
According to the Kurdistan 24 outlet, the two leaders reportedly reached an initial deal to sell Kirkuk’s crude oil via Turkey, possibly through a new pipeline closer to the Syrian border that would cross only a small portion of land controlled by the KRG.
Kurdish officials, however, argue that Turkey and Iraq will need first to strike a deal with Kurdistan before proceeding with plans to export Kirkuk’s oil.
“It is in the best interest of Baghdad to resume the export of Kirkuk’s oil through the Kurdistan Region’s pipeline as they would benefit more from the revenue than the KRG,” Rebwar Talabani, the head of the Kirkuk Provincial Council (KPC), told Kurdistan 24. According to the Kurdish official, it is ‘unrealistic’ to think that Iraq’s federal government could export oil from Kirkuk via the Nineveh province because security and safety concerns persist in the area.

Related: Crude-By-Rail Could Save The Permian Boom
“Turkey and Iraq cannot take any steps regarding Kirkuk’s oil export without first reaching an agreement with the Kurdistan Region. The oil pipeline is completely under the control and protection of the Kurdistan Region,” Bewar Khinsi, an adviser on natural resources to the Kurdistan Region Security Council (KRSC) Chancellor, Masrour Barzani, said.
Last week, KRG’s Prime Minister Nechirvan Barzani said that exporting Kirkuk’s oil via Turkey was at the top of the agenda for the talks between Kurdistan and Iraq.
Currently, fields controlled by KRG export around 350,000 bpd via the pipeline to Ceyhan, roughly half its capacity, industry sources told S&P Global Platts last week.
By Tsvetana Paraskova for Oilprice.com

[soho2] 16/8/2018 08:34

Totally agree there!

[panagos] 16/8/2018 08:20

Yes it is.

[amr2o17] 16/8/2018 08:14

A lot of people got mugged yesterday. This cash cow just gets fatter and fatter, Pesh is a monster

[panagos] 16/8/2018 08:13

Soo....... who sold yesterday???DOH !

[panagos] 16/8/2018 08:12

Genel Energy PLC: Update on Tawke PSCSource: UK Regulatory (RNS & others)Dow Jones received a payment from EQS/DGAP to publish this press release.Genel Energy PLC (GENL) Genel Energy PLC: Update on Tawke PSC 16-Aug-2018 / 07:01 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. 16 August 2018 Genel Energy plc Update on Tawke PSC Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has today issued an update on licence activity. As previously stated, production at Peshkabir has more than doubled to 35,000 bopd, following the successful Peshkabir-4 and Peshkabir-5 wells. Peshkabir-6 and Peshkabir-7, completed in August, are about to undergo rigless test production lasting several weeks. Two more wells are then scheduled in 2018, with Peshkabir-8 to spud in 10 days and Peshkabir-9 to spud in October. The operator has set a new Peshkabir production target of 50,000 bopd by year-end. Early production and successful appraisal has raised previous field 1P and 2P reserves estimates. Peshkabir-6 also has the potential to unlock further Cretaceous and Triassic reserves. With Peshkabir successfully launched, development drilling is set to resume at the flagship Tawke field, where workovers of existing wells have stabilised production above 85,000 bopd. The operator expects production to also increase at the Tawke field, dependent on the success of new wells in the second half of the year, when two wells will be drilled in the main Cretaceous reservoir and two in the shallow Jeribe reservoir. Engineering work has also begun on the enhanced oil recovery project at Tawke, based on the injection of Peshkabir gas. -ends

[nicebut] 16/8/2018 08:12

Dividends, even a small one, is what Genel should have announced too.

[sparky333] 16/8/2018 07:57

50k year end for Pesh.That is conservative I am placing my bets at 75k.

[nicksig] 16/8/2018 07:14

Pesh is a monster. Looking to accumulate whenever possible

[panagos] 16/8/2018 07:06

"KURDISTAN IS BACK AND SO IS DNO".

[panagos] 16/8/2018 07:05

: 08:00 CEST 16-08-2018 /GlobeNewswire /Source: DNO ASA / : DNO /ISIN: NO0003921009DNO Presses Foot on Accelerator in Kurdistan; Plans Dividend Payments Following Strong Half-Year 2018 ResultsOslo, 16 August 2018 - DNO ASA, the Norwegian oil and gas operator, today announced plans for its first dividend distribution to shareholders in 13 years following release of strong half-year 2018 results, including revenues of USD 289 million which were up 83 percent from the same period last year. The Company also reported a net profit of USD 61 million and free cash flow of USD 142 million during the first half of the year. "With growing production and robust and reliable revenues, the dividend announcement underscores confidence in our strong growth prospects," said DNO's Executive Chairman Bijan Mossavar-Rahmani. "Kurdistan is back and so is DNO," he added. The Company continues to ramp up activity in the Kurdistan region of Iraq, where fast track development of the Peshkabir field is expected to boost output by another 15,000 barrels of oil per day (bopd) to 50,000 bopd by yearend. The Company, the most active driller in Kurdistan, has three rigs operating across its licenses with a fourth to be added next month. Two rigs will be active at the flagship Tawke field to reverse natural field decline through workovers and the drilling of two wells in the main Cretaceous reservoir and two wells in the shallow Jeribe reservoir. Operations will commence at the Baeshiqa license with another rig to be mobilized to spud the first well in September as part of a back-to-back, three-well exploration program. DNO acquired a 32 percent interest in and operatorship of the Baeshiqa license last year, joining ExxonMobil (32 percent), the Turkish Energy Company (16 percent) and the Kurdistan Regional Government (20 percent). At Peshkabir, the fourth rig will spud Peshkabir-8 in 10 days followed by Peshkabir-9 in October. Early production and successful appraisal have raised previous field proven (1P) and proven and probable (2P) reserves. Two newly completed wells, Peshkabir-6 and Peshkabir-7, will commence testing by the end of this month before being placed on production. Peshkabir-6 is key to unlocking further Cretaceous and Triassic reserves. "Peshkabir is proving prolific in production and has generated over USD 300 million in gross revenue since startup last year or three times the investment," said Mr. Mossavar-Rahmani. Elsewhere, DNO recently completed the sale of its Tunisia assets and relinquished Block SL18 in Somaliland as part of the Company's ongoing rationalization of its portfolio through divestment of non-core assets and focus on expanding operations in Kurdistan and Norway. Offshore Norway, the Company recently added six new exploration licenses for a total of 21 licenses and plans to participate in one exploration well in the fall, followed by at least five wells next year. DNO retains indirect interests in North Sea assets through its 28.23 percent strategic stake in Faroe Petroleum plc and, given the size of its shareholding, will request seats on the board and has asked for an extraordinary general meeting to be called for this purpose. DNO exited the second quarter with a cash balance of USD 584 million in addition to USD 288 million in marketable securities and treasury shares. The Company's outstanding bond debt stands at USD 600 million. The planned annual dividend distribution of NOK 434 million (USD 50 million equivalent), payable in two tranches, is subject to shareholder approval. To facilitate the distribution of the planned dividend, the DNO Board of Directors will convene an extraordinary general meeting on 13 September 2018 (i) to seek approval for payment of a dividend of NOK 0.2 per share in H2 2018 to be distributed to shareholders of record on 13 September 2018 (as registered in the VPS on 17 September 2018), and (ii) to seek authorization to approve an additional dividend payment of NOK 0.2 per share in H1 2019

[panagos] 15/8/2018 20:35

agreed.

somehow I think this director invested a quarter mill to get a whole shiny mill!

[panagos] 15/8/2018 20:11

Yes sorry 230p.

I mean quarter of a million is money NO-ONE affords to lose right?

[panagos] 15/8/2018 20:04

At 330p ??

[panagos] 15/8/2018 19:39

Anyone forgot the dorector's wife "throwing" quarter of a million quid on genel stock a couple of months back?LoL!

[nicebut] 15/8/2018 18:26

I can`t see them AMR...But something`s been driving this down c20% from highs at c300...so presume someone is selling? I see DOW and PoO has bounced...so assuming it holds and DNO update is good we might see a bounce if there`s no continued selling pressure?

[amr2o17] 15/8/2018 17:59

Can anyone shed any light on those two £500k after hours trades listed as buys?

[panagos] 15/8/2018 17:50

lolTopaz in the bin right you go

[topazfrenzy] 15/8/2018 17:35

Back to 80p in a few months

[karateboy] 15/8/2018 17:25

Turkish investor only sold Less than 200000 reducing from 15.1m shares to 14.9. It is just the sentiment instead of flow causing the drop. Let's see what is going on,