Genel Energy Share Discussion Threads

[ken chung] 13/5/2021 09:03

50p soon.Lemmings and mushrooms only.

[losses] 13/5/2021 08:21

Ex Div today... if buying today then no divi

[jp2011] 13/5/2021 08:14

What time does this go ex div as the date is 13th May

[soho2] 13/5/2021 07:33

NOT GOOD !!!!

[rangor] 13/5/2021 07:18

Re RNS,
FFS!

[losses] 13/5/2021 04:59

The stock market is now moving into my forecast time window for a correction to begin of approx 10% decline.I'm predicting DOW to correct to 30476. It will bring the whole markets inline to 10% correction.Then move higher towards 35k+ starting from July onwards.

[losses] 12/5/2021 21:17

Go away MAY crew in full swing. Correction in the markets way over due

[soho2] 12/5/2021 21:03

Dow into free fall! Not looking good for us for tomorrow (on top of going ex-div)...

[losses] 12/5/2021 11:02

Yes same here... hold overnight tonight to get the divi

[cmacx] 12/5/2021 10:57

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[senator] 12/5/2021 10:39

Surprised to see a drop before Dividend Record Date.

[saget] 10/5/2021 10:18

Thank you, again, for taking the time to reply Cyan!I guess we can be definitely sure that the debt is less than 33% of the total asset value - and I guess it always has been?

[cyan] 09/5/2021 11:36

I suppose my only relatively minor gripe is that he $300m 2025 maturing bonds have a 9.25% coupon ; only a modest reduction from the previous 10% ones.

As the bonds are unsecured its not that surprising we had to offer such a coupon.

[cyan] 09/5/2021 11:18

I think its simplest to read this AGM statement with the prior knowledge that there are $300 m of bonds in existence;

"Our cash position at the end of April was USD266 million, a net debt position of USD3 million, with USD36 million owed by the KRG for production in March 2021. Given our expectation that payments will remain timely, we forecast ending 2021 with a
material net cash position. "

The other important number is the historical amounts owed TO Genel by the KRG which was reported at $159 million at 31.12.20.

Because POO is high, a gradual repayment will be on going.

[saget] 09/5/2021 04:34

Many thanks Cyan!Sorry, still a little confused... In the Financials section it says Net Debt is 194.78 million?But I thought Genel had almost no net debt?Am I not reading it correctly?

[cyan] 07/5/2021 13:21

ADVFN shows the debt ratio at 31.8%

Go to the very top of the web page and click on "Financials"

[saget] 07/5/2021 12:45

Quick question:Does anyone know if the total debt of Genel exceeds 33% of the total assets?

[nicebut] 06/5/2021 14:17

Bought a few more this morning...

Looks like the action is hotting up with divi due soon. PoO increasing and 3 wells due late Q3. What's not to like?

[cyan] 06/5/2021 11:00

We have the additional serious potential from our 40% interest in Qara Dagh
Todays statement refers;

"our high-potential appraisal drilling campaign is now
underway following the spud of the QD-2 well at Qara Dagh"

This is what was published in our final results;

"The Parker rig has now been mobilised, and the well is expected to spud in line with this schedule, with drilling operations anticipated to complete in Q3 2021.

Qara Dagh offers an exciting appraisal opportunity. The QD-1 well, completed in 2011, tested light oil in two zones from the Shiranish formation. The QD-2 well location has been selected c.10 km to the northwest of QD-1, and will test a more crestal position on the structure with a high angle well to maximise contact with reservoir fractures. The field holds resources estimated by Genel at gross mean c.400 MMbbls."

400 million; rather good; fingers crossed.

[linton5] 06/5/2021 10:52

To be honest I have dipped in and out last 6years but I’m gonna sit tight this time as I feel the time is right for her to finally flourish and get back to where she belongs seen to many stocks go nuts and they have nothing on genl balance and fundamentals only the geography holds it back a bit

[cyan] 06/5/2021 10:46

Yes; such a solid financially strong and prudently managed producer with costs as low as $2.8 per barrel AND paying a big dividend; what's not to like.?

Looking back at the results for year end 31.12.20 I paste here particularly relevant passages in respect of monies owed to us by the KRG;

Results to 31.12 20

"USD 159 million of unpaid KRG debts in 2020"

"Receivable recovery payments expected to generate c.USD50 million in 2021 at an oil price of USD60/bbl

A USD5/bbl change in Brent impacts cash generation by c.USD35 million in 2021 ? Due to Genel's robust financial position and confidence in the Company's future prospects, the Board is accordingly recommending a final dividend of 10¢ per share (2020: 10¢ per share), a distribution of USD27.9 million"

POO is even better than hoped so we should be in the money this year.

[linton5] 06/5/2021 10:38

That’s what I thought cyan you’d be crazy to sell these I can’t believe this is under £2 after all those years

[losses] 06/5/2021 10:27

"Our cash position at the end of April was USD266 million, a net debt position of USD3 million, with USD36 million owed by the KRG for production in March 2021."

[losses] 06/5/2021 10:26

Does the net debt include money owed by KRG?