Genel Energy Share Discussion Threads

[cyan] 13/5/2021 12:00

I suppose , on reflection, its been a day of over reaction.

Look at other oil companies; billions in debt; our problem is being owed many millions lol

[phillis] 13/5/2021 11:53

would be good money after not v good money

[senator] 13/5/2021 11:41

Is this a topping up opportunity?

[cyan] 13/5/2021 10:27

They are hugely dependant on the O & G sector and have large debts to the Russians.

Before the ill-fated independence referendum and its fall out, the Russians were well advanced into plans for a gas export pipeline which could have released the enormous value from our HUGE gas reserves.

They really need to look ahead more at investment in the sector rather than ....whatever they do with the revenues?.

I fully understand why Genl is cautious about spending cash on developing our gas assets without very clear engagement terms with the KRG being agreed.

[frazboy] 13/5/2021 10:22

Nationalisation is always an option. The USA would be extremely unhappy about that tho due to the presence of Exxon and Chevron, although I'm not sure how sizeable their interests are.

[elcapitano100] 13/5/2021 10:15

My assumption on leverage was based on what other significant income lines do the KRG have beyond Oil? I'm struggling to think of any.Ergo - if they fall out with the IOCs,aren't they shooting themselves in their tootsies?

[cyan] 13/5/2021 10:03

"The revised payment terms are stated by the KRG to be a result of the Dated Brent price having consistently stayed well above $50/bbl, and the ongoing challenges presented by the COVID-19 pandemic in Iraq."

Ummm. I find myself scratching my head at the first part of this line . High POO benefits all .
As for the financial costs of Covid ; hard to quantify . I note the regional case rate is falling now.
One hopes that a rapid return to some form of normality will cause a review of the payments; in Genels favour, for a change.

[d1nga] 13/5/2021 10:02

Elcapitano

You assume wrong, what can genl do in reality, stop producing? how do you think that would affect the sp?

[frazboy] 13/5/2021 10:01

It's days like today that you realise why GKP and GENEL are so cheap. If there's some solace in today's announcements it's that the payment terms were far better prior to this announcement than prior to Covid. In some ways terms are still okay with respect to pre-Covid, as I think 90 day plus delays had become normal.And the other relatively reassuring aspect is that these changes effect Exxon too.

[officerdigby] 13/5/2021 09:59

Any leverage would require all Kurd PSCs to stop field development.This really is... Oh we don't like giving you TOO much money at once.

[elcapitano100] 13/5/2021 09:54

The irony is that it was the rising oil price that enabled the KRG to start the override payments again - and now it's used as a reason for reducing them.Go figure.At least Genel are challenging this request and I assume will have some leverage?

[cyan] 13/5/2021 09:44

At least the Tawke override payments are unaffected .

The other monies owed will , on the face of it be repaid less quickly. The debts have not been cancelled .
Its a good job POO is so relatively strong.
One thinks swings and roundabouts to some extent. Lets hope for even higher POO.

The KRG's management of their finances is a recurring issue and any hope of them making any substantial capital investment in the midstream gas development proposals looks remote.

Such a huge potential earner for them and us; I live in hope that one day it will happen...

[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?