Genel Energy Share Discussion Threads

[geckotheglorious] 30/1/2023 16:39

Tony Buckingham certainly was both wise, and fortunate - sold out of Nigeria at a reasonable price (despite Investor protestations he'd sold on the cheap)

Just need to see what happened to Afren, lekOil and Co. Nigeria a minefield. Ditto KRG.

Heritage very savvy. Sorry to seem them get taken out

[hangthedj] 30/1/2023 14:19

Looks like we're on the naughty step with regard KRG payments.
Any chance we could have our highly prospective Miran Licence back to help cover for late payments.
I think we paid good money to Heritage Oil for that.

Just asking.

[topazfrenzy] 27/1/2023 14:21

Of course it doesn't lol

this is an oil company, the black stuff

[o92mlboa] 26/1/2023 11:14

Does this company fall under the clean energy sector like those in fuelcell and cmg cleantech? If so how do they compare against them?

[geckotheglorious] 26/1/2023 10:34

GKP paid today for August Oil sales.
So we're now 5 months in arrears rather than three!
Still, at least payments are back!

[losses] 25/1/2023 22:45

Ex div 13 Apr 2023 (Thu)Pay date17 May 2023 (Wed)

[idriveajag] 25/1/2023 21:59

UKOG drilling Pinarova Q1 2023. Already has oil shows on the license. Shallow depth, cheap costs and welcoming regulatory framework. Surely a quick 5x to 10x bagger. Buy UKOG.

[sporazene2] 24/1/2023 09:26

circa 300K on the bid @130p since yesterday, very slowly getting cleared. I wonder how long it will take

[sporazene2] 24/1/2023 09:26

circa 300K on the bid @130p since yesterday, very slowly getting cleared. I wonder how long it will take

[cat33] 22/1/2023 10:52

Sounds like a massive buy - https://oilman.substack.com/p/sunday-blog-22-january-2023?sd=pfIs this an accurate summary of GENL?

[bang_gone] 20/1/2023 16:11

It's not at all unusual for oilcos to experience delayed payment in Iraq.He was confident payment would normalise, and sadly other than a nuclear option( stop pumping) CFO can proob do f all..All the Kurd oilers are obvs takeover targets, hence why there share price pressured lower..The yanks have banged heads so I expect corporate moves

[losses] 20/1/2023 13:29

It's been a takeover target for years but never seems to materialise

[sharesure] 20/1/2023 12:25

Surprised that this hasn’t been considered a take over target; its cash pile, debts due and the need for a more progressive management should put it in the cross hairs of a number of competitors.

[releasethekraken] 20/1/2023 11:40

2 months production payments are overdue.It's not a crisis, or unprecedented CFO extremely relaxed about payment delay at presentation this week.He was a lot more interested in how they will invest the enormous amount of cash they already hold into new projects....

[geckotheglorious] 20/1/2023 11:37

Farrugia
Post 4969
"Does it really matter? Kurdistan payments may come a bit late but they do pay their dues as can be seen by their overriding payments"

Ask any GKP shareholder.

Of course it matters. Else you get diluted to oblivion because Oil payments arent received despite ramping up production(Debt funded investment on promise of getting paid) so end result is bankruptcy or dilutive debt for equity swap.

We've now slipped from three months in arrears to FIVE+

[farrugia] 20/1/2023 10:36

does it really matter? Kurdistan payments may come a bit late but they do pay their dues as can be seen by their overriding payments.

Guys do you know any other oilers that are exceptionally good value? I'm trying to diversify a bit - I have Petrobras - Seplat/Jadestone/i3 Energy - any others?

[hangthedj] 18/1/2023 11:23

HKN Energy Ltd. have a new presentation on their website as of today.

Private oil company producing near us in Kurdistan.
Same late payment issues mentioned and they seem to be getting agitated but doubt that will make much difference meantime.

Small snippet below


• $168 million in outstanding receivables at year end
– $97 million of which is past due
• Only 10 payments received in 2022
• HKN amended its oil sales agreement with KRG
effective September 2022
– Oil price now referenced to Kurdistan blend (KBT) rather
than dated Brent price
• KRG unwillingness to make payments on timely
basis is forcing HKN to reconsider development
spending in 2023

[topazfrenzy] 18/1/2023 11:02

I hope they are collecting good interest on the cash sitting in the bank in the meantime ..

[releasethekraken] 17/1/2023 16:24

In contrast with that much cash on balance sheet, makes genel a sitting duck takeover target...What were you expecting? A tap dance? The problem here is that any counterparty will know we have a big chunk of cash burning a hole in our pocket and a BoD that is under pressure to make move on something. I would prefer to be on the sellers side of the table. Until we are able to get something over the line, I wouldnt be expecting any excitement other than hoping the oil price getting back to $100 and collecting the decent dividend.

[hangthedj] 17/1/2023 14:49

Was hoping for some sort of explanation or at least a recognition/mention regarding overdue payments in today's statement.

Don't think there was ever a reason made public as to why the Nov'19 - Feb'20 invoices weren't paid on reasonable schedule.

Payment plan was created to cover it and a "promise" of ongoing payments being made 15 days after receipt of invoices.
That didn't last long either. it was just gradually squeezed out longer and longer.
Most annoying thing for me is if KRG have been paid for the sold oil and not stumping up with share for producers.

500k bpd @ $70 generates a cool $1 billion per month for KRG

[ashkv] 17/1/2023 14:27

GENL has a sum of 60p in Dividends since 2018 - and 5 years ago share price was 138p

[losses] 17/1/2023 13:55

You've a lot to learn.. been here 5 years... in profit due to the dividends alone.

[sporazene2] 17/1/2023 12:39

What were you expecting? A tap dance? The problem here is that any counterparty will know we have a big chunk of cash burning a hole in our pocket and a BoD that is under pressure to make move on something. I would prefer to be on the sellers side of the table. Until we are able to get something over the line, I wouldnt be expecting any excitement other than hoping the oil price getting back to $100 and collecting the decent dividend.