Genel Energy Share Discussion Threads

[geckotheglorious] 11/5/2023 08:38

I see shareholders are still getting screwed by the parasites that are the Kurdistan,Iraqi,and Turkish political classes.

The world would be so much better absent corrupt politicians.

[justiceforthemany] 05/5/2023 16:09

60% of market cap is CASH

[bondholder] 03/5/2023 08:40

Non exec director spending 500k on shares is fine with me. Shareholder alignment.

[kris akabusi] 02/5/2023 19:33

Hmm, Turkish director pumps half a mil into company held hostage by Turkish government ? Korruptistan ? ? ?

[nestoframpers] 01/5/2023 16:01

More Replies
Tip of the iceberg
@basilbunting10
·
Apr 28
Many other predator companies are watching what happens. If Genel Energy gets away with this, they will all at once descend on Somalia like locusts. When Britain forced China to allow the sale of opium, every other Western nation also demanded access to the Chinese market.
Abdirizak Diriye @AbdirizakDiriye
@Abdiriz83082530
·
Apr 29
It is up to us to counteract timeline and cohesively corrupted naive politicians and naive foreigner and shape our resources exploration in the most effective way.

[nestoframpers] 01/5/2023 15:59

This Tweeter who I think is a dentist in the UK doesn't seem to understand about contracts! the replies on the whole show zero intelligence.



Elham Garaad ✍︎
@EGaraad_
The most effective method to combat the illicit oil exploration activities of companies in Somalia is for British Somalis with various professions such as lawyers, doctors, professors, and engineers to unite and take legal action. This could entail pressuring the Somali government to request an Interpol Red Notice, as they previously asked Genel Energy to leave Somalia two months ago, which the company refused to comply with. The next course of action would be to seek an international arrest warrant and we need to pressure this!

[wolfofhounslow] 28/4/2023 16:55

The source indicated that there are positive developments between Baghdad, Ankara, and Erbil." Delegation in Turkey to discuss oil exports. ERBIL (Kurdistan 24) â€" According to an informed source, speaking to Kurdistan 24 under anonymity, a delegation of representatives from the Kurdistan Region and Iraq is currently visiting Turkey. The source indicated that there are positive developments between Baghdad, Ankara, and Erbil. The source revealed that four oil companies have signed contracts, jointly agreed to by the KRG Ministry of Natural Resources and the Iraqi state oil marketing company (SOMO). Moreover, Iraqi Oil Minister Hayan Abdul-Ghani informed the state-run Iraqi News Agency on April 28 that they will declare the recommencement of oil exports in the upcoming days. hTTps://www.kurdistan24.net/en/story/31307-Delegation-in-Turkey-to-discuss-oil-exports

[geckotheglorious] 27/4/2023 13:12

Wapit

Nope.
No progress.


GKP RNS
"Jon Harris, Gulf Keystone's Chief Executive Officer, said:
“Gulf Keystone was on track to deliver another year of strong profitable production growth and robust cash flow generation until the Iraq-Turkey pipeline arbitration award resulted in the suspension of pipeline exports. March production prior to the pipeline suspension averaged c.53,700 bopd with plans to bring on SH-18 in Q2 2023 and ongoing facilities expansion activities.

The lack of crude oil exports for a month has further exacerbated delays in KRG payments to international oil companies with uncertainty on when consistent monthly payments will resume and when the current overdue amount of $102 million net to GKP will be paid.

While we continue to believe that the pipeline shut-in is temporary and the KRG will resume more normalised payments, we are prudently taking action to preserve liquidity by targeting a reduction of costs across the business. We are closely monitoring the situation and will take further appropriate action as required.”"

[wapit] 27/4/2023 12:54

Any news on oil progress between Iraq & Krg. As always these things seem to take ages to sort

[losses] 20/4/2023 08:05

Gone XD today. Divi paid next month

[wolfofhounslow] 17/4/2023 17:47

FEDERAL IRAQ, KRG INCH CLOSER TO DEAL TO RESUME NORTHERN OIL EXPORTS – SOURCESKRG OIL WILL NOT BE SOLD TO ASIA UNDER EMERGING AGREEMENT BETWEEN BAGHDAD AND ERBIL – SOURCESKRG CRUDE WILL BE PRICED AGAINST KIRKUK OFFICIAL SELLING PRICES UNDER PLANNED DEAL – SOURCES

[wolfofhounslow] 17/4/2023 14:18

Pipeline to restart WednesdayThe Ministry of Natural Resources will meet with oil companies operating in the Kurdistan Region on Tuesday to discuss how to resume oil production and exports.Oil production and pipeline transportation is expected to resume on Wednesday after the meeting, Rudaw reported.Oil companies have been warned to technically prepare their fields to resume oil production.The meeting with the oil companies coincides with the Iraqi prime minister's statement to Rudaw that the Kurdistan Region will resume oil exports this week.After the Kurdistan Region stopped exporting oil at the end of last month, oil companies continued to produce oil for two weeks, but instead of exporting, they stored oil.Due to limited storage capacity, oil companies were forced to close their wells and stop producing oil.Iraqi Reconstruction and Housing Minister Bangin Rekani said Monday that the Iraqi government will send a letter to the relevant parties in the Turkish government requesting the resumption of oil exports from the Kurdistan Region.

[wolfofhounslow] 16/4/2023 17:31

ERBIL, Kurdistan Region - Exports of Kurdistan Region?s oil are expected to resume in the next few days after being put on hold more than 20 days ago, a deputy leader of the Iraqi parliament told Rudaw on Sunday, citing a recent meeting with the Iraqi premier. Rudaw 26 mins ago.

[idriveajag] 14/4/2023 07:41

UKOG just reached first casing point in their Pinarova-1 drill, in area of active borehole oil seeps. Will drill through potential oil bearing structure in next week.UKOG could be next 10x bagger.

[sporazene2] 13/4/2023 13:03

jackpotjack the safest way forward is to diversify into cash generative production outside of the KRI, that is the stated strategy here. Given current liquidity, that can happen very materially regardless of if/when production comes back on line.

[jackpotjack] 13/4/2023 12:51

People need to see what happens when things go pony and bond holders come in for the debt repayment....No debt is the safest way forward as if no income you have no way to service your debt and as a plc you can't be considered a going concern... basic accounting law.

[wolfofhounslow] 13/4/2023 12:13

500m cash Gkp has got 100m left only :(

[jack ladd] 13/4/2023 11:57

Don't forget the 280 million debt GENL has...GKP has no debt.

[sporazene2] 13/4/2023 11:52

Going to be interesting to see how we finish the day but an acquisition of something cash generative will be excellent. $500m gets a lot in the current climate and with production to come back online in KRI sometime soon this could get quite fun for a change.

[wolfofhounslow] 13/4/2023 10:57

Defo acquisition

[sporazene2] 13/4/2023 10:47

looking like something is leaking here. GKP up but only a little. Let's hope they have been able to put the cash pile to work on something.

[greyingsurfer] 13/4/2023 10:45

This move is not just people looking for a dividend. News on resumption of oil exports?

[wolfofhounslow] 13/4/2023 10:10

Also with 500m in cash they might be close to an acquisition