Genel Energy Share Discussion Threads

[farrugia] 21/5/2023 11:09

#genl #genel energy has confirmed that toosan 1 well in the licences adjacent to odewayne in Somaliland will be spudded in H1 next year.

The well targets between 100 and 200m barrels.

Taiwan oil company is involved in the drilling as Somaliland is one of the few african allies left since the majority of African states have turned to backing China.

This is for the other block, not odewayne.

If they find oil they can use Djibouti infrastructure which is not very far (like turkana in Kenya or Uganda)

Somaliland government is very supportive

[farrugia] 15/5/2023 16:15

there is lots of oil in Somaliland though no doubt - it seems to flow freely in places there!

[johnhemming] 15/5/2023 09:49

"Turkey also has presidential elections on May 14, an event some observers believe could lead to delays."

[chopsy] 12/5/2023 21:49

Somaliland drill spud still some way off, and politically just as risky as KRG, IMO.
Morocco more likely to bring good news soon, a farmout will be great, and the region is hotting up with CHAR, PRD SOU.

[warrenbuffet73] 12/5/2023 20:18

What’s interesting is the directors have been making big buys before the pipeline was closed. Maybe a big find in Somalia or Morocco. Certainly little action in relation to Kurdistan. I think we’re going to get a nice surprise very soon. Any thoughts?

[johnhemming] 12/5/2023 11:54

My guess is that not a lot will be resolved between Turkey and Iraq until after the election. (in Turkey)

The first round of the election is on 14th May. If there is a second round it will be on 28th May.

[hangthedj] 12/5/2023 11:49

If pipeline opens tomorrow great but for me most important information is going to be how payments (past,present and future) are going to be administered.

You would think something must be in place before IOC's agree to re-start production......wouldn't you??

[greenelf] 12/5/2023 11:27

Coulda fooled me :-)

[losses] 12/5/2023 11:18

I've been in these for 6-7 years so know full well what goes on.

[greenelf] 12/5/2023 10:54

Investing is speculation. News release by Kurdish and Iraqui oil authorities is news. Just need Turkey confirmation and company RNS.

[losses] 12/5/2023 10:40

Cant see any RNSs.. could this be just speculation again?

[losses] 12/5/2023 10:26

Divi payment is 19 May

[losses] 12/5/2023 10:26

Damn bad timing... was waiting for the divi to reinvest at lows.

[geckotheglorious] 12/5/2023 10:07

Thanks for the news Greenelf.
No RNS and I did see that GKP were up 12% odd, Genel up 7% which piqued my interest.

[hangthedj] 12/5/2023 09:14

Yes all sounds good but just hope Turkey are in agreement as I have similar thoughts to meanreverter in post 5106.

[meanreverter] 12/5/2023 08:00

“Please let our oil through your pipeline again!”

“Hmmm ... I'll put it on my to-do list ... Meanwhile, I've got a lot to think about — in particular the $1.5bn the international court says that I owe you. Any ideas?”

[hangthedj] 11/5/2023 22:11

Pipeline opening on Sat is great news but I'm more interested in the details of the payment mechanism going forward.
How much and when to be blunt!

[farrugia] 11/5/2023 18:29

today

KRG, Iraq waiting for Turkey's response to resume oil exports


'but doubt it'll be straight forward recovering those outstanding payments.'

I think the KRG has been proven to honour its obligations even if slow. And besides I think there are also legal obligations...

[hangthedj] 11/5/2023 10:59

Yes, IOU $80m plus $30m in the near future, hopefully some good news ahead but doubt it'll be straight forward recovering those outstanding payments.

Slightly worrying that invoices are down to $15m per month for Feb and March although think previous receivables have now been paid, just in time for a new amount.