Genel Energy Share Discussion Threads

[arab3] 14/11/2023 11:42

news may arrive but the meetings have been going on for long enough without any conclusions. When will the next meeting be ?

[losses] 14/11/2023 11:10

Pipe line news can arrive anytime for an easy 50% increase on the sp

[r88ave] 14/11/2023 08:18

all you need to look at the market value...and when the pipeline re-opens. No brainer really
edit what else can they report ?? just play the waiting game..too much money to let it pass on grand scheme of things...too big to fail

[milliecusto] 14/11/2023 08:15

What a load of drivel

[losses] 14/11/2023 07:10

Same old tripe... at least generating cash and not loss maker. Will all be good again once the pipe line opens up.

[justiceforthemany] 13/11/2023 17:42

Are you Iraqi banksy?

[losses] 13/11/2023 17:25

That's true, hardly any stock to buy when MMs dropped the prices into the 70s

[hangthedj] 13/11/2023 16:30

The court case issue may have to be revised considering all that has gone on in the last 7 months.
Not sure what Genel stand to gain in court. KRG have massive debt problem and don't even think winning court case against them would be significantly beneficial.
My idea would be for KRG to reinstate Miran license but doubt that's going to happen either.

[chopsy] 13/11/2023 16:20

Other news we might expect anytime includes updates on Morocco and Somaliland.

[last of the mohicans] 13/11/2023 16:12

Well Losses,

It will be interesting to see what tomorrow brings & the court case is just 3 months away which could be transforaminal for you.

The directors have spent a lot of there own cash buying shares this year, admittedly not at great prices, but they have got there average purchase price to under £1

There is very little stock around & half the time the MM's are wanting a premium for just 5,000 shares.

Good Luck

LOTM

[last of the mohicans] 13/11/2023 15:47

Farrugia,

I think Genel lacks behind because it has less retail investors & retail investors are the 1st ones to react to news.

GKP has a much larger retail investor base.

Whereas a very large chunk of Genel shares is held by 2 different groups including one of the directors.

Obviously until tomorrow the directors can't buy any more shares !!!! so I'm guessing they'll be a bit annoyed about that ..............

I've bought more today, sadly not particularly at the best possible price, but I'm expecting good news tomorrow, given the directors were happy to be paying 85p a share a month ago & things have moved on in a positive way since then regarding resumption of the pipeline.

I suspect there will be other news I've just no idea what it will be ......

GLA

LOTM

[shareho1der] 13/11/2023 11:56

I am looking forward to seeing the agreements

[s34icknote] 13/11/2023 09:25

Weird isn't it They didn't get directors piling in 82 and 116 paid here We seam to be lagging Gkp 80 p to 130 Genel 74 to 83 with 3 miilion pounds of directors money in !!!!

[farrugia] 13/11/2023 09:14

why are we lagging GKP so much?

[banksy] 13/11/2023 08:22

More bluster from the Iraqi Oil Minister. A deal 'could' be reached within 3 days to resume oil exports. Along with KRG oil contracts will need to be 'amended' in line with Iraqi constitution. You can only laugh, as we all know it's just not going to happen!

[sandeep67] 11/11/2023 23:58

Wonder how much Russia is paying to keep pipeline closed so they can pump super cheap oil to Turkey?

[last of the mohicans] 11/11/2023 12:03

Tygarreg,

Posted this earlier ..... post 5318,

"Following closure of the Iraq-Türkiye Pipeline last March, the Company gradually reopened the Tawke and Peshkabir fields (DNO 75 percent and Genel Energy International Ltd 25 percent) and stepped up deliveries to local trading companies in Kurdistan. Production continues to increase; so far in the fourth quarter output is averaging double the level of the third quarter.

The DNO-Genel contractual entitlement, currently around one-half of volumes produced, is sold at prices that vary narrowly in the mid USD 30s per barrel, and payments are made in advance before any oil is delivered.

DNO has over the last 12 months recovered around USD 15 million, including USD 8 million in October, of the accumulated KRG debt to DNO for previous oil sales in 2022 and 2023 (in excess of USD 300 million)."

----------------------------

Which no-one seems to have picked up on.

Look at the last paragragh, DNO is making enough money now from advanced sales to be able to claim back directly $8M in cash of the debt owed to it by the KRG for October alone. That will be in addition to the money it should be getting in the normal course of events.

So Genel should be in the same boat, meaning it should have got close to $3M of the $110M outstanding in October as well. Given production is still on the increase its likely that they'll be getting more than $3M of the arrears back with each passing month.

LOTM

[last of the mohicans] 11/11/2023 11:47

What is interesting if you look back through company announcements is that Genel don't usually do quarterly updates (financials) they only do yearly & half yearly ones.

So why do one this time round ? unless you've got something interesting to reveal to the market ........ given everyone knows about the pipeline situation & the problems its causing etc.

Why do a presentation etc unless your maybe announcing the purchase of a new asset (long been talked about) ?

Current market cap is $270M with net cash at end of June at $153M with another $110M overdue from the KRG.

Outstanding debt of 9.5% bonds was $273M which has been reduced by $16.2M following a recent buy-back offer.

Then the court case for substantial damages is due to be heard in Feb 2024, so only 3 month's away from that.

LOTM

[warrenbuffet73] 09/11/2023 19:07

Indeed BUT there’s obviously a good reason the directors and Bigin’s group are buying here.

DNO touted as takeover target years ago by genel. Somethings going on behind the scenes.

I think newly merged groups will have more clout in getting the damn government to pay them the going rate for oil

As smaller entities they haven’t got so much power

Takeover, merger or news of oil find somewhere to be released soon

[s34icknote] 09/11/2023 16:17

Gkp racing ahead , and good old genel with the huge director buys at all time lows !!