Genel Energy Share Discussion Threads

[cyan] 13/7/2016 10:19

Good morning alem54. I hope that reading the last results and extract 2 in particular , will offer reassurance.

Results RNS from 3.3.16



Extract 1

"In this environment three things position Genel well for the future - oil production that is amongst the lowest cost globally, a robust balance sheet, and a tight control on costs. Despite the disappointing revision of our reserves at Taq Taq, Taq Taq and Tawke remain low-cost oil fields by any global benchmark. With 264 million barrels of net 2P reserves across our KRI portfolio, Genel has a robust oil business well positioned in the current oil price environment, and set to be significantly cash generative going forward"

extract 2

"In a challenging external environment it is never more important to retain financial strength, and ensuring that costs were kept to a minimum was a key focus of management in 2015. This focus saw a number of efficiency measures and cost reduction programmes implemented across the business, resulting in production costs and general and administrative costs falling by around 40% compared to 2014. Even without receiving full payment for our oil exports, cash receipts of $148 million local and export sales more than covered production costs, general and administrative costs, and bond interest during the year. "

Brent $47.65. not bad.
We will late in the day find out the inventory numbers which could sharply move the share price either way.

[alem54] 13/7/2016 09:16

so is genel currently making money? or are they still dissipating it in costs? are the amounts that Kurdistan is paying covering their costs?

[cojones] 12/7/2016 13:47

nice price to get in master ;)

[cyan] 12/7/2016 13:08

Oil very much stronger. Brent now $47.70.
We could revisit 130p this week if this momentum continues. The inventory numbers will be critical , of course.

[master rsi] 12/7/2016 12:58

Bought some at 121.90 earlier and selected the stock on the "UPS" thread...

Master RSI 12 Jul'16 - 11:25 - 175 of 177
UPS
GENL 121.675p ( 121.25-122p )

Oil price on the way up for the last couple days and the stock is today starting to move higher after being oversold position at this point.

[cyan] 12/7/2016 11:29

Why on Earth is GKP defying gravity?. Must be in a parallel universe; makes no sense.

Brent now $47.34, keep going.

[cyan] 12/7/2016 10:14

I recommend this video;

"Oil outlook; where are oil prices heading" ?




Oil performing strongly now Brent is $47.17

[cyan] 12/7/2016 10:01

A better day for Brent now $46.96

A story this morning about the future for POO

"Return of Oil Contango Shows Price Recovery to Be Bumpy Ride "

[hawkey2] 11/7/2016 19:07

June Payments......

Payments up from 75$ million last month to 81$ for the major producers this month so a few more dollars for us.

98$ million against past payments I guess this is Glencore and others.

Still...... highest payment of the year so onwards and upwards.

Good luck all.

Hawkey

[cyan] 11/7/2016 16:09

Brent now $46.62. Patience is required for us to reap the rewards gas will bring in time.

An EIA story from today.

"EIA projects rise in U.S. crude oil and other liquid fuels production beyond 2017"

[mustau] 11/7/2016 15:39

Can't fanthom the price action here, with what they have this should be way above 2.

[bidmsa] 11/7/2016 15:17

SHOULD BE £1.50+


Genel Energy PLC (GENL) Given ” Buy” Rating at Canaccord Genuity
Posted by Donnie Miller on Jul 11th, 2016 // 0 Comments

Genel Energy PLC logoGenel Energy PLC (LON:GENL)‘s stock had its ” buy” rating restated by research analysts at Canaccord Genuity in a report issued on Monday. They currently have a GBX 195 ($2.59) price target on the stock. Canaccord Genuity’s target price would suggest a potential upside of 61.83% from the stock’s previous close.
A number of other analysts have also recently weighed in on GENL. Liberum Capital reaffirmed a “hold” rating and issued a GBX 100 ($1.33) price objective on shares of Genel Energy PLC in a report on Friday, March 18th. Barclays PLC reaffirmed an “overweight221; rating and issued a GBX 130 ($1.73) price objective on shares of Genel Energy PLC in a report on Monday, March 21st. Deutsche Bank AG reaffirmed a “buy” rating on shares of Genel Energy PLC in a report on Wednesday, March 23rd. Jefferies Group cut shares of Genel Energy PLC to an “underperform” rating and dropped their price objective for the stock from GBX 248 ($3.29) to GBX 62 ($0.82) in a report on Thursday, April 7th. Finally, Goldman Sachs Group Inc. lowered their target price on shares of Genel Energy PLC from GBX 123.40 ($1.64) to GBX 113.90 ($1.51) and set a “neutral”; rating on the stock in a research note on Tuesday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 235.06 ($3.12).
Genel Energy PLC (LON:GENL) opened at 120.625 on Monday. The company’s 50 day moving average is GBX 131.24 and its 200 day moving average is GBX 117.80. Genel Energy PLC has a 52 week low of GBX 71.75 and a 52 week high of GBX 481.50. The stock’s market cap is GBX 335.80 million.
Genel Energy Plc is a holding company. The Company is engaged in the business of oil and gas exploration and production in the Kurdistan Region of Iraq (KRI). The Company’s segments include Kurdistan and Africa. The Company has interests in approximately two producing fields in the Kurdistan Region of Iraq, Taq Taq and Tawke, with access to local and international markets.

[cyan] 11/7/2016 12:38

POO is regaining some legs and is moving up nicely now. Brent now $46.45

Malcy's blog this morning

[cyan] 11/7/2016 10:03

Brent rather weak this morning but no over reaction, so far, with our share price Brent now $46.05.

A story about POO and Irans production

[cyan] 08/7/2016 17:40

Good evening pogue.
The Saudi's have screwed everything up. It seems like a lifetime ago that they were stating things would be getting back to normal in the autumn , intimating $70.
It wasn't autumn 2016 !

They have misjudged badly the resilience of US Shale.
The indications are that the US rig count and production will return significantly at $50 plus.
The current POO has been supported by those 'black swan' events.

This link is a week old but highlights some issues and thoughts on where POO may be going.



The 'replacement' of their oil minister and their plans to sell off a huge stake in their assets suggests to me the Saudi's now tacitly accept they are not complete masters of the oil market after all.
They can talk all they like about being swing producers ; its more dreaming.

They have made the bed uncomfortable for all and those desperate economies like Venezuela will sell as much as they can ,and, don't expect the Russians to honour any production agreements.

[pogue] 08/7/2016 16:52

Cyan
How about the Saudis returning to the role of swing producer as they have hinted at. Their idea of the price range of oil is $60 to $70. That would get us over $55.

[mask] 08/7/2016 16:27

hxxp://www.dailysabah.com/economy/2016/07/07/imf-to-provide-53-billion-three-year-loan-to-iraq



Will this help Iraq to pay money owed to IOC's?

[cyan] 08/7/2016 12:26

Malcy highlights the interesting API and EIA numbers.



The EIA weekly report details the fall in crude inventories.



Extract;

"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.2 million barrels from the previous week. At 524.4 million barrels, U.S. crude oil inventories are at historically high levels for this time of year."

At least Brent is creeping up again ; Now $46.86

[cyan] 08/7/2016 11:54

Hi golf,
I am in the same camp regarding our share price resilience at the moment. Guessing POO's movements is a tough game but, imo, for us to revisit 100p or less, as our reserves stand, would require POO to go sub $40.

I have seen nothing that will convince me that POO will make a decisive break above $55 for at least anther year but would love to be proved wrong.

Brent now $46.69

[golfhelicopter12345] 08/7/2016 10:40

Quietly pleased that we seem to holding around the 120p level. I had feared that the combination of the downward production guidance and falling oil price would see us heading back towards 100p.

[cyan] 08/7/2016 10:15

Brent now $46.59. Disappointing. What makes no sense is that the basket case GKP is up today!

[fsawatcher] 08/7/2016 09:15

back below 100p

all this company do is downgrade stuff

downgrade overstated reserves

downgrade production

Is hayward there any more? or jus 1 day a month for same salary?

[dodge meister] 07/7/2016 19:00

US oil production now really falling:

hxxps://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&;s=WCRFPUS2&f=W

[golfhelicopter12345] 07/7/2016 18:20

$46.43 now.

We need a bounce or could face carnage on Friday.