Genel Energy Share Discussion Threads

[tsmith2] 08/8/2016 08:32

£1.2 quickly for starters, very oversold

[klassic] 08/8/2016 08:32

It's good to Tawke
But it's a part payment and late
POO will rise in the long term and that ultimately will be the salvation for this company if the situation in Kurdistan stabilises. That, of course, is a big IF.

[upwego] 08/8/2016 08:25

Red hammy this is most undervalued oiler out there idiot

[tsmith2] 08/8/2016 08:10

There we go

[redhammy] 08/8/2016 08:07

upwego in = time to get out. It'll change its mind shortly.

[upwego] 08/8/2016 08:05

£10 coming 1 year

[upwego] 08/8/2016 08:03

bought some today well undervalued now monies are being paid back now!

Get in lads gonna fly!! :)

[upwego] 08/8/2016 08:03

bought some today well undervalued now monies are being paid back now!

Get in lads gonna fly!! :)

[cyan] 07/8/2016 09:54

KRG press release 8th Dec 2015



extract;

Tony Hayward, Chairman of Genel Energy, said that two years ago he talked about Kurdistan becoming a major oil exporter, and that vision is now a reality. Genel Energy and other companies are also developing gas resources. He said, “Gas discoveries so far are enough to support annual exports of 20 billion cubic metres (bcm) to Turkey in four to five years. Gas to Turkey is far more strategic than oil; it will cement KRG’s relationship with Turkey.”
======================================

We start the week with Brent at $44.37. Not bad.

[dodge meister] 07/8/2016 07:35

Yep, the Kurdistan monies ties up to paying only one major producer:

hxxp://mnr.krg.org/index.php/en/press-releases/560-krg-publishes-monthly-production-and-export-revenue-overview-for-july-2016

It is an odd strategy, if it was a money issue, you would have though that they would have part paid everyone. I wonder whether the Gulf and DNO raised their invoices in time and whether this has something to do with the Gulf buyout.

[cyan] 06/8/2016 10:04

You may all be interested in reading this story from June. Does show serious room for improvement in the distribution of the income;



Extract;

"The Kurdish region exported an average of 513,041 barrels in May through the pipeline to Turkey, generating about $391m, of which about $75m was paid to oil companies that produce the crude, according to KRG official estimates.

“The companies have been assured that certain amounts will be made on a monthly basis," said Dizayee, referring to the three foreign oil producers in the KRG region - DNO, Gulf Keystone and Genel.

“We have started to pay some of it, at least it has rebuilt that confidence between the government and the IPCs (oil companies," he said, referring to arrears owed to the companies.

The KRG in February said it will be paying international oil companies in 2016 according to the terms of their contracts, after making ad-hoc payments last year."

[hangthedj] 06/8/2016 09:34

If you click on the link I gave on post 9589.

KRG Publishes Monthly Production and Export Revenue Overview for July 2016



Financial Flows:
Description Amount (US $)
Gross value realised for the sold crude oil 461,196,477
Allocated to main producers according to their PSC entitlements -24,914,718
Retained by buyers against past prepayments -63,424,530
Net cash balance retained by the KRG for June sales 372,857,229
New prepayment loans against future lifting of crude oil 35,000,000
Payments allocated to minor producers and Kirkuk petrodollar -18,100,000
Total net income received in the month by the KRG 389,757,229
The net remaining amount of $389,757,229 plus other locally generated income by the Ministry of Natural
Resources was used to fund the July salaries of the KRG employees

[karateboy] 06/8/2016 08:51

You are relying on thr RNS issued . Do you have any other evidence say KRG website,...that KRG only paid $24.9m for June oil sell.

[hangthedj] 05/8/2016 21:56

To me it's this simple, KRG have only paid out a total of $24.9m during July (for june production)and that ties in with the payment RNS on 27th july for taq taq production.

Nothing else paid during the month of July to Genel or GKP (for june production).

Not got anything to do with company's not acknowledging payments via an RNS but simply the KRG have not made any other payments.

It's there in black and white.

[karateboy] 05/8/2016 20:12

May IOC are being paid, but they are not issuing any RNS. It is routine now.

[hawkey2] 05/8/2016 18:50

Don't think it means that. They are talking about July payments not June.

We (inc DNO) are already owed about 40$ for Tawke (25% us) from June......

[cyan] 05/8/2016 17:10

So we won't be getting a dividend soon then , doh!

[hangthedj] 05/8/2016 16:51

Only $24.9m in total paid out to oil producers during July according to the latest KRG production update. That means only the Taq Taq payment been made, doesn't bode well for future sentiment as reflected in share price.

No direct payments to Genel or GKP for production.

[cyan] 05/8/2016 15:49

Low POO hits all.



Brent now $43.63 . I spoke too soon it seems

[cyan] 05/8/2016 13:52

Malcy on POO



Brent holding its gains at $44.34

[wantmorethan24p] 05/8/2016 11:46

will we get the payment RNS soon???

[robbiekeane] 05/8/2016 11:21

what is the payment mechanism for that gas project?

[wantmorethan24p] 05/8/2016 10:42

they have a big gas project.


i feel tawke payment is imminent

[ozzmosiz] 04/8/2016 22:28

Genl are not gkp

[cyan] 04/8/2016 21:59

"Crude Oil Rises Second Day as Traders Seen Covering Bearish Bets"



Brent now $44.16

"Greenspan Suggests Oil Prices Have Probably Bottomed Out at $40"