Genel Energy Share Discussion Threads

[seball] 18/8/2016 10:48

Positive developments.

[seball] 18/8/2016 10:48

Positive developments.

[bidmsa] 18/8/2016 10:46

2016-08-18 08:01:03

DNO Drilling New Tawke Wells on Back of Profitable Second Quarter

Oslo, 18 August 2016 - DNO ASA, the Norwegian oil and gas operator, today announced a second consecutive quarter of operating profits and the launch of an aggressive drilling campaign at the company's flagship Tawke field in the Kurdistan region of Iraq.

Following an extensive workover campaign at Tawke, five new production wells will be drilled in the second half of the year to boost capacity. Two rigs are currently active at Tawke; the Tawke-31 well, targeting the main Cretaceous reservoir, is the first production well to be drilled at the field since late 2014 and will reach target depth of 2,200 meters in September. A third rig will be added to drill an appraisal well in the fourth quarter at the previously discovered Peshkabir field.

The company's operated production in the second quarter climbed 27 percent to 122,900 barrels of oil equivalent per day. Tawke production stood at 117,000 barrels of oil per day, nearly all of which was exported at an average price of USD 34 per barrel.

Company-wide revenues reached USD 61 million, marking the fifth consecutive quarter in which revenues totaled USD 50 million or higher. DNO's operating profit in the second quarter was USD 16 million, up from USD 8 million the previous quarter.

"Resumption of regular and predictable export payments underpin new investments at Tawke and other fields," said DNO's Executive Chairman Bijan Mossavar-Rahmani. "There is more value we can unlock in Kurdistan," he added.

The company last month launched a cash and shares offer to acquire Kurdistan-focused Gulf Keystone Petroleum conditional upon completion of the latter's financial restructuring, timely and irrevocable undertaking of support by the largest noteholders and bondholders and approvals from the Kurdistan Regional Government. Combined, DNO and Gulf Keystone would place first among European independent E&P companies in terms of production and also proven and probable (2P) reserves.

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For further information, please contact:
Media: [e-mail]
Investors: [e-mail]
Tel: [phone]

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DNO ASA is a Norwegian oil and gas operator focused on the Middle East and North Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Yemen, Oman, the United Arab Emirates, Tunisia and Somaliland.

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[bidmsa] 18/8/2016 10:36

KRG welcomes statements by Iraq's new oil minister
By Rudaw 4 hours ago


ERBIL, Kurdistan Region -The spokesperson of the Kurdistan Regional Government (KRG) says Erbil is supportive of talks with Baghdad over oil export and revenues.

Speaking to Rudaw on Wednesday, Safeen Dizayee praised the newly appointed oil minister in Iraq Jabar al-Luaibi as "professional" and welcomed his recent comments about the Kurdistan Region.

"We are ready for talks and express our gratitude towards the new oil minister," Dizayee said, referring to al-Luaibi's comments on Monday in Iraq's Al-Sumariya TV, where the minister said he wanted to solve the pending disagreements with the Kurdish government over revenue sharing.

The Iraqi central government has virtually suspended all payments to the KRG since February 2014 after it accused Erbil of selling its oil independently of Baghdad.

The KRG is exporting around 500,000 barrels per day directly to the Turkish Ceyhan port and has received the revenues from international buyers largely without Baghdad's interference.

"If there is a strong will in Baghdad for negotiations, of course we are ready to meet," Dizayee said. "But for us the issue is not personal, as we had the same problems with former oil minister Adil Abdul Mahdi, who was even a great friend of the Kurds."

Al-Luaibi is one of five newly appointed ministers by Prime Minister Haidar al-Abadi, who has struggled to reshuffle his controversial cabinet for months.

"We need to seriously look into the problems and find solutions that serve all the people of Iraq," Dizayee said.

[ohdearohdearohdear] 18/8/2016 08:58

Nope - what has happened to the remainder of June's payment?

And don't forget, they promised to send the previous months payment within ten working days. So not only have we not received June's payment, but we are already late for July's payment.

Next question.

[nodoe] 18/8/2016 08:53

odear....are you posting from the year 2015?

[ohdearohdearohdear] 18/8/2016 08:41

It doesn't matter what the oil price is if Korruptistan isn't going to pay for it.

Never invest in a 'stan.

[dalailama] 18/8/2016 08:12

Agreed bidmsa, it should all of a sudden take off as share price ridiculously low.

[bidmsa] 18/8/2016 08:11

price $50 a barrel

[bidmsa] 18/8/2016 08:07

we should be back on £1.40 by now.
what's going on?

[grsl] 17/8/2016 23:33

Hi Tradezmarter nice to see you here, have the greatest respect of your charting knowledge and am quietly confident that your above predictions will be spot on.

[tradesmarter] 17/8/2016 22:37

For now many appear to be watching the "small move" above 105 will see 120, below 102 targets 95p, but i reckon the new "higher low" of 95p will move up to find support at big number 98-100p. But i reckon we are "forming a solid base" ahead of next move north and for now just need to gather some strength and stamina. Whilst many will be targetting a move back to 130-140, the "measured move" implies 200p first target on a break and close above around 140. May seem a long way off but previous 20 day "resistance" has now turned support and for now tight trading range 102-106 suggests the recent upmove from 95p has held. Frustrating i know given the rise in poo but imvho anything below 140 is a good buy and i was lucky to get entry at support

This isnt a "technical trading share", but patterns and price points repeat themselves all the time and resistance becomes support etc so my take is that the reward is worth the risk (although risk is there)...for now why worry about a few p move when the target is for another £1 move on the break and start of uptrend?....a close below 95p would see my view wrong and be out of the money


free stock charts from uk.advfn.com



free stock charts from uk.advfn.com


previous and entry chart at 96p

free stock charts from uk.advfn.com

[golfhelicopter12345] 17/8/2016 21:07

IMF loan to Iraq potentially massive.

If extended to KRG and condition is replayment of IOCs, this will

1. See GENL paid c. $400m (125p per share)
2. Transform sentiment towards Kurdish O&G and allow all operating here to re-rate upwards.

I would suggest 350-400p under such a scenario.

[seball] 17/8/2016 15:41

POO rallying, expecting Genel share price to follow.Think we could see some positive developments with IMF loan to Iraq. Good luck

[woodpeckers] 17/8/2016 14:10

POO $49.3 Sparky, so even more crazy.

[sparky333] 17/8/2016 12:26

BOTs in complete control of Genel at the moment.POO up to $46 and yet we are struggling to gain any momentum.It will change but how long ?

[sparky333] 16/8/2016 13:41

Looks to me they are just sucking in sellers and have been for days.I expect a very large trade soon as the order is completed and the. Boom age .

[cyan] 16/8/2016 12:22

Malcy on POO as posted yesterday;



Brent $48.54

[cyan] 16/8/2016 10:30

An interesting interview on POO. I have thought the same for a while.
Spot the typo competition ; clue; price next year.



Brent $48.57

[cyan] 16/8/2016 10:11

"This Oil Market Hears What It Wants to Hear"



Brent doing quite well at the moment; $48.42

[grsl] 16/8/2016 00:46

Good morning Cyan, just checking in, British bulls I only find useful for TA signals. Good move on oil price this evening, maybe we'll see it reflect on the Genel share price tomorrow.

[golfhelicopter12345] 15/8/2016 20:46

Some chatter pipeline was down for 4 days earlier in the month?

Can see no other reason for no price action today.

Brent still on the rise.

[cyan] 15/8/2016 15:13

I think you maybe right Stan.