Genel Energy Share Discussion Threads

[hawkey2] 01/9/2016 21:37

SO WHAT DO I KNOW THAT YOU DON'T ??

My name is Bijan Mossavar-Rahmani and I am the Executive Chairman of DNO.

Currently we are heavily invested in Kurdistan in fact we are trying to buy another company (GKP) at present for about 300$ million..

We are at present owed about 1$ billion, yes billion for oil supplied to Kurdistan to Kurdistan plus about 40$ million for the last few months.

We have our foot on the accelerator at present and are spending about 80$ in the next few months. Next year we will take production from Tawke over 200k per day and will spend over 200$ million in Kurdistan.

So the question is....What do I know that you don't...

Hawkey

[golfhelicopter12345] 01/9/2016 15:33

DNO seem very relaxed about the payment structure - they are investing at Tawke to raise production to 200k bopd, whilst also bidding for GKP.

[fangorn2] 01/9/2016 11:22

1st September.
One payment for three months Oil exports now.
June, july, August Oil production, only June paid for, at end of July.

Can be the lowest lifting costs in world but this simply isnt sustainable.

Plenty of chatter on missing "hundreds of millions, corruption" etc but ultimately (unless this is untrue) the absence of the 17% constitutionally due budget has been the key factor.

Some, such as Michael Rubin, claim KRG has been receiving its percentage share of the budget. yet to see any evidence of this though.As far as I can see the most the Kurds ever received was 11%, 2014 it received nowt but a one month payment in December..and the rest is history.

[cyan] 31/8/2016 21:10

POO does not help our share price either;

"Business Live: Oil tumbles below $47 a barrel"



Brent now $46.95

[jotoha2] 31/8/2016 18:20

Right on the button there ohdearohdear , make these cowboys sit up and take notice , it's the only way!

[ohdearohdearohdear] 31/8/2016 18:14

They have already given the GKP goose a proper plucking. Which demonstrates that they do not give a toss about the private investor. As long as they get to fill their pockets with monies obtained through fraud, they are happy. All oil companies should stop pumping oil until they are paid in full. Barzani will be able to find the necessary billions in his offshore account.

[nodoe] 31/8/2016 17:50

The goose that lays the golden egg is being starved......are you that stupid Krg?

[fangorn2] 31/8/2016 12:00

Where's our July export payment?

Strangely absent - not in first 10 days of following month, nor at the end of the following month.

The slippage continues...

Which is why none of the majors are buying up cheap Kurd asset from distressed E&P'ers..

[cyan] 31/8/2016 11:21

Malcy on POO and GKP's late action;



We are a tad weaker in line with POO's weakness. Brent now $48.19

[pogue] 30/8/2016 11:36

Problem is there maybe fewer oil discoveries but there is a lot of fraccers sitting on acreage waiting for oil to rise. There will be a problem going forward but when is the issue.

[cyan] 30/8/2016 09:54

"Oil Discoveries at 70-Year Low Signal Supply Shortfall Ahead"



Brent now $49.61

[wantmorethan24p] 30/8/2016 08:54

excellent news

[seball] 29/8/2016 20:26

Excellent news that thanks.

[hawkey2] 29/8/2016 17:50

Positive start to talks.......

[hawkey2] 29/8/2016 10:57

So Kurdistan is now pumping an extra 150k BOPD through Turkey. The new Iraqi oil minister seems very keen to do a deal and talks are starting this week. This in turn would lead to Kurdistan receiving their 17% of budget and wiping out Kurdistans financial problems going forward. Could be.

This would intern release Kurdistans share of the IMF loan and would mean us getting our receivable which is over 400$ million. Could Be

Obama wants Mosul taken out by end of year so that could be the end of ISIL and increase stability in the are. Could Be.

Big payments due to us for last 2 months and the clock is ticking. Could arrive any day. Could Be.

This is an amazing share with so many "COULD BE's" (I will copy again the golden 20 later) but has been the most boring share in existence during the last month.

So it Could Be.......an amazing future or it could be good old Genel.

As the gamblers say............"Im in"

Hawkey The Gambler............

[hawkey2] 29/8/2016 10:57

20 GOLDEN REASONS TO BUY GENEL (Updated)

World Class Management (Nat Rothschild Tony Hayward, Ozgul, Monuhan)
Morrocan drills
New Iraqi Oil Minister
Debt Equity less than 1
Possible Kurdistan Indépendance vote
Some of lowest Production cost in the world.
2D Seismic to start in Somaliland in December (massive area)
Peshkabir to be skidded in October
Payment of Approx 25$ million due any day now.
Massive Gas fields development being planned
Market cap 7x less net assets
IMF Loan of 5.4$ Billion to Iraq to pay all Iraqi Oil companies
2.5 billion dollars in net assets
Oil over 50$ a barrel.
Tawke gross production up to 135k bopd from Jan 2017
Kurdistan Kirkirk pipeline production doubles in 1 week
Over 400$ million dollars in the Bank
10% owned by Major Turkish Energy company
Oil & Gas law negotiations this week
ISIL on verge of being defeated

[cyan] 26/8/2016 16:56

The payment situation is somewhat erratic. The one move that could really re-rate is the payment of the $400 million in the autumn.

Brent is now $49.71 and , as for flying; it is performing more like an overweight swan flapping & struggling to leave the ground. lol

"Lundin Says Potential Rebound to $100 Crude to Hurt Oil Industry"

[seball] 26/8/2016 14:28

Genel ready to rerate imo



SULAIMANI — Iraq’s Council of Ministers approved a draft of the federal budget for the fiscal year of 2017 on Tuesday (August 23), which includes a 17 percent appropriation for the Kurdistan Region’s budget.

[sparky333] 26/8/2016 09:00

Cyan, my issue at present is that the POO spot price has no relevance to Genel or DNO.Because the MNR agreed to pay the terms of the PSC which should be scaled as the price of POO increases.This is not now the case one July payment didn't arrive into the 8th Aug and was short by $8m. We are now the end of Aug and POO has held the high 40s for the month yet no payments yet and the odds are it will be Sept.This cannot go on like this Genel share price will never go anywhere if payments are erratic, shortfall or not even paided.5 days left in Aug for the MNR to meet its obligation ms which I think now they won't because of the 8th Aug MNR oil report.A business can't be run like this and investor confidence will be shattered again.Rabbit out of the hat time and transfer that cash MNR.

[cyan] 26/8/2016 08:42

"Oil Industry Shifts From Survival to Growth"



"Oil Trades Near $47 as Saudis See Freeze as Positive for Market"



Does look like we will drift sub 100p in the abscence of news. I wonder if GKP will surprise us yet.

Brent not too bad today; Brent now $49.52

[sparky333] 26/8/2016 08:34

This is all about payments now. Late and $8m short last month and now end of Aug and still nothing coupled with the 8th Aug MNR report.It is hitting Genel no doubt about it.POO has rebounded from $40 to high $46+ for the month so it's not POO.