Genel Energy Share Discussion Threads

[hpcg] 12/10/2016 11:59

Fangorn2 - hence my caveat about oil rise looking genuine for now. It could certainly be undone so I am prepared to sell at the first sign of trouble.

[swiftnick] 12/10/2016 10:37

We report in US Dollars, although of course some analysts may choose to translate this into GBP.

[cool hand kev] 12/10/2016 09:23

SP Due a rerating IMO on this news
100,000 buy :-)

[kulvinder] 12/10/2016 09:12

That is exactly why I would have thought the price should be flying now, as I understand it we do our business in US Dollars and report in GB Pounds meaning the net profits should be greater - or is that too simplistic?

[bulltradept] 12/10/2016 09:04

More wells! ;-)

[gregpeck7] 12/10/2016 08:41

And with the pound dropping like a stone... verybibteresting

[deccer1] 12/10/2016 08:33

"our producing oil assets in the Kurdistan Region of Iraq benefiting from production costs forecast at less than $2/bbl in 2016." (Genl, 3/3/2016)

"The Taq Taq and Tawke entitlement achieves breakeven at a Brent oil price around $20 a barrel, and promises to be significantly cash generative as the external environment improves." (Genl, 3/3/2016)


So when Brent Crude was $40/barrel in H1 2016, they were net cash generative above breakeven to the sum of around $20/bbl ($40 - $20 = $20).

With Brent rising to $45 in H2 2016, they were $25/barrel net cash generative above breakeven and with Brent now $52/barrel they are $32/barrel net cash generative; which is a 60% increase in net cash per barrel (after all costs, etc.) in Autumn 2016 compared to H1 2016.

[fangorn2] 12/10/2016 08:29

DNO - Kurdistan Operational update

Norwegian oil and gas operator, today reported the completion of three new production wells at the flagship Tawke field in the Kurdistan region of Iraq as part of a stepped up drilling program kicked off in July 2016.

Tawke production during the third quarter averaged 109,159 bopd, of which 108,759 bopd was delivered for export through Turkey.

[gregpeck7] 12/10/2016 08:22

Any links?

[bengal1] 12/10/2016 07:41

DNO news. Successful Wells on Tawke..production up..

[hpcg] 11/10/2016 16:44

Malcy is a good counter indicator. Looking at today's blog tells me all I need to know. Especially on the Sound transaction.

Anyway, the oil rise looks genuine and the cheques from the government have resumed so I think GENL is in a good position for now.

[cyan] 11/10/2016 14:26

About Malcy
Malcolm has over 30 years’ experience in the Oil & Gas sector and is a widely used media source. He often appears in print and on screen, and also writes an acclaimed daily blog read by much of the resources industry as well as investors both institutional and retail.

Malcolm is a Founding Partner of HydroCarbon Capital, which provides independent advisory services to the Oil and Gas sector. He is a Director of the Maven Income and Growth VCT 4 PLC, a venture capital trust listed on the Premium segment of the main market of the London Stock Exchange.

He started his career at Wood Mackenzie in 1979. He was an inaugural member of the No 1 Extel rated James Capel Oil & Gas team and also headed up corporate broking, acting for the Government in sales of British Gas, Britoil and other utilities. Subsequently he became Head of Equities and main board Director at Williams de Broe before moving to Teather & Greenwood. Following that, he ran his own consultancy for several years, acting for a number of quoted and private companies as well as being a board member and advisor. He has been a Director at Noble and then Westhouse Securities and has extensive contacts in the Oil & Gas sector globally. More recently Malcolm has been the lead advisor to an HSBC Zurich trust on oil, gas and energy investments as well as working with the oil team at VSA Capital.

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Look forward to comparing your CV 'wantmorethan24p'

Brent $53.05 goody goody

[helicopter123] 11/10/2016 12:58

Is the train leaving the station?

[fangorn2] 11/10/2016 12:36

Cyan,

Indeed, but BP are global, and get paid consistently.

We are geographically focused, and payment is a tad unregular!

BP would make agreat Buyer though :)

[cyan] 11/10/2016 12:28

Malcy on POO. Just look at how much BP's cost are compared to ours

[cyan] 11/10/2016 12:23

About time. This should have been 120p some time ago

Brent $52.55

[sparky333] 11/10/2016 12:16

Looks like it

[sparky333] 11/10/2016 08:47

The problem is took a lot of prepayment on oil to balance the books early in the year As can be seem by the recent $188m payment Once this clears I would hope this is directed to the IOCs

[nodoe] 11/10/2016 08:26

I agree Sparky....but if Krg has more income, it should filter down into regular payments and higher amounts.

[sparky333] 11/10/2016 08:07

Utter madness oil at year highs and we just cannot move the SP?

[losses] 10/10/2016 23:32

Depends also on US. Elections next month... looks like Hillary or Trump... both bad in their own ways.If Trump wins I'm definitely expecting a massive slide in shares.