Genel Energy Share Discussion Threads

[hawkey2] 18/10/2016 12:24

With you guys.

We have so many reasons to rise but we just stay still.

No logic at all.

Any conspiracies ????

[gregpeck7] 17/10/2016 19:13

Hopefully Mosul will get retaken this week...

[jotoha2] 17/10/2016 18:13

If the outstanding debtor book is cleared , then share price should rerate to around £3.80 without doubt, question is how long before that is sorted.

[rangor] 17/10/2016 12:58

The question is, what price would management accept for a take out?

[gregpeck7] 17/10/2016 12:42

Weak poundOil price risingIraq settling downThese are new factors..I only mentioned tullow out of fairness as they didn't just mention genl..

[ihavenoclue] 17/10/2016 11:10

greg .... I was going to say the rising oil price and the weak pound should make a company like GENL a lot more desirable

All IMHO
Regards
IHNC

[cool hand kev] 17/10/2016 10:56

Tullow Oil PLC - Poised for a Takeover? March 17th 2006
It would appear to be old news.

[gregpeck7] 17/10/2016 10:13

V interesting chat at the weekend with a few city boys about the o and g sector.. they think with the cheap pound and oil rebound takeovers are on their way with here and tullow being their number one targets ( in their opinion) especially if situation on ground in Iraq keeps improving...

[oilandgas1] 14/10/2016 18:17

I agree .. a dip into the 80s would be a buy again until news arrives!

[pogue] 14/10/2016 17:09

It was obvious a few days ago to me the shorters were trying to take this down there were strong downward lunches during the up days and I will repeat again what I said we will be going towards 89p. I will buy again at that level for a swift trade when it goes over the £ again. Place your bets ladies.

[bengal1] 14/10/2016 17:02

Is there a poor trading update looming.. Why is this dropping...

[losses] 14/10/2016 10:02

It would be if they got paid regularly..I've got too many of these now..

[cyan] 14/10/2016 09:41

I prefer the word 'stonking' in this context.

Brent $52.35; a stonking buy

[gregpeck7] 14/10/2016 09:17

Running the ruler over this one.. looks a stinking buy in the current environment..

[cool hand kev] 13/10/2016 11:08

Oh 1 trade buy signal gone thro' Not that I believe in that.

[oilandgas1] 13/10/2016 09:26

Peshkabir-2 well was spudded!additional wells being spudded next week!

RNS - 12Oct

Genel Energy plc ('Genel') notes the announcement from DNO ASA, as operator of the Tawke field, that three new production wells have been completed at the Tawke field in the Kurdistan Region of Iraq as part of a stepped up drilling program kicked off in July 2016.

The Tawke-31 well, targeting the main Cretaceous reservoir will be brought on production following an acid stimulation program. Two additional wells targeting the shallow Jeribe reservoir, Tawke-33 and Tawke-34, are also being readied for production. A further Jeribe well, Tawke-37, will be spudded next week. The four wells are expected to cost less than $20 million in total and add about 10 percent to field output capacity.

Earlier this month the Peshkabir-2 well was spudded, aiming to appraise the Jurassic reservoir and explore the Cretaceous horizon on a previous discovery to the west of the main Tawke field. This well marks the completion of the current drilling program at the Tawke license which was initiated on the back of monthly export payments from the Kurdistan Regional Government. Plans to engage a third drilling rig were dropped in September though the company expects to re-start investments to boost production to a targeted level of 135,000 bopd following the resumption of regular and predictable payments.

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

Genl own a 25% stake in Peshkabir-2.

[cool hand kev] 13/10/2016 09:09

A little bit of consolidation before the next move up to 140

[valhalla3] 13/10/2016 08:42

Deccer you can have mine for 4 quid a pop mate.

[deccer1] 12/10/2016 20:48

So todays announcement of the newly completed wells confirms they are now able to ramp up production at Tawke to 135,000 bopd.

That compares to Tawke production of 117,992 bobd announced for July (announced 3/10/2016) thus giving a 14.4% production increase compared to July (and even more compared to June at 114,384 bopd).

Combine the production increases (above) with the increases in oil price I mentioned earlier today (below) and it looks very positive.

Share price target £4.


deccer1
12 Oct '16 - 08:33 - 10139 of 10148 2 0 Edit

"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.

[ihavenoclue] 12/10/2016 17:17

Kulvinder.... Oil price not helped things today? It hasn't helped the other way when it was rising

[linton5] 12/10/2016 16:36

We're getting there chaps patience,I'm needing it also on HDY as well lol

[kulvinder] 12/10/2016 16:34

Just can't get past 107p, I think needs to rise past 110p then maybe, just maybe we can see that rise towards 140p, oil price not helped matters today.