Genel Energy Share Discussion Threads

[cyan] 29/3/2017 13:40

Good afternoon loglorry1.
The bond price tells the story. Their value shows that , those with money, are not wringing their hands over the bonds.
They are not like GKP whose bonds were secured. Ours are unsecured.
I do not expect there would any trouble getting another set away if needs must.
There will likely be further impairments tomorrow on the gas assets. That is a paper exercise.
The long term story for GENL is the gas. Unlike our oil reserves the opinion regarding the gas is that they actually have a reasonable chance of substantial increase in the volumes in place numbers.

Whilst some panic and sell I expect others will hoover them up.

[carla1] 29/3/2017 13:03

Ouch... see this absolutely tanking tomorrow...

some folk are going to lose a fortune eh CYAN ??

[mr roper] 29/3/2017 12:42

How are they going to take the gas forward? They need 1bn bucks! Bilgin will taking the gas from the administrators

[loglorry1] 29/3/2017 12:04

@D1nga I agree Taq^2 is priced in at 0p. The worry has to be that the debt needs refinancing and equity is rinsed. An asset sale would make sense perhaps to clear the debt. The debt is trading around 80c I think so not terribly distressed.

[d1nga] 29/3/2017 11:54

if it does tank I will load up massively

gas is the way forward - taq taq all in the price now , tawke is going ok

some news re gas and it will fly tomorrow

added a few at just under 59p

[wantmorethan24p] 29/3/2017 11:48

agree in the 40s tomorrow.

[mbmiah] 29/3/2017 11:37

Holders are getting battered hereTomorrow cannot disappoint and if it does then I can see a massive 20+% drop in share price AIMO

[wantmorethan24p] 29/3/2017 11:37

bye gulfsands.

[alamaison5] 29/3/2017 11:37

alamaison5
29 Mar '17 - 08:14 - 17134 of 17141 0 0 Edit
Shorter day... As they have refueled yesterday...

[wantmorethan24p] 29/3/2017 09:31

guys if you want your money back .

gulfsands looks an exciting investment when the war is over in syria.

i switched from here to gulfsands.

its sitting on an asset worth between $400m-$500m

[nicksig] 29/3/2017 09:27

Maybe Bilgin put pressure on them to release this news?

[karateboy] 29/3/2017 09:25

I am still puzzled why CPR announcement was not delayed to full results. Has company wanted to get the bad news out before telling us what are they doing on gas development issues? I hope it is.

[alamaison5] 29/3/2017 09:25

kMan: Buying? Lol, not before the results...
Expect another 10/5% fall tomorrow!

[kmann] 29/3/2017 08:31

Oil surging ahead now. Another chance to buy these lows.

[alamaison5] 29/3/2017 08:14

Shorter day... As they have refueled yesterday...

[cyan] 28/3/2017 17:33

Looking at the now out of date numbers ADVFN have up it will be interesting to see what the full results reveal.


Net Cash PS 133.52 p
Net Tangible Asset Value PS * 324.04 p
Net Asset Value PS 924.87 p
Spread 0.75 (1.20%)

* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

[hpcg] 28/3/2017 17:12

According to FT Alphaville a couple of brokers notes have target prices of 57 and 60p post this announcement. That is with a stronger forward strip than present, one of them for Brent at 70. I suspect some of the strength is the Libyan disruption, and possibly also an SLB conference presentation warning onshore US that costs will rise. Shale is still burning money so I remain moderately bullish for oil prices in the medium term, but 60 looks like a cap this year as strength into driving season will be sold into by anyone, not least those countries that have cut production.

Downward catalysts here will be results, reduced KRG payments, and worse, and now monthly news on the Taq Taq water cut.

[cyan] 28/3/2017 16:10

The nicest posters turn up on days like this;


upwego - 28 Mar 2017 - 08:09:15 - 17073 of 17131 Genel Energy - "Largest oil producer in Kurdistan region of Iraq" - GENL

"short on at 57p wait till the institutions start dumping will continue to go dowm"

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

How is your short doing Chris?. Missed your pearls of wisdom.

[papillon] 28/3/2017 15:42

To think just 3 years ago this was over £10. If I remember correctly the IPO was £10 per share around 5 years ago. Institutions forked out a billion (dollars, or pounds?) at £10 per share. Ouch!

[alamaison5] 28/3/2017 13:40

I guess shorter are refueling...
I've seen it before. Tomorrow should be a big test.: 55p to 65p. Still decent for a day trade.

[orinocor] 28/3/2017 13:24

You've called this right Mr Roper.

I would have expected this to be in the low to mid teens by now so I'm as shocked as everybody else regarding the share price strength.

[mr roper] 28/3/2017 12:57

just in case you missed it..look at the 3P number...there's the upside.. shot to pieces...

Gross oil reserves
(MMbbl) 1P 2P 3P
--------------------- ------- ------- --------
31 December 2015 60.0 171.8 416.4
Production (23.8) (23.8) (23.8)
Technical revisions (10.4) (89.0) (297.6)
--------------------- ------- ------- --------
28 February 2017 25.8 59.1 95.0


The further reduction in reserve estimates for Taq Taq is a consequence of a reassessment of the gross rock volume above the oil water contact and fracture porosity in the undrained Cretaceous Shiranish reservoir. This follows an analysis of reservoir surveillance data and well performance in 2016 and the first two months of 2017.

The McDaniel CPR states that there is still significant uncertainty in Taq Taq oil reserves. In particular, reserves are dependent on the Shiranish formation fracture porosity in the un-swept portion of the reservoir, which remains very difficult to estimate.

The Taq Taq field is currently producing c.19,000 bopd, compared to c.36,000 bopd at the end of 2016. Recently, key producing wells have exhibited high rates of decline as a result of water breakthrough, exacerbating the decline rate across the field.

[mr roper] 28/3/2017 12:54

i see some of the usual suspects are back to pump this dog up.

One more impairment to come.. $500m and hello bondholders...