Genel Energy Share Discussion Threads

[w1ndjammer] 30/3/2017 13:55

told you guys HNR

WJ.

[cyan] 30/3/2017 13:38

Brent now $52.63!

[kmann] 30/3/2017 13:38

DEFINATELY a buy in the background. Wait for holdings RNS. Shorts, youve been warned.

[cyan] 30/3/2017 13:34

The most relevant numbers for me are the market cap of £175m and 100% of 11TF

[alem54] 30/3/2017 13:32

if i'm not mistaken wshak you also had considerable equity in wshak - you still hold that?

[cyan] 30/3/2017 13:17

Malcy has his say on GENL's results. Also generally positive on POO.



Brent $52.14

[wshak] 30/3/2017 12:53

I own quite a few bonds bought from much lower - I've no intention of tendering. Why would I?

[panagos] 30/3/2017 12:46

just bought a few more, not betting the house but looks like a good risk reward at this price.

[nicksig] 30/3/2017 12:08

If nothing else news on gas partners plus further news on Pesh should drive the share price in the short term

[kmann] 30/3/2017 12:06

I think they have already had offers. Sometimes people just want to liquidate and move on. Some of those bond holders probably bought at the depths of the oil crisis at 60p from a distressed seller?

So far the market thinks the buybacks and the results outlook are a positive sign things have moved forward.

BUY

[hpcg] 30/3/2017 11:48

The tenders will tell us a lot about bond holder thinking. I am presuming the company reckons they will gets tenders at the current price circa 80p. That is a good rate of return. It also signals that some bondholders in size do not envisage getting their money back, interest included. A sizeable tender below spot would be a red flag, whilst a lack of tenders would be positive. Game theory from the bondholders comes in to it as well; ideally one would like to know what other actors intend to do. Worst case for all concerned is that the entire issue is tendered at spot, and everyone is scaled back.

The problem Genel has is that one way or another it needs to spend money. It either has to retain a decent proportion of the gas field, and pay development costs, or do something about Taq Taq. Probably both. It doesn't need cash if it is prepared to farm down the gas all the way to full carry, but then it loses a huge chunk of the revenue. Even if everyone tendered at 66p and Genel paid of the entire debt then it would be left with no cash. There is a lot of uncertainty to say the least.

[kmann] 30/3/2017 11:24

Did dopey roper get his numbers wrong again

Heres what it said, MINIMUM of $50million buyback, so could buy more, which means they are in for a massive payout, no further funding needed.

Genel Energy plc



Announcement of bond buy-back offer to bondholders



Genel Energy Holding Company Limited ('the Company') is hereby announcing a reverse tender offer (the 'Buy-Back Offer') to holders of Genel Energy Finance plc's ('the Issuer') USD 730 million GENEL01 PRO senior unsecured callable bonds with ISIN NO0010710882 (the 'Bonds'). All bondholders, subject to legal constraints, are invited to offer Bonds to the Company, being the sole shareholder of Genel Energy Finance plc and guarantor of the Bonds. The Company intends to select one price ('Maximum Accepted Price') and buy Bonds offered at and below this Maximum Accepted Price at the price offered by each bondholder ('Offer Price').

The Company intends to buy back a minimum of USD 50 million in nominal value of Bonds, and will seek to cancel all Bonds repurchased, including current treasury bonds with nominal value of USD 55.4 million.

The Buy-Back Offer will commence on 30 March 2017 at 09:00 CET and will expire on 6 April 2017 at 16:00 CET. Prior to 09:00 CET on 7 April 2017, the Company will determine the Maximum Accepted Price and consequently the total amount of Bonds to be purchased. The Company may, in its sole discretion, waive, amend, extend, accelerate, terminate or withdraw the Buy-Back Offer at any time. Information regarding any such amendments will be published under the Issuer's ticker on www.newsweb.no, the information service of the Oslo Stock Exchange, and www.stamdata.no, the information service of the bond trustee for the Bonds, Nordic Trustee ASA. Cash settlement for the Bonds, including accrued interest, is expected to occur on 11 April 2017.

The Company will only accept offers from a bondholder or beneficial owner of the Bonds (or any person acting as agent, custodian, fiduciary or in another intermediary capacity for a bondholder or beneficial owner) who is not a U.S. person (as such term is defined pursuant to Regulation S under the US Securities Act of 1933, as amended (the 'Securities Act')) and who is outside the United States.

The Company has retained DNB Markets as broker to manage the Buy-Back Offer. Eligible bondholders may provide offers for sale of all or a portion of their Bonds through submission of the bondholders offer form (the 'Bondholders Offer Form') by e-mail to [e-mail]. The terms of the Buy-Back Offer and the Bondholders Offer Form will be published on www.stamdata.no or can be obtained by contacting DNB Markets on [phone].

[kmann] 30/3/2017 11:19

"We have commenced discussions for upstream and midstream with TEC," Oezguel said, adding Genel was holding parallel talks with other big companies, although a deal with TEC was a priority.

Analysts recognised the gas assets as being potentially transformative for the company"

[panagos] 30/3/2017 11:07

where dies it say that bomd buy back price is 50%? tia

[kmann] 30/3/2017 10:55

Bond buy back suggests they are serious about the future, unlike some of the clowns posting here!

Another on of those shares where all the bad news has been outed, the balance sheet is strong, the cash flow is good, (they should restore any lost production from the the well, and tawke still pumping 100+ k/pday)

Gas project news about to be released. Bilgen buying more shares, as this project gets nearer.

[hernando2] 30/3/2017 10:54

If bondholders are taking a 50% haircut they are telling equity holders that they think the equity has little value.

Even if they have traded the bonds and got themselves into a position where 50% haircut is not too serious finance wise, it is still telling equity holders that they think the equity is worth very little.

And as has been pointed out, they are not trading anywhere near 50%.

Even taking 85 or 90% is not what bondholders tend to do, unless they see too much risk here v's better / safer opportunities elswhere.


IMO

[pogue] 30/3/2017 10:52

Bonds are trading at 80% just now no? Why accept 50% when the interest is being paid I wouldn't.

[karateboy] 30/3/2017 10:40

The next price movements should come when Bond buy back is announced. If company manages to buy more than $50m for a good price such as 50% of its nominal value that will be good.

[kulvinder] 30/3/2017 10:31

All in All, these results don't tell us anything as the revenue is going to fall over time based on lower amounts of oil available, so until GAS is confirmed, only then maybe the market will wake up to the potential value, until that time I see the share price very stagnant. I don't see a rapid rise here for a long time and people will lose interest in the share waiting for that to happen. Maybe best to cut my losses and move on, I will make a decision in the next week or so. Good luck to all holders.

[w1ndjammer] 30/3/2017 10:19

only short term, you are only trading, you will be out tomorrow.

WJ.

[kmann] 30/3/2017 10:16

and the share price is RISING!!!

[w1ndjammer] 30/3/2017 10:14

As you can see net debt is increasing and production is falling.. !!

WJ.

[karateboy] 30/3/2017 10:13

Mr Roper you are mathematically incompetent . Let me do the math for you from your figures. Dropping from 53000 to 19000 it is 64% drop not 150%!! You are mathematically lying because of your math incompetency.

[phillis] 30/3/2017 10:07

what are you doing here Roper
(apart from making yourself look silly)