Genel Energy Share Discussion Threads

[linton5] 22/1/2018 07:17

Are you in noddy land soho2,waking up lad lol up and st em tam

[losses] 22/1/2018 07:16

There is now!!! Boom shack-a-lak

[gregpeck7] 22/1/2018 07:15

Payments in :)Let's go

[soho2] 22/1/2018 07:08

Surprised there s no RNS yet !

[soho2] 22/1/2018 07:07

The Tawke partners have received $53.71 million from the Kurdistan Regional Government as payment for October 2017 crude oil deliveries to the export market from the Tawke licence. Genel's net share of the payment is $13.43 million.

[dmore2] 21/1/2018 21:01

Maybe RPS ENERGY CONSULTANTS please do the next TaqTaq CPR please

[gregpeck7] 21/1/2018 20:47

Intention to round up holding to the nearest 10,000 here tomorrow AM.. Everything is primed for lift off now.

As I said before. This amount of gas does not get left in the ground.

As others and myself have asserted though.. This is undervalued as an oil play. Let alone a gas one...

And undervalued significantly.

Pesh next... I am pencilling in circa 37 - 48% of Tawke P2 reserves for Pesh. Lets see what happens.. I believe we may see some numbers from DNO next 60 days....

GP

[hawkey2] 21/1/2018 19:07

No I sure don't.

I have no idea how this will pan out re the KRG / Bagdad situation.

It looks more likely that at some stage Bagdad may take over everything....we shall see.

Just hope that who ever controls the assets plays by the rules......

Hawkey

[pogue] 21/1/2018 18:37

Hawkey
the KRG will never see the income from the gas as far as I can see as they will be signing all oil, and presumably gas, income over to Baghadad when they come to an agreement on the payments from Baghdad as per constitution. Do you know different?

[hawkey2] 21/1/2018 18:15

GAS THOUGHTS.......

So we now know that our Gas fields are actually world class and significantly bigger than we thought.

The KRG urgently need this Gas as they are in a very very very tricky place both with the fact that they are almost bankrupt ad their relationship with Bagdad who seen to be tightening the noose around the KRG neck every day.

The Turks want this Gas so that they aren't so dependent on the Russians.

The Russians want this Gas and are pumping up to 3$ billion into the KRG oil and gas sector.

So if you were oil and gas minister of the KRG and bearing in mind the deal is due to be inked by February......What conversation would you be having with Genel in the coming day. i.e. Very very shortly....

[hawkey2] 21/1/2018 18:15

So what have we got to look forward to this week. Well potentially:

Peshkibar 4 Spud
Tawke Monthly Payment
Trading Update. The free cash will be madness.
Somalialand 2D results.
Taq Taq drilling results.

Sssh....Dont talk about the Gas deal.

Hawkey

[d1nga] 21/1/2018 18:09

cyan now that isis are defeated the majors are rushing back in already

bp are back in the north Iraq fields just announced last week with a view to doubling production ,I was just talking yesterday to a bp production engineer who departed there 2 or 3 years ago due to isis, and the equipment they have is antiquated ,dangerous and not up to the task , in a couple of years this will be sorted and its looking more likely the extra pipeline mentioned by baghdad recently will be required and will be laid , the strange thing he did mention was that bp were committed to the oil contract but shell has/had the gas contract which seemed strange to me , also most of the gas was flared due to poor compressor reliability

[nicksig] 21/1/2018 18:01

Not sure how they make that cash generation prediction Hawkey without knowing a) the ongoing price of poo; b) what Pesh will add in due course; c) how Taq Taq will fare

[cyan] 21/1/2018 17:59

At least one major thinks its worth getting back into Kurdistan NOW;



Imo the political risks to GENL are , to a certain extent, mitigated by the substantial Turkish holdings in the company.

[dmore2] 21/1/2018 17:48

when they start to pay dividends, all that wont matter any more

[cumnor] 21/1/2018 17:45

I hold these-just 10000-but the big negative here has nothing to do with cash generation, reserves or production. It is whether they will be allowed to keep the cash, oil or gas or, on a whim-get thrown out of the country, which is a possibility given where their main assets are. The issue here is political-add Turkey and Iran to the mix-not economic. Were it just the latter the share price would be way north of £15. Wont add for that reason-would like to-but hope the politics with Iraq get sorted and some of ye make a fortune because as a pure oil play it is way undervalued. imo.

[pogue] 21/1/2018 12:59

Karateboy
It’s a definite win for Genl Iraq has much more stable finances that Kurdistan and there are too many countries not wanting Iraq to fail so it will be given every help to make the country stable, the latter point you make is the unknown. I was sceptical a while back but now I am swinging towards the PSCs being transferred over to the new regime, subject to showing respect to the new paymasters in the traditional way. The only point would be if the Iraqi government don't like the IOC or think they have gotten too good a deal for the assets something we will not know for a while but again showing respect in the usual manner would probably assuage fears, I think practicality will win over sadly though I am no expert on the Byzantine politics of the area and there are many ways I could be wrong.

[karateboy] 21/1/2018 12:33

I believe IOC in Kurdistan including Genl will benefit if oil exports are put under Central government control. Of course provided PSCs are recognised by central government.

[hawkey2] 21/1/2018 07:46

Hawkeys Sunday Musings

We received 139$ million dollars in the first half of the year of which 78$ million was free cash flow (before interest).

Question 1....Any thoughts about where this will be at end of year

Taq Taq 29w in the North flank was completed in November with the following results

"The well, which was drilled to a measured depth of 3,100 metres, encountered good quality oil bearing Cretaceous Shiranish and Kometan reservoirs. Six zones were subsequently tested over a 20 day period, with test rates of up to 6,400 bpd (40/64 inch choke) of 48£ API oil delivered from individual zones."

Management said it was early but they were optimistic of the potential the North Flank

Q2 Are we going to get an reserves increase in Taq Taq at some stage. Personally up to last few months I had written this one off.

DNO are drilling Tawke 44 and should be there about by now. DNO full year presentation 8th feb.

Q3 Will this be major news when announced. Due any day.

DNO have just taken on 10 yes 10 new exploration licences.

Q4 Surely with their funds and diversification isn't someone considering some kind of tie up. Look at the synergies,,,Kurdistan, Somalialand...etc

Peshkibar

"The Tawke licence partners are proceeding with fast track plans to commission an early production facility by year-end and complete installation of pipeline connections early in 2018 to allow ramp up of output at the Peshkabir field."

Q 5 Has the EPF been commissioned and is Peshkaber pudding in the next 2 weeks.

Just Old Hawkey waffling on a Sunday.........

Hawkey