Genel Energy Share Discussion Threads

[hawkey2] 26/1/2018 19:58

So this year we are planning to spend between 25$ and 40$ million this year on our Gas fields.

Now I wonder how much drilling you can get done for 40$ million.

So infect far from a quiet year on the Gas front I expect us to push on considerably.

I know we are doing awn extended drilling test on Bina Bawi-4 but Im pretty sure it won't cost 40$ million.

Politics sorted then ......BOOM.

Hawkey

hxxp://ekurd.net/kurdistan-genel-oil-fall-2018-01-26

[hawkey2] 26/1/2018 19:42

OK....Time for a Hawkey conspiracy theory.

Now Rosneft have lent the KRG a lot of money and are investing a small fortune. Something like 3.5$ billion in total. This includes building the Gas pipeline and possibly the Midstream.

BP are taking over some of the Kirkirk field just down the road from ours (not literally). Going from 450k per day to 750k per day.

BP own 20% of Roseneft....

Are we still looking for a Gas partner?

Join The Dots............................

Hawkey

[gregpeck7] 26/1/2018 16:35

Lol the pogue double act in full flow. Still buying the dips pogue?

[gregpeck7] 26/1/2018 13:28

Let's see shall we. I think you will also find I posted that I suspected Miran and Bina Bawi would be significantly updated but you choose to miss that.

[kulvinder] 26/1/2018 13:18

Since my funds left after all this gambling, I mean investing are limited and can't afford to give anymore away, I have decided to hedge on the down as well to protect this, won't go fully long till I see a clear direction. GLA all, whatever your strategy.

[stansmith3] 26/1/2018 13:02

gregpeckwhy do you think that?you have posted numerous price targets over the last few weeks of where you think was about to gonone of them materialised....but the happy long group liked themkeep dreaming

[pogue] 26/1/2018 09:18

Barzani did say they would hand over all the oil to Baghdad in the past however he did say it was in exchange for the 17% of Baghdad budget as per constitution seems to be a case of selective words being put in the statement. They will never hand over the oil until they get another source of income why Baghdad tried to suggest otherwise its just stupid. Looks like the negotiations could be going on for a while if they are playing these games.

[losses] 26/1/2018 07:20

Dutch Envoy Urges Baghdad to Lift Kurdistan Flight Ban Basnews English 26/01/2018 - 00:31 Kurdistan

[losses] 26/1/2018 07:18

ERBIL - Kurdistan Region's Prime Minister Nechirvan Barzani on Thursday refuted a statement issued by the Iraqi government claiming that Erbil has agreed to handover its oil exports exclusively to Baghdad.Speaking from Davos, Barzani said that the statement by Iraqi PM Haider al-Abadi's office which was published after their meeting a day earlier, was "far from the truth"."The statement they issued is far from the truth, we did not even discuss the matter, and they should not have issued such a statement," the Kurdish premier stated. "The Kurdistan Region's position is clear; we want to resolve all issues within the framework of the Iraqi Constitution."Barzani however said the issues pertaining to oil exports will be discussed between the delegations from Erbil and Baghdad in the near future.

[gregpeck7] 25/1/2018 23:04

I think feb we will see an initial cpr and or indication of pegs fields from don.

[nicksig] 25/1/2018 21:48

Hawkey that point about DNO is a good one. That’s where we’ok get a full update

[costax1654x] 25/1/2018 21:05

I think after FFI with Massive directors buys this one is one to watch as well!

[dmore2] 25/1/2018 20:28

Yeah I find the below statement odd, especially as pesh is being ramped up, and could be a big producer. I suppose they dont wanna make any promises, as genel are not overseeing pesh. Also in a previous statment early miran east oil production has been mooted.

"Combined net production from the Tawke and Taq Taq PSCs during 2018 is expected to be close to Q4 2017 levels"

[costax1654x] 25/1/2018 19:38

I think after FFI with Massive directors buys this one is one to watch as well!

[hawkey2] 25/1/2018 18:50

NO DYNAMITE...NO DISASTERS


So there we have it. Pretty much as we thought with no huge surprises. Thankfully.

WHAT I LIKED.....

The upstream field development plans are expected to complete shortly.
Miran and Bina Bawi capex of $25-40 million

The successful debt refinancing in late 2017, and the expectation of ongoing material free cash flow, provides us with a solid platform and financial flexibility to execute our GROWTH PLANS during 2018.

Preparations are underway to drill the Peshkabir-4 well.

As previously announced in late 2017, the TT-29w well was brought onto production after encountering a deeper free water level and more extensive oil bearing cretaceous reservoirs on the northern flank of the field than previously forecast.

The Company will continue to build momentum behind the development of Bina Bawi and Miran, and will continue engagement with potential farm-in partners for upstream participation AT AN OPTIMAL TIME to secure maximum value for Genel shareholders

Free cash flow (pre interest payments) totalled $140 million in 2017

IFRS net debt at 31 December 2017 stood at $135 million ($138 million at 30 September 2017)

WHAT I DIDNT LIKE

Going forward, the Company will revert to reporting Taq Taq field production on a quarterly basis,

Onshore Somaliland, the acquisition of 2D seismic data on the SL-10B/13 (Genel 75%, operator) and Odewayne (Genel 50%, operator) blocks has now completed. "MUCH MORE LONG TERM THAN I WOULD HAVE LIKED"

Combined net production from the Tawke and Taq Taq PSCs during 2018 is expected to be close to Q4 2017 levels (as disclosed above)

So thats the bits I liked and didn't like. In the coming weeks we could easily drift down as people see people will move or take profits.

On the other hand we have only 2 weeks to go until the DNOs full year presentation which could be fireworks. They will certainly want to release any good news they have before this time.

What did you take out of today............

Hawkey

[sparky333] 25/1/2018 16:03

Blue finish ?

[panagos] 25/1/2018 13:05

pogue has been buying left right and centre since he appeared here, I can tell ya!

[topazfrenzy] 25/1/2018 12:58

Is the Pogue buying the dip I wonder ...

[cyan] 25/1/2018 12:47

I would be very surprised to see $100 oil again. The earnings implications for GENL would be amazing. I won't hold my breath; just $80 will suit me adding another $120 million pa to gross revenues.

Brent now $70.82

[panagos] 25/1/2018 11:56

thanks for that. Well with such a low volume I don't see any wild swings either way. I see the update as generally positive. patience is required for serious re-rating on this one.

[kulvinder] 25/1/2018 11:54

Pangos,I hedged both ways, just in case we saw a big drop on news today, about even, rightly or wrongly I have removed my hedge and now only on the long side, we will see if this is a good or bad decision, as usual may turn out I should have waited longer for the dust to settle before removing it. Could do with this moving up the £1.50 - 1.60 territory to make me feel at ease, so not having to look at the price so often.

[panagos] 25/1/2018 10:36

KULVINDER

I was wondering, how did you hedge your GENL position the other day?

Using CFDs?