Genel Energy PLC: Update on Qara Dagh PSC (893677)

 
 Genel Energy PLC (GENL) 
Genel Energy PLC: Update on Qara Dagh PSC 
 
22-Oct-2019 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                      22 October 2019 
 
           Genel Energy plc 
 
           Update on Qara Dagh PSC 
 
      Genel Energy plc ('Genel' or 'the Company') is pleased to announce the 
signing of a contract with Parker Drilling for the drilling of the QD-2 well 
       on the Qara Dagh field (Genel 40% working interest, operator), in the 
                      Kurdistan Region of Iraq. 
 
 The QD-2 well will test the structural crest 10 km to the north-west of the 
    QD-1 well, which tested sweet, light oil from Cretaceous carbonates. The 
                      Parker-269 rig has been contracted to drill the well. 
 
Civil construction works for the well pad and camp are now underway, and the 
                      well is on track to spud in H1 2020. 
 
 Unrisked gross mean resources at Qara Dagh are currently estimated by Genel 
                      at c.200 MMbbls. 
 
           -ends- 
 
                      For further information, please contact: 
 
Genel Energy                          [phone] 
 
Andrew Benbow, Head of Communications 
 
Vigo Communications                   [phone] 
 
Patrick d'Ancona 
 
                      Notes to editors: 
 
       Genel Energy is an independent oil and gas exploration and production 
  company listed on the main market of the London Stock Exchange (LSE: GENL, 
    LEI: 549300IVCJDWC3LR8F94). The Company, with headquarters in London and 
offices in Ankara and Erbil, is one of the largest London-listed independent 
   oil producers, and is the largest holder of reserves and resources in the 
   Kurdistan Region of Iraq. Genel has highly cash-generative oil production 
    from the Taq Taq and Tawke licences, with material growth potential from 
other assets in the portfolio. Genel also continues to pursue further growth 
 opportunities. For further information, please refer to www.genelenergy.com 
                      [1]. 
 
ISIN:          JE00B55Q3P39 
Category Code: MSCM 
TIDM:          GENL 
LEI Code:      549300IVCJDWC3LR8F94 
Sequence No.:  24126 
EQS News ID:   893677 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=3ec46b352f38452116096dbbab51b09e&application_id=893677&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

October 22, 2019 02:00 ET (06:00 GMT)