Genel Energy PLC: Update on Taq Taq PSC (798651)

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 Genel Energy PLC (GENL) 
Genel Energy PLC: Update on Taq Taq PSC 
 
11-Apr-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. 
 
11 April 2019 
 
           Genel Energy plc 
 
           Update on Taq Taq PSC 
 
  Genel Energy plc ('Genel') is pleased to announce an update on activity at 
    the Taq Taq field (Genel 44% working interest), as testing of the TT-20z 
                      well has now completed. 
 
     The well has entered production at an initial rate of 2,000 bopd with a 
    24/64" choke, and this figure is expected to rise. With the inclusion of 
       this production, gross production from the Taq Taq field is currently 
       c.15,500 bopd, with Genel's overall net production now c.39,000 bopd. 
 
    The well flowed oil from all three zones tested, with a maximum combined 
                      flow rate of c.4,000 bopd with a 40/64" choke. 
 
   The well is further proof of the remaining potential on the flanks of Taq 
  Taq field. With Taq Taq wells an attractive capital allocation option, the 
  rig has moved to drill the TT-33 well, on the southern flank of the field. 
        The well was spudded on 25 March, and is expected to take 90 days to 
                      complete. 
 
           -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.:  8170 
EQS News ID:   798651 
 
End of Announcement EQS News Service 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=3ec46b352f38452116096dbbab51b09e&application_id=798651&site_id=vwd_london&application_name=news 
 

(END) Dow Jones Newswires

April 11, 2019 02:01 ET (06:01 GMT)