Share Name Share Symbol Market Type Share ISIN Share Description
Genel Energy Plc LSE:GENL London Ordinary Share JE00B55Q3P39 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  2.40 1.3% 187.60 967,635 16:35:15
Bid Price Offer Price High Price Low Price Open Price
182.20 183.80 190.00 180.40 187.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 284.42 78.87 28.50 6.9 523
Last Trade Time Trade Type Trade Size Trade Price Currency
17:59:10 O 1,347 184.162 GBX

Genel Energy (GENL) Latest News (3)

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Genel Energy Investors    Genel Energy Takeover Rumours

Genel Energy (GENL) Discussions and Chat

Genel Energy (GENL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-03-08 18:02:29184.161,3472,480.66O
2021-03-08 17:59:16187.6278,453147,192.73O
2021-03-08 17:37:15183.581,8233,346.68O
2021-03-08 17:24:25186.772,7965,222.06O
2021-03-08 16:35:15187.60353,347662,878.97UT
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Genel Energy (GENL) Top Chat Posts

Genel Energy Daily Update: Genel Energy Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker GENL. The last closing price for Genel Energy was 185.20p.
Genel Energy Plc has a 4 week average price of 151.80p and a 12 week average price of 131p.
The 1 year high share price is 190p while the 1 year low share price is currently 53.10p.
There are currently 278,731,234 shares in issue and the average daily traded volume is 828,141 shares. The market capitalisation of Genel Energy Plc is £522,899,794.98.
cyan: Its not like we are not getting paid anything at all. I would rather we were OWED $150 million in arrears than Genl had that as extra debt. lol Imo, We will get paid the arrears in the fullness of time . The higher POO will make that easier for the KRG.
topazfrenzy: Added some more yesterday, GENL looks like a real winner from here Is the big divi on the way in June?
cyan: I think the spark will come when the KRG agrees acceptable terms to develop Bina Bawi which has 37 million barrels of oil and an absolutely huge 8.2 Tcf of gas. This development has been in negotiation for a long time. These remarks were published last year in an RNS dated 3.11.20; " Bina Bawi (100% working interest and operator) · Genel continues to seek a response from the KRG to our proposal submitted in August 2020, which would enable the Company to progress the next stage of activity at Bina Bawi · Our proposal highlights the need to engage regional gas buyers on volume and price discovery and to improve project definition by undertaking the detailed front-end engineering of both the upstream and midstream processing facilities · Until a satisfactory response is received, Genel will maintain capex discipline, and will only commence investment upon certainty of alignment with the KRG and a clear path to monetisation " The gas volume is very impressive indeed. There have been problems progressing the gas assets ; so much so that GENL wrote down the Miran asset. That area contains another extraordinary amount of gas; 6.6 Tcf . It also contains circa 93 million barrels oil and condensate. One hopes that these assets will be progressed as the value is potentially transformational for Genel. A development agreement regarding Bina Bawi should significantly lift the sp, imo. If and when....
cyan: The current strength in POO is most welcome and will help all volume producers especially GENL who have some of the lowest costs. This article suggests we may be heading into a significantly higher price environment; at least for a few years; The real potential upside in Genels fortunes still remains the gigantic gas assets. We have been waiting a long time for that to flow in volume.
geckotheglorious: Yas Market Cap Genel £411m hTTps:// GKP £308m hTTps:// Share price movement might well be down to the difference in "market valuation" as the gap is considerable....
soho2: Genel Energy PLC: Trading and operations updateTue, 19 Jan 2021 07:00:05DGAP-UK-Regulatory: Genel Energy PLC: Trading and operations updateGenel Energy PLC (GENL) 19-Jan-2021 / 07:00 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.19 January 2021 Genel Energy plc Trading and operations update Genel Energy plc ('Genel' or 'the Company') issues the following trading and operations update in advance of the Company's full-year 2020 results, which are scheduled for release on 18 March 2021. The information contained herein has not been audited and may be subject to further review. Bill Higgs, Chief Executive of Genel, said:"Executing our strategy in 2020 through delivering low-cost production, paying a material dividend, and retaining our financial strength in order to invest in growth has helped lay the foundations for year on year production increases in this year and the years ahead. Bringing Sarta to production in 2020 despite the challenges of COVID-19 now means that we are generating revenues from our fourth field as we rapidly move to further appraise its huge reserve potential. The successful early refinancing provides us with the liquidity and financial certainty to continue prudently investing in growth while retaining a robust balance sheet and delivering returns to shareholders. We expect to drill 12 wells across the portfolio this year. These wells have the potential to add incremental low-cost and cash generative production at the Tawke PSC, add and convert contingent resources to reserves and add production at Sarta, and open up a new field at Qara Dagh. With numerous catalysts in the year and a more promising external environment than 2020, Genel is looking confidently ahead to 2021." FINANCIAL PERFORMANCE$173 million of cash proceeds were received in 2020 (2019: $317 million)Capital expenditure of $109 million (2019: $161 million), with spending reduced appropriately to reflect the external environment, yet ensuring continuing growth Free cash outflow of $5 million in 2020, pre dividend payment (2019: $99 million free cash inflow), comparison impacted by:Lower oil price ($42/bbl in 2020, compared to $64/bbl in 2019)Non-payment of $121 million relating to oil sales from November 2019 to February 2020Suspension of override payments with a cashflow impact totalling $38 million in 2020The low-production cost per barrel of $2.8/bbl in 2020 helped deliver asset level cash generation of $74 million in the yearDividends of $55 million paid in 2020, of which $14 million relates to the 2019 interim dividend paid in January 2020Cash of $354 million at 31 December 2020 ($377 million at 31 December 2019), net cash of $10 millionFollowing the call of the outstanding bond with a maturity date in December 2022, settled on 8 January 2021, Genel had cash of $273 million and debt of $267 million, a net cash position of $6 millionGenel currently retains $20 million of the 2025 bond, to reduce interest cost and increase future optionality OPERATING PERFORMANCENet production averaged 31,980 bopd in 2020, with net production in Q4 averaging 31,510 bopd (Q3 2020: 32,210 bopd)Production by field was as follows: (bopd)Gross production2020Net production2020Net production2019Tawke57,57014,39017,190Peshkabir52,71013,18013,800Taq Taq9,6704,2505,260Sarta520160-Total120,47031,98036,250 PRODUCTION ASSETSTawke PSC (25% working interest)Gross production at the Tawke PSC averaged 110,280 bopd in 2020, of which Peshkabir contributed 52,710 bopdProduction in Q4 2020 averaged 110,170 bopd, of which Peshkabir contributed 56,320 bopdThere will be an active drilling campaign in 2021 on the Tawke licence, with up to eight new development wells set to be drilled and multiple workovers on existing producing wells to be undertaken in the drive to maintain production above 100,000 bopdSarta (30% working interest)First oil production from Sarta began in November 2020, and the Sarta-3 well has produced at an average of c.5,500 bopd so far in 2021Due to ongoing COVID-19 protocols, production from Sarta-2 is now expected in February. A stable production level from both wells will be reached in Q1 2021The 2021 appraisal drilling campaign is targeting a material portion of the 250 MMbbls of existing contingent resources, and prospective resources, in Jurassic formationsThe campaign will begin at the start of Q2. Sarta-5 and Sarta-6 will be drilled back to back, with results from the first well expected in Q3, and operations on both wells complete in Q4 2021Re-entry and deepening of the Sarta-1 (S-1D) well is expected around the middle of the year. Should S-1D be successful, a flowline will be constructed in order to enable the well to enter production around the end of 2021Taq Taq PSC (44% working interest and joint operator)Gross production at Taq Taq averaged 9,670 bopd in 2020, following the suspension of drilling activity in H1 2020Q4 production at the field averaged 7,610 bopd, with an exit rate of over 8,000 bopd following the early implementation of part of the 2021 well intervention programme, which increased production from the TT-20z and TT-34y wellsWith activity at Taq Taq focused on optimising cash flow, no drilling is scheduled in 2021, with activity limited to workovers that will help manage field decline PRE-PRODUCTION ASSETSQara Dagh (40% working interest and operator)Preparatory activities are ongoing for the QD-2 well, as Genel continues to target a spud date late in Q1 2021. The water well project successfully completed in December, providing us with water for the drilling operationsThe well is expected to drill, complete, and test before the end of the year, with the field holding resources estimated by Genel at gross mean c.400 MMbblsBina Bawi (100% working interest and operator)Discussions with the KRG are ongoing at the highest levels relating to our proposals submitted in August and December 2020, which would enable the Company to progress the next stage of activityGenel continues to maintain capex discipline, and will only commence investment upon certainty of alignment with the KRG and a clear path to monetisation African exploration assetsThe uncertainty created by COVID-19 delayed the search for partners to fund and minimise Genel's spend on our potentially high-impact exploration wells, but the farm-out process relating to the highly prospective SL10B13 block in Somaliland (100% working interest and operator) is progressing, with potential partners involved in assessing the opportunityA farm-out campaign is also planned relating to the Lagzira block offshore Morocco (75% working interest and operator), with the aim of bringing a partner onto the licence prior to considering further commitments ESGZero lost time injuries ('LTI') and zero tier one loss of primary containment events in 2020 at Genel and TTOPCO operationsThere has not been an LTI since 2015, with over 13 million work hours since the last incident400,000 hours of work completed at Sarta without an LTIGenel expects our 2020 carbon intensity to be c.15 kgCO2e/bbl for scope 1 and 2 emissions, significantly below the global oil and gas industry average of 20 kgCO2e/boeThe carbon intensity of our portfolio reduced to 7kg CO2e/bbl of scope 1 and 2 emissions in H2 2020 following the material reduction in flaring at the Tawke PSC through completion and commissioning of the enhanced oil recovery projectWhile portfolio emissions will increase in 2021 following early production at Sarta, Genel is committed to significantly reducing those emissions as production at the field maturesGenel is analysing the most effective way to manage emissions, both annually across the portfolio and over the life of each asset, in order to deliver the Paris Agreement goals of limiting global warming to 1.5 degrees and leading to net zero by 2050 OUTLOOK AND GUIDANCEProduction in 2021 is expected to be slightly above the 2020 average of 31,980 bopd, with the potential for a higher exit rate and further growth in 2022 depending on success of the Sarta appraisal programmeAverage margin per working interest barrel of over $10/bbl expected in 2021 at average Brent oil price $50/bblPayments from the KRG continue to be made, with monthly payments received under the KRG's updated payment schedule for the past nine monthsOverride payments to resume from the January 2021 invoiceThe KRG has submitted a reconciliation model for repayment of the receivable relating to the $159 million in unpaid invoices, whereby for each cent above a monthly dated Brent average of $50/bbl, 0.5 cent per working interest barrel shall be paid towards monies owed. We continue to discuss this model with the KRG, and will update the market in due courseGenel retains significant flexibility over its capital expenditure, and will ensure that expenditure is appropriate to the external environment. 2021 capital expenditure is expected to be $150 million to $200 million, with the current outlook supporting investment at the top end of this rangeProduction: c.$80 million expenditure forecast, with all spend recovered through cash receipts in the yearGrowth: c.$100 million expenditure forecast, including wells and facilities costs, focused on material reserves additions and near-term productionOperating costs expected to be c.$50 million (2020: $33 million), with the increase due to the addition of Sarta early production costs, equating to $4/bbl in 2021 ($3/bbl in 2020), retaining our advantageous low operating cost positionG&A: expected to be c.$13 million (2020: $12 million)Genel expects to pay a material dividend, as we look to offer a compelling mix of growth and returns There will be a presentation for analysts and investors today at 0900 GMT, with an associated webcast available on the Company's website,
officerdigby: OK as per the DNO RNS. ....The KRG has put a" plan in place to make payments towards DNO’s arrears (USD 259 million) such that if Brent prices exceed USD 50 per barrel in any month, the incremental revenue will be shared 50-50 between the KRG and the Tawke license partners. Discussions continue to further improve the terms of recovery of the arrears...." This seems pretty good 50% of the excess revenue (over $50 per barrel) split between partners. So at $55 = $2.5 /barrel For GENL on TAWKE alone 110,000 x0.25 x$2.5x30 = Extra $2.6 per month).. this is positive as they pay back. But would take them a number of years too clear. So the question remains what did they do with the cash last year? <- on of reasons no trust and GENL et al have low share price ----- OK now shoot me down!
master rsi: I don't know but I do know the share price is at high of the day on a good order book 145 v 145.60p order book trades 49 v 33
master rsi: Time will tell on the share price performance today after the positive news, as Oil price is well down from early morning. note: the UT at close yesterday 142p was well over even of the offer price 142.0 12750 UT spread 139.60 v 140.60
chopsy: Well we got paid, the gas injection project is going well, but the share price is down. Our oil price charts are neglected. We need the gas deal that unlocks BB oil. Plus gas itself is not subject to the same vagaries as oil prices, it is a much needed commodity for electricity generation, there should be good demand, just need a route to market and a deal with KRG. We have waited long enough, c'mon, pull the rabbit out of the hat, please.
Genel Energy share price data is direct from the London Stock Exchange
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