I am a great fan of the Kurdish nation. They keep level headed in a crisis and their attitude towards business and modernization sets them apart from the Sunni and Shia tribes to the West and South.
This is a risky time, but the fact that the SP has weakened but not tanked shows that many investors believe that the Kurds will find a way. Good luck to them. The cards are certainly in play just now.
Mosel is only 50 miles from ERBIL (Kurdistan) where Genel are extracting their oil. My friend has ljust returned from the region and told me that the Kurds are well prepared for an attack. Iraq is on the verge of disintegrating , investors need to keep a close watch on the situation.
It is worth considering the effect on Genel on the read through from the DNO statement because clearly the market isn’t. With their other bits and pieces the production is getting significantly worthwhile and one must at some stage assume that oil is actually being sold for real money, not something all analysts seem to want to hear. Genel is still very cheap on my numbers and even if you discount for the political risk I get a number not far short of twice the current share price. My spies tell me that a couple of the big boys have done the numbers on Genel and virtually have the offer documents drawn up, so far it has been waiting for politics, as that risk diminishes the chance of a bid increases significantly, Genel is not a stock to be short of at the moment. - See more at: http://www.malcysblog.com/#sthash.EZDCHcRb.dpuf
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