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Genel Energy Share Chat (GENL)



Share Price: 692.00Bid: 691.50Ask: 692.00Change: -19.50 (-2.74%)Faller - Genel Energy
Spread: 0.50Spread as %: 0.07%Open: 705.00High: 715.50Low: 691.00Yesterday’s Close: 711.50


Share Discussion for Genel Energy (GENL)


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chris47
Posts: 373
Observation
Opinion:Hold
Price:697.00
2 to 4 weeks wait now
Mon 15:14
This morning San Leon and Serica announced that the Sid Moussa well, SM-1 had reached TD and had ‘encountered oil during drilling operations’. Genel then announced that whilst testing was indeed taking place it might be ‘premature’ to read too much into the news. The reasons for the different disclosures are because San Leon and Serica are Aim listed and Genel is not, the latter would probably have preferred not to have put anything out at all. However, Genel as operator are spending north of $20m on the testing so it must feel that it is at least worth the while doing it. Testing this will take 2-4 weeks and with a Capital Markets Day scheduled for the 13th of November, Genel has the perfect target for what might indeed be very good news. All eyes have been on offshore Morocco for some time now and with a couple of dusters so far success here would be a boost for all the players in the area. After the announcements the Genel price fell, San Leon’s remained unchanged whilst Serica’s rose 11%, try explaining that away…
 
G1lo
Posts: 211
Off Topic
Opinion:No Opinion
Price:708.50
Cautious
Mon 09:25
At least it was not a "dry P& A" RNS so it is a good news. Genel s cautious approach is probably wise in this business and by reading their RNS it is almost like they would have rather saying nothing until they tested the well.
"Genel notes annoucements by its partners..."

Any idea on testing length of time?

RNS Number : 6901U

20 October 2014

Genel Energy plc

Update on Sidi Moussa-1 well offshore Morocco

Genel Energy ("Genel") notes today's announcements by its partners San Leon Energy and Serica Energy regarding the Sidi Moussa-1 well offshore Morocco, operated by Genel with a 60% working interest.

Genel confirms the information contained in the operational updates issued by its partners. It is premature at this stage of operations and ahead of the forthcoming testing of the well to make any definitive technical interpretation.

Genel shall update the market on completion of operations"
RobbyB
Posts: 938
Off Topic
Opinion:No Opinion
Price:714.00
Xrated
Mon 07:23
Well, we got the answer this morning! Fingers crossed for testing. The Genel RNS is quite cautious.
linksdean
Posts: 1,839
Off Topic
Opinion:No Opinion
Price:714.00
View Thread (2)
RE: robbyb
Sun 23:14
licence area is huge.. numerous prospects found on 2.3d..defo dwarf kurdis finds................if a hit!
xrated
Posts: 51
Observation
Opinion:No Opinion
Price:714.00
View Thread (2)
robbyb
Sun 20:41
we are over 80 days drilling, it took 72 days for Cairn Energy to hit Td, Rigs dont hang around if they find nothing.So its my hunch if they found something ,then they would be waiting for testing gear, I hope that is the case,
If we have a find, its only the beginning as the Licensed area is extremly big, it wouldl dwarf the kurdish find.
RobbyB
Posts: 938
Off Topic
Opinion:No Opinion
Price:714.00
View Thread (3)
RE: Game changer
Sun 11:41
Yes, I saw xrated's post as well and wondered. Rigzone still gives the status of the rig as 'drilling' but says that it hasn't been updated since Sep. Does he mean why pay for a Moroccan offshore rig when they are not drilling elsewhere? Or is it news of the Nour prospect?
G1lo
Posts: 211
Off Topic
Opinion:No Opinion
Price:714.00
View Thread (3)
RE: Game changer
Sun 09:43
Hi xrated. If your are aware that the rig is not currently drilling and you are indeed correct then you might know a bit more about what s really going on onboard the rig? Would you care to share please. Most appreciated. G1
xrated
Posts: 51
Answer
Opinion:No Opinion
Price:714.00
View Thread (3)
Game changer
Sun 00:18
Tony
Busy man, a history , intelligent, most likely very arrogant, pleasant,
It's very difficult to operate 2 large companies that are so diverse. Indeed one has to delegate and hope that girl/ guy are on the money.
This weekend is a difficult one especially because ! I presume he will ask the question why one is paying for a rig off shore Morocco Especially when one has stopped drilling....
Indeed its a testing time for all of us !!!
Especially for the little minnow San Leon Energy????
What's up.?????
volcano
Posts: 2,282
Off Topic
Opinion:No Opinion
Price:707.00
GENL
17 Oct '14
happy to take some money today ,monday is another day .
tradernor
Posts: 688
Off Topic
Opinion:No Opinion
Price:693.00
Middle East and Kurdistan
15 Oct '14
Analysis from Seeking Alpha with many Oil producers from Africa, Kurdistan, Middle East and Latin America (Gulfsands Petroleum, Gulf Keystone, Oryx Petroleum etc.)

http://seekingalpha.com/article/2562065-petroamerica-oil-welcome-to-the-cheapest-oil-producer-worldwide-part-2



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