Genel has spent about $1.4 billion on acquisitions and plans to continue to grow, Sepil said. While crude futures have slumped about 44 percent this year to trade below $55 in New York, the London-based explorer produces oil at a cost of $5 a barrel, Sepil said. “Even if the price falls to $20 a barrel, we are making a lot of profit.”
What a big fraud! The whole market just stinks really.
Rotten and fickle.
'Risk appetite has magically returned - yum, yum. Xmas bonuses and all that.
''Many oil-linked stocks rose even as crude prices fell, suggesting some investors believe the sector has bottomed out. Dow member Chevron rose 2.8 percent, Anadarko Petroleum advanced 3.1 percent and oil-services company Weatherford International (NYSE: WFT - news) gained 2.8 percent.''
Pity we cannot persuade Directors to start buying.....
'Pursuant to the notification obligations under the Disclosure and Transparency Rule 3.1.4R, the Company announces that, on 15 December 2014, Mehmet Sepil, through his interest in Elysion Energy Holding B.V., sold 1,400,000 voting ordinary shares in the Company at £6.10 per share.'
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