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Think the MM,s moving it up as they know there will be chunks of cash hitting the banks tomorrow, which will allow more Pi,s to take advantage of the cheap stock, Blue today and tomorrow, imo
Inexplicable rise
Haha bizarre. Gkp up 12% which is great, but Directors bought tonnes of our shares and on 4-5% movement. I’m sure things we’ll catch up during the day.
Https://www.france24.com/en/live-news/20230511-iraq-to-resume-kurdish-oil-exports-to-turkey-saturday-statement
"Baghdad (AFP) – Iraq's oil minister said Thursday that crude exports from the autonomous Kurdistan region to Turkey would resume on Saturday, hours after a deal was finalised following years of dispute."
"On Thursday the Kurdish authorities said in a statement that "the Kurdistan regional government and the federal authorities have reached a (final) deal on the resumption of oil exports".
Hours later, Iraqi Oil Minister Hayan Abdel Ghani said crude exports would resume from Saturday.
Baghdad's State Oil Marketing Organization (SOMO) "informed the Turkish company Botas of the resumption of export operations... as of Saturday May 13", Abdel Ghani said in a statement."
BOOM. Is everybody asleep here?
Hopefully all this pipeline closure is a wake up call (and long overdue) to Genel management that all the eggs in one basket never will work - they are getting boring keep spouting about m&a opportunities now and never achieving any
I thought that 0 boepd would seriously affect the investment thesis. I also believed that instead of a dividend the company shall prepare for 1) longer than expected production halt, and 2) grabbing any M&A opportunity that presents to increase production in the short term. The last penny in the balance will help to overcome both situations. BTW, deals usually take many weeks or months to close, they may be urging to close a deal now, but the process will not be over until all signatures are on the paper.
I think reducing the dividend would have been the end of Genel as an investment option.
In all dealings with KRG Genel have to be cautious what they say publicly.
Hopefully, the possibility of re-opening pipeline is closer / more certain than they can say so they think dividend is safe. Plus they’ve had a load of cash for an acquisition and haven’t made one - so perhaps nothing out there at fair price currently.
It's difficult for me to understand that under the current export and production halt, the company still proposes a dividend. In addition to this, they will begin the drilling in Somaliland, which will draw some cash. I expected more caution from management as the end of this situation is yet unknown.
Not very cheery.
Can’t move the stuff we pump out of existing wells so slowing that down drastically.
Starting up new locations going very slowly.
Still no sign of a producing acquisition outside of KRG.
Not much for the market to like today.
or they think this price is cheap and i can get some for a nice divi in future years
It could be they take the company back into private hand or take control of the board ....
Either they know oil is definitely coming back on tap or perhaps a bid on the table in the new few weeks.
Have been. Uikding up a decent holding in Genel
Since April 23 they have acquired over 600K shares in Genel Energy
Have they a game plan ???
Follow the buyer , imo
Well there it is RNS,d!!!!!! Director buying up a very large Wedge of shares, 300K , thats the one i saw the other day,
GLA LTH Some serious money collecting cheap shares
If I remember correctly it was a Buy of £356,000,
Not the kind of money a Private investor would be putting in unless a very wealthy one that is
I think they will be well rewarded
Hi Opulentia, I wasn't able to keep a track on trades yesterday. Please share the nature of the trade that so caught your imagination. Many thanks.
shame they never got to develop the miran gas field - could have been up and running by now
WOW!!! That’s a huge confident Purchase ,
Another Director Purchase ? , or Institution??
Seems very large for a Private Investor
Well LoveL, my idea is admittedly at the limit of speculative ideas but if an all share offer was made GKP investors would be in a much more safely diversified situation.
Buying anything in Kurdistan at the moment would be crazy. We don't know yet what will happen with our existing operations.
Also moving away from Iraq should be at the top of our priorities.
The rethoric has changed a bit at the company but we still are a one trick pony. We had Morrocco and Somaliland for about 10 years and nothing has happened yet. Lots of talk,"transformational ... etc" but nothing in practice. It looks like something might happen now but I prefer to keep my knickers on.
All the drilling that has been done by Genel has always failed. I am quite an optimistic person but we have to carful not to put on the rose tinted glasses ... still a very risky investment with significant potential downside.
DYOR and good luck all ...
i was thinking also we have some Turkish management if I remember correctly? or certainly large shareholders
cash is a good point.
swallowing up gkp would be interesting - cant see it though
I have a possible answer, Genel have a colossally strong balance sheet, given the premise that oil will flow but not imminently ie months then Genel may have the power (they certainly have the bottle) to gobble up weaker players ie GKP. That is one possible conclusion from the premise.
Cash.
We're pretty much trading at cash in bank levels.
that Genel isnt tanking like GKP nor apparently panicking with this pipe closure - i know we have more storage, is there any other reason?