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Company must be confident of future cash generation if they can go out and buy back bonds
Jim and Gobshi
Strangely enough Sky Arts on Freesat 147 has been rerunning this series for ages and seems to go back to the beginning when they have shown all episodes.They are a little bit dated but fun to have on your recorder if you wish to kill half an hour before bed.As to Genel I have no idea what is going on,probably nothing but would love to know if they are trucking any oil out of KRG.Perhaps silence is better than speculation,bUt good luck to all long term players like myself.
I did watch TOTU - always finished with a scantily clad lady - doubt that’ll happen in Iraq.
Doubt TOTU would have worked with burkas and hijabs.
Jim, did you never watch tales of the unexpected?
Again, where’s any evidence of pipeline reopening? Or even informed speculation by parties that might actually have an involvement?
Who expects? Why do they expect?
Being dragged up on the shirt tails of GKP , with the resumption of the oil pipe line expected in the coming weeks, we could see Genel back over £1 in no time, imo
A few more this morning for a nice return in 2024
I’d have thought if you were selling you’d have done it months ago as soon as pipeline shut down.
Selling now, at a lower price, just as things might be progressing seems weird.
Some bigguns there.
Disguised buy or dump?
What’s your source for pipeline opening soon?
Or just a hopeful guess?
Expect a surge in Sp, were finally moving up with GKP
No official news, but according to Arab Weekly, ITP not expected to reopen before October, when Erdogan will likely visit Baghdad. Erdogan “wants an agreement to be signed” but “so far the concrete steps expected by Iraq have not yet been taken” .
Step 1 is a halt to the US litigation, step 2 et al all tough issues ...
Stifel NAV is 147, HOLD, but meaningless without ITP open...
GKP up, Genel up, DNO up - yet no official news!
Blind optimism or something more concrete?
GKP are concerned. Genel next ?
Little shake and next move up…..there will be some orders filling
Buys picking up now…..
News is out…..sp will blow today
Should see £1.10 + in my opinion
It looks like we are gonna get that jump today when it hits the mainstream
Is the pipeline opening ?
Sky news Arabia reported an agreement has been reached
Something afoot - trades have picked up last few hours and now SP up 6% against a falling market since 1100 ish.
Someone has the news before us mortals.
Ministers meeting this week , could see a way forward to re-opening the pipe line,
Genel Silly Cheap, imo
Looks like we have hit the bottom, could be a great recovery play at 77p ???,
added a few more just in case, get my average down a TAD
Im surprised the Sp hasnt started its journey back to £1 , with locl oil barons taking as much as they can ATM
IT WONT LAST !!! The KRG /IRAQ/Turkey will soon put a stop to this cheap oil stream
An update from Genel Energy PLC (LSE:GENL, OTC:GEGYY)'s partner, DNO, indicates growing confidence in domestic Kurdistan sales, even though the revenue contributions remain "modest", said investment bank Stifel in a note to clients.
Operations at the Tawke field have been partially resumed with output averaging about 40,000 barrels of oil per day (bopd).
Half of this production is delivered to the Kurdistan Regional Government (KRG) as its entitlement, with the remainder being sold to local trading companies. Notably, the Peshkabir field remains closed.
The selling prices for the oil have been discounted, averaging just over half of what they were before the closure, assumed to be around $30 per barrel.
Payments are now being made upfront and directly to the operator. Stifel estimates that this arrangement results in monthly cash flows net to Genel of approximately $5 million, which should cover the second half of 2023's capital expenditures and operational expenses at Tawke.
For Genel to match Stifel's net asset value (NAV) projections or its previous cash profile, the export pipeline needs to reopen or domestic sales must expand significantly.
The bank's NAV for Genel stands at 143p per share - that's a significant premium to the current 78p price. Still, Stifel is currently neutral on the stock with a 'hold' recommendation.