The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
We should have a very good 2024, here at Genel , lots of upside to come in my opinion ,
Court Case
Farm out
Pipe line opening back up
were still making money and covering overheads
Happy New Year everyone
Hi TSSZ,
I have to disagree, there is very little sign of PI's selling GKP & buying Genel.
The rest I'd agree with it certainly has a lot more upside than GKP in the short term especially with the court case just 5 or 6 weeks away.
They are banking money all the time & getting back some of the overdue payments as well, while GKP isn't doing much better than break even right now.
Yet the clamour is to own GKP right now. Whether that's to do with short's closing out or what I'm not sure, but there is definitely a buyer of GKP out there soaking up all the sells, how much stock they want is a different question.
Genel stock seems to be in pretty short supply & the price would pop if there were a few more buyer around.
GLA
LOTM
I think PI’s are selling GKP to buy GENL
GENL has more upside than GKP at this price
GENL has better control of their money and production and would be a better company for a take over bid currently from the last rns
I think we're going to see 80p this afternoon
GLA
LOTM
I’m not a share buyback fan unless they are likely to be value accretive. There seems nothing to lose here. Buy the shares. Or lose the capital anyway if hope drains away.
Hi PhilMin,
They could possibly restore the $25M dividend that they intend to payout annually.
However given the current share price it would be much wiser to spend such a sum on a share buy-back at the current ridiculous share price. As there not likely to get such a chance again in the future.
The sooner the better might be the right phrase for it given the court case starts in Feb & a result there would change the whole complexion of things.
GLA
LOTM
Would the income lead to dividends being paid sometime soon ?
Interesting to note the price of the outstanding Genel Bonds is on the increase.
I wonder if the company is spending those profits buying in the bonds on market & thus reducing there future interest payments.
I guess we'll find out when they give us the yearly results.
LOTM
Smart move would be to sell GKP and buy GENL, more news incoming soon in GENL
Very surprised that DNO didn't give a further update on what's happening with regard to the overdue amounts.
They managed to get back $8M in October (which meant around $2.9M to Genel)
Never the less the bank balance is growing & its obvious they are the ones pushing GKP out of the market due to the better quality of the oil which is easier for the refineries to process.
GLA
LOTM
Nice update, during closure were still making a nice tidy sum into the bank balance, just over $10 Million profit in over 3 - months, with low expenditure costs we can sit this closure out for quite a while yet,
Strong Buy at current levels , imo
Can some explain please?Today 11:42
There are so many bloomin articles on this I’m completely confused.
First we were asking for market price to be paid
Then government said they wanted profit share
Now Baghdad is taking of paying only $8 a barrel. Why would we sign up to that?
So if oil price rose to $80 a barrel from 70s now we wouldn’t gain anything?
GENL SP is going to Booooooooom up soon and oil price is going to go much higher
Watch this space
DYOR
Statement in HY results
“ Given the $170 million impact so far that the lack of payments and revenue is expected to have on our liquidity at year-end, and with no clear line of sight on when either pipeline exports or payments will restart, we have taken the decision to suspend the dividend. We remain committed to building a business with predictable, repeatable, and diversified cash flows, which would ultimately support the re-establishment of a dividend programme.”
Can someone remind what the dividend situation is for genel at the moment?
I'm assuming it's paused for the time being. Is that correct?
Yesterday was the market being stupid.
At current prices I find GENL more interesting than GKP. With GENL you get 3 catalysts :
- they not only mostly cover costs, but they are recovering arrears. they may exceed our expectations there
- the arbitration case in 2 months
- and of course that old pipeline thing
I don't even care about Somalia or Morocco at this point. It's priced at 0!
Here's a thought for everyone .........
Was the GKP November production number down because they were squeezed out at the time by DNO/Genel upping there production substantially from mid November ?
And the slight rise in December is the market starting to adjust to more supply at cheap prices compared to where they would be on international markets ?
If so then Genel's share price shouldn't have reacted as it did yesterday.
GLA
LOTM
Seems like it was the GKP update (which was not bad either). I bought 3000 more GENL at 66.6p, missed the intraday low...
What was so bad today?
Just the transfer RNS?
Anyone know?
Hi LOTM, I decided to stay in it’s brought my avg down, happy to wait and see what next week brings (if anything!).
I've been out for a while, but am now back in at just over 70p as I got bored with watching a legacy chunk of LLOY going round and round. Seems promising but GENL will always find a way to postpone the upside, but I am sure it is there somewhere.
Hi Morbox,
I did the same (bought more this morning at a not very good price compared to 69)
So I've sold them this afternoon for a tiny profit, as there are games a foot .......
2 of the last 3 days trading have ended with a big up & a big crash, so don't want to get caught out.
I've put a limit order in, in case it goes to 69p again.
Good luck with what you choose to do with your's
LOTM
And there it goes! oh well...
I added this morning, probably drop even more now!