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Pin to quick picksGenel Energy Share News (GENL)

Share Price Information for Genel Energy (GENL)

London Stock Exchange
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Share Price: 92.10
Bid: 90.70
Ask: 91.80
Change: -0.80 (-0.86%)
Spread: 1.10 (1.213%)
Open: 92.30
High: 92.50
Low: 92.10
Prev. Close: 92.90
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Genel might starting drilling in Somaliland in 2019 -CEO

Thu, 22nd Mar 2018 08:38

LONDON, March 22 (Reuters) - Kurdistan-focused Genel Energymight start drilling in Somaliland next year, ChiefExecutive Murat Ozgul said on Thursday, as the group reported2017 results broadly in line with expectations.

"For the long term, I really like (our) Somalilandexploration assets. It's giving me a sense of Kurdistan 15 yearsago," Ozgul said in a phone interview. "In 2019 we may be(starting) the drilling activities."

Chief Financial Officer Esa Ikaheimonen said Genel willfocus spending money from its $162 million cash pile on itsexisting assets in Kurdistan but added: "You might see usfinding opportunities... somewhere outside Kurdistan."

(Reporting by Shadia Nasralla and Ron Bousso; editing by JasonNeely)

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