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Highlights
• Zero lost time incidents in 2022, with over three million hours now worked since the last incident.
If the highlights of a full year result starts with the above item, this means that there is nothing to mention within the year..
It looks that Genel will be sponsoring KRG for a long time with this weak management. Cash flow will go down and Somaliland is risk factor if the operation in that that region seems not effective within 6 months Genel could think its new problem about CASH. So, they need KRG, they need to fix the relation with them immediately..
payment dates in 2022: totaly 8 payments in 2022.
31Jan/11 March/11 April/06 June/27 July/02 Sep/18Oct/01Dec;
the longest period was between 11 Apr - 06 June which less than 2 months, so can we say that we can receive it max. next week..
All possibility has been priced Bina Bawi,Miran assets,Qara Dagh is failed, Sarta is not accepted, KRI and its payments always effect negatively, poor management has been priced so nothing left for negative trend. So, now its right time to buy, sit and wait for santa
As known that GENEL hasn't good relation with KRI recently, they will have arbitration with KRI. So, neither DNO(operator at Tawke) nor KRI want GENEL to be part of this big asset. So, GKP could be a good partner for DNO and of course for KRI.
I don't think money could go to Genel. At the GENEL RNS, there is only one asset which operates by GENEL is Sarta and got usd 3,7m for sarta from their usd48m received from KRI. This means that GENEL has only one asset operating all over the world is Sarta and they got only 3,7m from this asset. It is very low comparing the total receved usd48m. This means that Genel operation cost is very high to many offices, too many department heads etc.
Why it is decreased comparing the last month payment? from 60m to 48m. The point is that payment of Sarta where Genel is operator only at this field which is only 3,7m which is the small pieces at the cake. Why GENEL have such big organization London Office, new Istanbul office, KRI offices, expats, department's heads only for this 3,7/48 ??