Malcy’s blog Today21 Mar 2019 10:07
Genel Energy
I wrote about Genel on the hoof yesterday and was surprised to see that selling had pushed the price down. Genel is in an extremely strong position which can be seen by the enormous cash build in the last 18 months. This has enabled the company to become properly cash positive, make the Chevron deal which brings substantial potential for the future, be in discussions with the KRG about Bina Bawi gas, oil and importantly midstream and initiated a maiden dividend policy. At 215p and this sort of outlook it is without doubt an obvious buy especially as it will soon carry a yield into the bargain.