Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Strange day when Genel rise least of all the oil shares I watch.
I think that Shale company is the first of many to fold....
No net debt and cheap production should see us to a much higher price in time....We just need patience....lots and lots....
Patience is a Superpower as a wise man once said to me......
Hawkey
So all quiet today again.
Saw the government briefing earlier...very worrying for some, especially cranky old asmatics like me.
Oil price not to shabby and we seem to be in a slight period of calm. Surely must be hitting hell out of Shale....
I assume plans are in place for when the Corona virus hit Kurdistan and in turn Genels fields.
Be good to get some positive AGM news especially the much fabled Bina Bawi....
Then when ever anybody ever drives or travels again we could be in business.....
I also expect Genel to announce a new Buy back at the AGM....
We shall see.
With 2 completely separate team looking after the old and the new.....They better have some good bloody news.
Hawkey
So we have a lot of intrigue here....
Just one simple question... For what sort of reason would he need the bank to vote on his (Focus) behalf. Why not just Focus voting....
Also for what sort of reasons generally do you need to do that.
And finally do we think this is connected (must be to a degree) to his daughter on the board...
Very interesting times and a decent start today....,,
Hawkey
Yep, I think there is a long way to go with this virus yet and more pain.
Genel feels like a good place to be at present due to production cost and debt etc.....
Time will tell......Many got spooked last week and sold at the bottom.
Just heard a great quote from a guy called Pete Matthews....
"Stocks and shares are the only things we rush to buy the they are marked up and rush to return when they are in the sale"
If you were buying a car would you say "Can you let me know when the price goes up please so I can buy one"
We are strange animals.......
Hawkey
Heres to a day...good or bad......
Hawkey
Isbank has exercised its right to voting ordinary shares relating to shares held by Focus Investments. This 6.8% relates to the totality of shares pledged by Focus to Isbank.
Focus is the vehicle through which Karamehmet holds his shares, and the only vehicle through which he does. Focus held c.21% prior to today’s exercising.
REASONS TO BE CHEERFUL
ISIL defeated
Opec and Russia expected to cut production.
Iranian barrels off the market.
Libya barrels off the market
New settled government established in Kurdistan.
Rosneft has lent KRG up to 3$ billion, building several Gas pipelines
DANA Gas selling Egypt, going all in KRG.
Rosneft involved in massive exploration & development projects.
GKP, Gazprom, Shamaran, Rosneft & Chineese investing billions $ in Kurdistan
New Chairman with massive worldwide experience
New Non-executive director former UK Energy Secretary.
New board members will literally billions of dollars behind them.
New board member control at least 36% of company.
Separate new team in place for exploration assets
Free Cash over 150$ million in 2019
Very high number of shares owned by major institutions.
Major former owner back onboard with 6% holding
Implied free cash flow yield of over 20%
Market cap approx 50% of net assets.
Genel confirms regular payments continue (since Sept 2015)
Nil net Debt and over 100$ million of Net cash, rising each month.
Over 6% dividend.
Genel confirm progressive dividend (ie likely to grow)
Genel confirms in the market for corporate action in or out of KRG.
At 40$ a barrel Genel can sustain dividend
At 30$ a barrel Genel breaks even……Wow
Operating cost of 3$ a barrel. Some of lowest in world.
Production from Tawke PSC over 120k per day.
1 Peshkabir well producing 11k BOPD
60k Peshkabir Oil pipeline completed.
Taq Taq gross production over 13.5k BOPD.
Taq Taq production to increase year on year.
Taq Taq up to 6 wells being drilled this year.
2.5 billion BOE unrisked Gas resources.
Bina Bawi & Miran updated CPR showing huge increase in resource +27% + 78%.
Bina Bawi oil now major focus, easy win and production within 6 months of drilling.
Bina Bawi Intensive discussions under way, could land at any time.
Bina Bawi barrels of oil worth more than even Peshkabir to Genel
Bina Field development plan and commercial proposal submitted to KRG
Sarta quick ramp up to 20k gross. First oil expected July this year.
Sarta production could replace of ALL current field production.
Qara Dagh huge potential could be half a billion resource
Qara Dagh due to spud next quarter
Somaliland 2D Seismic completed. Analysis completed. Partner discussions underway.
Genel increase stake in SL10B13 block to 100%
Somaliland massive basin akin to Yemin, unexplored.
Somaliland potentially 2 Billion plus barrels of Oil.
Somailand huge international investment ongoing.
Morocco farmin process started 2020. Big field. Huge potential.….
Can’t find a holding anywhere...
Any ideas Ocelot??!
So just a thought... Someone who used to own the company and who sold for a lot of money bows buys back in on the cheap. I wonder what he knows....
Surely on a normal day 10% up...???
Hawkey