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Genel have had many winds against them in their time.....
Oil Price Collapse
ISIL
Kurdistan Referendum
Taq Taq
Corona Virus.........
Now having said that at any stage the wind could change now for us as mentioned in RTBC.....
When the wind blows in ur favour I still believe £3.50 is definitely achievable....
Time will tell........
Hawkey
But on the other hand Genel and most others shares cod be a real good buying opportunity.....
5% to 10% drops on countless shares.
You pays your money and makes your choice.
3$ production cost,
30$ Break even price
Big Dividend
Net Debt Free
Production increasing......
Hawkey
None of want it but its well over due. Been expected in the market for a long while and the market has been kept alive by Quantitiave Easing....Printing Money....I could never go on forever.
On the brighter said USA have their election and China is determined to spend it was out of temporary problems......
We shall see........
Hawkey
Cant work out if we did well or not today. Rose pretty good and then back down again.
Oil price no great shakes so I guess a couple of % is ok on the day.....
Another day closer to our exciting results and future plans..
Hawkey.
Spot on Boyo....
We have had so many false dawns and bits of bad luck (ISIL, Glut, Referendium, Corona Virus) so if anyone is due for some good fortune...It’s Genel...
And also in all honesty I know I’m a complete tamper but I don’t think we have every had a more experienced and professional board...
Finally we have some potentially comoany changing assets....
Sarta
Qatar Dagh
Bina Bawi
Somalialand
Morocco
New assets....
Hawkey
I would love to see Genel do some Buybacks at this price but they are now in a closed period......
I am expecting a lot of positive news in March but the Cherries will be....
Increased Dividend
Buyback Recommenced....
Nearly There....
Hawkey
Evening Cashless,
Very excited this evening. Cant say I agree with the Boyo stuff but each to their own.
Genel is suffering like all other oilers.
As oil rises so will we. As production rises so will cash flow share price etc etc etc.
All good here...Looking forward to an exciting March...
Hawkey
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.
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.….
I don't think I have every been called a person out on any board every before but sometimes you have to say it as it is.
Leem you hold no shares in this company.
You have posted 49 times on the Genel board in the last month nearly all negative but only 3 times in total on other boards.
Everyone must view the posting of others and comment as they view appropriate but given the facts but for me it is very very clear what your agenda is here.
I truly hope life brings you everything you deserve.
Hawkey
.
Don’t be weak Mr Mayor...Stick to your price...
Good commentary from some as usual..
You pays your money and takes your choice but remember....
The world will need oil for decades.
The oil market and countries generally cannot function with oil this low....
Keep the Faith.....
Hawkey
Hi Jim,
Your right it is becoming another "tobacco" but there is one huge huge difference between tobacco and oil.
Thats reason is the world will need and rely on oil for decades to come. It simply cannot function without oil.....Yet....
Great comments....
Hawkey
I know there is still a lot of noise and concern about payments but the facts are.
Genel have publicly stated that it expects regular payments to continue, as they had since September 2015, and to be fully up to date on all payments by the end of Q1.
Payments relating to invoices for August and September oil production, due in November and December, have been received in January 2020.
Those are the facts.........Business as usual......Nothing to see here......
Hawkey
Total and Tullow....
https://www.proactiveinvestors.co.uk/companies/news/912692/total-expects-up-to-three-new-guyana-wells-in-2020-ceo-rules-out-tullow-oil-tilt-912692.html