We would love to hear your thoughts about our site and services, please take our survey here.
I would of thought they would of deferred them 6.2m freebies after what's happened in the last 8 months.
If they get back payments and pipeline open with 60kbopd + then yes . But at moment we are miles from all that happening.
So a 2.9% dilution to shareholders ....
Where is the RNS regarding local sales increase 🤔 or is it a secret so the market can manipulate us further .
I agree the pipeline won't open this year!!
We are selling 40kbopd + at the moment so OK with generating revenue untill everything is sorted once and for all .
I'm happy to wait for a concrete outcome not a rushed mess up one ..
Using the Dividend Discount Model, Petra Diamonds fair value estimate is UK£0.40.
So that's 25p then
Things are going from bad to worse in kurdistan.
Let's see if the gas companies stop production if no payments are received ASAP.
Electricity being cut off will definitely cause civil unrest in the region .
Rudaw
ERBIL, Kurdistan Region - Dana Gas has been financially affected by the months-long halt in Kurdistan Region oil exports as the cash-strapped government is behind in its payments, the managing director said on Thursday. The company is working to increase gas production in order to boost electricity generation.
Majid Jafar, CEO of Crescent Petroleum and managing director of its affiliate Dana Gas, told Rudaw’s Diyar Kurda that the Kurdistan Regional Government (KRG) has not been making regular payments since its oil exports were stopped by Turkey more than half a year ago.
“Physically speaking, we have not been affected by the pipeline closure because we are supplying gas for the power stations in the Kurdistan Region… But there have been some delays in the payments. We have been getting some payments,” he said.
Ankara stopped exports of Kurdistan Region’s oil through its Ceyhan pipeline in March after the International Chamber of Commerce arbitration court ruled that Turkey had breached a 1973 pipeline agreement with Iraq when it permitted Erbil to export oil without authorization from Baghdad.
The halt in exports has cost the KRG billions of dollars.
The KRG is, however, earning some money from its gas. It “has been receiving revenue from the gas that we provide because there is electricity being sold also to the federal government,” said Jafar.
He noted that they are working with the Kurdish government to “make sure there is a schedule for paying the past payments and to make sure that going forward we will receive the payment on time for the gas.”
Dana Gas produces 500 million standard cubic feet of gas per day in the Region. In January last year, the UAE-based company reported that natural gas production in their operations in the Kurdistan Region had jumped by 50% since 2018.
Last year, Jafar told Rudaw that they planned to double gas production. Speaking on Thursday, he said that receiving payments on time is very important for any production growth or future projects.
“The regular payments are of course very important for the lenders, for the investors, for the board of companies and so on,” he said.
He refused to say how much the KRG owes Dana Gas, but said there are “significant unpaid receivables.”
Expectations are that increased gas production would boost electricity generation in a region where customers have to rely on private, diesel-fueled generators to supplement power from the national grid that cannot keep up with demand
Only going one way here and that's not a pleasant situation to be in as a shareholder here !!
I did say 35p being the low but as their debt swells to a a controlled situation I will say 0p is on the cards in the next 18months .
How many times has this company been restructured now??
Wipe out for shareholders on the cards here again !! Their track record is consistent I'll give them that.
Shocking company run by incompetent BOD ..
Good luck anyone holding this rubbish ???
Get out while you have can ..
Genel BOD very confident with that big purchase!
News must be close
On 18 October 2023, Ümit Tolga Bilgin notified the Company that on 17 October 2023, Bilgin Grup Doğalgaz A.Ş. purchased 2,976,747 Ordinary Shares in Genel Energy plc at a price of £0.83 per share. Ümit Tolga Bilgin is Vice-Chairman of Bilgin Grup Doğalgaz A.Ş., and is a Non-Executive Director of Genel Energy plc.
On 18 October 2023, Yetik K. Mert notified the Company that on 17 October 2023, he purchased 107,000 Ordinary Shares in Genel Energy plc at a price of £0.8577 per share. Yetik K. Mert is an Independent Non-Executive Director of Genel Energy plc
Lots of good news being posted today ..
But Mr Market doesn't believe a word of it hence why we are in the red already today.
To many false dawns and no one is falling for it anymore which is a good thing because it stop the manipulation.
Only a concrete RNS will boost the Share price oneway or the other..
Anymore shorts loading up ???
Would be nice to get an update on local sales from our BOD !!
But I won't hold my breath . They should be exceeding 40kbopd now surely or even maxed out at 40kbopd??
Come on BOD throw us a bone or are you waiting for the pipeline to open 🤔 .
We don't want any buy out after all this rubbish is sorted as we will be sold for peanuts🥜!!
We need to get 110kbopd before any sensible offer hits the table and at least 2b P2 reserves with FDP for 250kbopd then sell .
For how much God knows ???
Nope !!
40s inbound quicker than I thought??
Bottom is around 35p you were told here first but then again I did say this over 6 months ago ..
The BOD don't care about you here .
And where have all them big stones disappeared to more to the question..
All gains gone from yesterday and probably a bit more !!
117p finish on the cards today.
So being out the weekend is obviously the order of the day ..
Shorts winning again but then again they do 99.99% of the time
Will shorts increase again before the weekend!!
I will give it them laying a £4.6m bet on gkp going down.
Let's see how today plays out and would you want in or out over the weekend 🤔.
Personally I'm in because the next RNS could be the one gkp has needed for the last 15 years ..
Place your bets everyone. We will finish above 132p or back to 110s ??.
The Market will tell us if we are going to get some news over the weekend by the share price today.
The truth of the matter here is one word HATRED between Iraq and kurdistan !!
It's so deep and ingrained over hundreds of years .
Are iraq happy to lose $1b a month so kurdistan suffer Absolutely they are .
They don't care about 400kbopd through SOMO as they have to pay kurdistan their budget agreement money's.
If iraq could nuke kurdistan tomorrow and it went away forever they wouldn't hesitate in pressing that button ..
I'm still saying gkp carry selling locally at 40kbopd and getting money instantly payed until another route to market is found ..
Rant over ..