Member Info for jc_123

So, a not so new CEO, an oil ‘discovery’ in Somaliland and a load of cash in the bank. Special div incoming?

The upcoming investor presentation will be interesting, especially the Q&A session…

Also, I don’t think Somaliland is really priced in to SP either…

Let’s hope so. They’ve only got themselves to blame. No CEO and silly levels of unutilized cash in the bank. They’ve also been sitting on these blocks for years…

They are deadly serious. It was described in one of the investor presentations earlier in the year as their "jewel in the crown". This link tells you everything you need to know, apart from their total lack on comms...
https://genelenergy.com/wp-content/uploads/2020/08/genel-somaliland-aow-presentation.pdf

With a a resource estimate of 5 BBO prospective you'd have thought they'd be screaming about this from the rooftops, but oh no, no update since the farm out RNS last December!!!!

I recommend that everyone looks at mick2020's link and reads all the comments !!!

I wish IR would update the world on what our plan is for Somaliland - all I know is they are saying drill end of 2023! Could be an absolute monster!

Nightpusher - I've also been holding out for £2 and kick myself for not ditching the lot when it almost got there in March '21 (191.60) and April '22 (194.60). That said, I think anyone buying in at these levels will make money. Fingers crossed that KRG keep paying, OP starts to climb again once Biden's SPR releases stop in October and they finally announce a new CEO before the investor presentation in Nov. Problem is that if the SP gets anywhere £2 in 2023, Somaliland starts to come into view on the horizon, and then the question on whether to sell or hold becomes more difficult...

GTFC - your figures don't include Dunrobin...

Anyone reckon Chevron might be the latest major to reduce their exposure in Iraq by selling us their share of Sarta?

This seems to happen every time it goes ex-div, but it does recover...

Total have just sold their 18% interest in Sarsang field to ShaMaran for $155M. This 18% equates to 3.5k barrels per day. $155M is 40% of our mcap - we are hugely undervalued.

https://www.zawya.com/en/markets/equities/totalenergies-sells-18-stake-kurdistan-oil-field-for-155mln-to1km0l2

Yes, I worry that the interim appointment becomes permanent...

Would it be wishful thinking that an announcement on this could be due any day now? Its been 3 months since BH officially resigned and 4 months since the AGM when he was voted out...

Just received an email for a Genel presentation on 3rd Nov. The last one was good, but obviously it all went out the window with BH’s ousting. I wonder who’s going to be presenting?? New CEO??
https://www.investormeetcompany.com/

Suspect it’s to do with USD/GBP

Indeed. Would have expired by now…

BH is supposed to be staying on in his ‘advisory role’ until 1st Sept, so maybe they might surprise us all with an announcement soon, but I’m not holding my breath!

We’ll let’s hope a new CEO is on his or her way with the necessary vision…