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This is all true but this share has been on its a** for months due to low volumes and no interest. Management have to take some responsibility as the holding statement updates and balance sheet security, although highly important, has not done anything for the share price. The latest market dip has accelerated the fall. Oil dropping a few bucks does not really make much difference to Genel- not to the tune of the £200m wiped off mcap over last few months. It is fair to say that all oil shares are getting smashed at moment but that does not excuse the fact that management have many tools in their kit should they wish to use them- as well as several assets that they really should have been making progress on and have not to stop this fall. Most other oil companies are in debt whilst Genel have minimal debt. Bottom line is they have done jack s^^t to stop this rot for many months and as always it is us long term investors who lose out and traders that cash in. That is what pi^^ed me off. To dismiss the drop over the last few months as 'oh well all other oil companies are falling so we will just keep quiet and let the clean balance sheet do the talking' is great- except it is not working. Not when your main mission statement is to return value to shareholders.
My view rightly or wrongly is if this is how the share performs with oil at $80 a barrel and 2 good trading updates what will happen if oil drops or even a bad update? The market in general is having a tiny wobble and look at what it has done to the share price. In the grand scheme of things that is nothing. With so many positives that I cannot even list them here and the share price refusing to do anything but drop every single day there is no hope. We needed and still need management to engage with us and the market with long awaited news and they do not seem to care. The share price is this low and yet nothing from them to support us. I can understand the ups and downs- and over the last 6 months and have ridden these- but this is getting a bit silly now... A £600m market cap for 40,000 bopd and net cash with $300m in the bank. And yet management just want to sit on their hands and let the share price dwindle to nothing? Thats what it feels like. If this comes good those still in here will be rewarded very VERY well but not unless the folk in charge get on and do their job (and earn their ridiculous bonuses) and with this just dropping every single day i am sick of it. All the best one and all and good luck. JF
Not going to gloat because i like this company a lot but the way this has been played over the last 6 months and the terrible input from management to progress anything or bolster the share price has lead to this. This price is a disgrace and they are responsible. If they did their job it could be double where we are now. Glad to be out and will not be back in
Thanks JL and good luck. With fundamentals of this company and all the potential that comes with it the CEO should be sacked imo for allowing the share price to be where it is right now, it is negligence. That's what i think anyway and have voted and left
Ok i'm out. Enough moaning from me. Lost faith in this management and company and never should have bought back in. My mistake and I have taken the loss. Doubt ill look back in as not worth the emotional stress so once again all the best to regulars on here.Such a shame as this should never have performed this badly, it has just lost market confidence
Why can Genel management not see that the market does not give a s**t about free cash flow, DNO doing all the work at Peshkabir and 'opportunities' in the portfolio. Execute something ffs, make an acquisition, give us decent news on gas, taq taq, Tawke, actually earn your salaries and bonuses!
That's me unleashed for this week before i have a mental breakdown with this weeks usual shite and pathetic share price performance or 'shareholder value' in Genel management speak
I wonder what we can do to be honest as shareholders, Do i just sell up (again) and give up despite the potential here since it is obvious this will not go up under any circumstances with current management. Perhaps we need a new guy at the helm who can create value from our assets and for us shareholders. The performance is a complete and utter disgrace. This has fallen from £10 and if you look at our market cap this is such a joke something has to change or this situation will just never improve.
Just by way of illustration in terms of what having a vocal CEO can do to a share. I am not endorsing any ramping here, but Sound Energy is a company with assets worth practically nothing. Next to no money in the bank. No revenue or production, and are about to drill a few holes in Morocco based on 2d seismic. The market cap of said company is £420 million. That is based on nothing but hot air and sentiment. We are £620 million market cap yet look at our fundamentals. Absolute joke
Maybe i am ambitious but just think what would happen to the share price if we had management that had a eureka moment and actually started delivering and engaging with positive news flo to the market. Bina Bawi oil or any gas news which is massively overdue, taq taq results, Tawke update.... jesus just any news on anything so we don't have to wait 3 months for a trading updates and be subjected to this share price manipulation, Give us hope
Ftse & oil up (again) this down (again), we have $80 oil, loads up production, money pouring in, what on gods earth will make this go up? Do we need 20 billion barrels of oil and $180 oil to stop this falling?? For gods sake what is going on with this share enough is enough how is the company incapable of portraying to the market that we have half our market cap in cash, 2 billion in reserves, profit, fcf, production rising. This is a joke ffs
Hi, what does the company produce, oil, gas or water? Why are they producing water as opposed to oil? Why is it down 10% today? do they need funding here? cheers JF
to Genel BOD, you are sat on $300m of cash (half our market cap) as well as a gold mine of oil at $2 a barrel. Just a suggestion- how about delivering some value for your f**cking shareholders rather than awarding yourselves bonus?
This has dropped 8% since the highs yesterday with a $1.5 dollar drop in the price of oil. I remember a time when this did not even track oil. We were at 300p when oil was at $60 I recall and this share shrugged it off. Now it just follows anything down, you name it, any reason it drops. Perhaps BOD need to deliver something other than share awards. This has turned into a dog. Having a break from here before I go nuts. JF
come on, when you have a load of p*ssed off shareholders who have spent the summer watching an oil rally and their investment in an oil company go down the toilet.... is now really the time to be handing out over £400k in free shares to the CEO? I find this a bit irritating- should he not be delivering something deserving of this? Where is my dividend? where is the gas deal promised? where is taq taq results? where is miran and bina bawi oil? Where is an occasional rns to just improve the dismal sentiment that is completely in the gutter right now? We get an update every 3 months and that's it. No wonder PI's are jumping ship, the CEO has had oil prices treble and DNO doing all the pumping to help us get out of this mess. £10 to 50p and now we can barely crack £2 with $80 oil and it's free shares ahoy. If he was delivering we would not be at this stupid price and falling daily. How about helping us Murat rather than lining your pocket, if you were doing the right things we would not be on our a** at this price. Sorry for the rant, and yes i am aware there are market headwinds now but they are not affecting other companies look at regal petroleum look at serica energy, look at even cra**y sound energy going up. If we were delivering we would be going up!!!
I will be the first to apologise if he comes up with the goods but so far in the years i have been in this i am still waiting for a decent bit of material newsflow that the management themselves have achieved. and is worthy of £400k share awards. Tempted to message the company and tell them this.
Hey Monty, think most of us feel the same way, both baffling and a bit concerning. It really wouldn't take much to instill confidence, with some choice intervention/communication from management but it is not their style. It is in their interest to see us rise too but they are conservative, sensible and let the share price run to its own tune. Will have to let the market dictate where we go but others have mentioned why they are happy for us to sit here and languish I have no idea
Been mulling over Genel this weekend since the negative reaction of the last couple of trading updates/results. Think it is just a case of shoring up some of the 'opportunities' that we keep hearing about yet are not really getting actioned. I am probably talking s**te but the gas alone i thought some news would be imminent 2 years ago, last year and this year and still nothing- if anything it seems to just be getting further and further away. Take Bina Bawi oil, in March this seemed like a goer on a decision (to me anyway) and now October and it has not even been signed off. Morocco and Somaliland- same stuff just more of it, nothing material. Taq Taq is still in the mix yet no news. I think we just need a catalyst and hopefully we will be on the move again. Lack of news maybe also weighs on the share price as other than results and trading updates we don't hear much. Pesh is the star at the moment but as most of us know this is run by DNO. Interesting times anyway but clear oil price does not positively impact us anymore (well unless it goes down and then we get hammered) and market moves don't influence us either (only downwards). I am surprised we are sat at this share price as i am sure most of us are. Hopefully next week is better
Thats what i am trying to get across hasiba. If this just stayed at say 250 or what not and acknowledged the good news and hike in oil prices fair enough. Even if the upside is slow i am ok and we tread water i am ok with that too, But this has literally done nothing but drop with a $20 oil rally, good results, good news literally everything you throw at this it drops. Even on market up days and oil up days this drops. We are not even standing still now when most oilers are up. This is severely under performing. Even as a random example a company like SXX that has tons of risk and NO revenue it twice our market cap. We have almost $300m in the bank. Our assets and the entire company is worth £400m? 35-40,000 barrels a day @ $80? Why is this obvious to nobody but us as nobody else is interested
and I just wish Genel management would understand that although they are rightly focused on tidying the balance sheet and have done a good job for us, the current strategy simply is not delivering shareholder value which is supposed to be their primary objective and is their mission statement. They surely cannot be happy with how we are performing either