Member Info for ocelot

not really qualified to comment on the merits of their 2 acquisitions, but welcome the loosening of Genel's purse strings and the show of intent to grow their oil production.

Genel Energy plc ('Genel' or 'the Company') is pleased to announce that the
Company has reached agreement to acquire stakes in the Chevron operated
Sarta and Qara Dagh blocks, in the Kurdistan Region of Iraq.

Genel will acquire 30% equity in the Sarta licence by paying a 50% share of
ongoing field development costs until a specific production target is
reached, together with a success fee payable on achievement of a production
milestone. Chevron will retain a 50% interest in the Sarta licence and the
Kurdistan Regional Government will hold the remaining 20%. Genel's estimate
of its total spend up to end-2020 is c.$60 million.

Drilling began on the first appraisal well, Sarta-3, in Q4 2017. The well
was successfully completed and tested during the second quarter of 2018.
Both that and the Sarta-2 well individually tested at rates of c.7,500 bopd.
The first phase of development is expected to see these wells placed on
production.

Genel will acquire 40% equity of the Qara Dagh appraisal licence and become
the operator through a carry arrangement. Chevron will retain 40% of the
equity, with the KRG holding the remaining 20%. The Qara Dagh-2 well is set
to be drilled in 2020. The Qara Dagh-1 well, completed in 201 1, tested oil
in two zones from the Shiranish formation.

Closing is subject to approval from the Kurdistan Regional Government.

It was only very recently that the range of Friday Club forecasts was almost 100p - 35p now covers the whole lot, with 7 falling in the 213 - 225 range.

Broadland 190
Rangor 202
Whitehat 206
Foodforthought 213
withoutt 215
STOCKBUSTER 218
Jandialbi 219
Hasiba 220
JustinD 222
ocelot 225

... Why all the optimism? Analysts and traders credit progress in U.S.-China trade talks, a more dovish stance on interest-rate hikes from the Federal Reserve and signs that OPEC-led production cuts are starting to take a bite out of supplies.

https://www.bloomberg.com/news/articles/2019-01-18/oil-hasn-t-started-a-year-this-hot-since-the-turn-of-the-century?srnd=premium-europe

Broadland 190
Rangor 202
Whitehat 206
Foodforthought 213
withoutt 215
Hasiba 220
ocelot 225

I'll rein in my pretensions, from 235 to 225:

withoutt 215
ocelot 225

PS: do you mean glib statements when you write "glyph" statements?

... no glyph statements just factual knowledge of why the drop is taking place.
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You're asking for the impossible, cockernhoe.

With the best will in the world, all people can do is express their opinion, not provide "factual knowledge".

NY closed, should be relatively quiet in London.

It was Newchurch's brother who was the real character :-)

He or she was so gloomy, it was quite entertaining.

Speaking of rays of sunshine, whatever happened to Orsoncart?

but Genel has hardly moved, in very mediocre volume of 504k shares.

No problem, Boyobach, we're all in this together.

Think the full year results could be interesting.

TH's last set of accounts were very conservative, providing against just about everything.

Ijust wonder if there won't be room to claw back some of those provisions.

"Field development plans ('FDP') for both oil and gas at Bina Bawi were submitted in H2 2018":

it's the Bina Bawi oil which could have an important near-term impact, because it's 100% Genel's.

Thank you for this, Hawkey.

2018 net production: 33,690 bopd

· Combined net production from the Tawke and Taq Taq PSCs during 2019 is expected to be close to Q4 2018 levels

ie. 36,920 bopd, an increase of 3,230 bopd or 9.6%

?

£15 would make Glencore a £200bn company.