from the 07/08 HI results RNS4 Sep 2018 14:10
Phase two, to be executed simultaneously to phase one, would be the drilling
of up to four new wells, targeting a production plateau of 10-15,000 bopd,
achievable a year from the beginning of work. Phase three would then
constitute additional infill wells as required.
Oil production from Bina Bawi would benefit from cost-recovery of the
significant capital outlay already made by Genel at Bina Bawi, and has the
potential to add material cash flow. Discussions are ongoing with the
Ministry of Natural Resources in order to expedite the development of Bina
Bawi oil.
Because of Genel's 100%-ownership of Bina Bawi, the potential oil production from the field is very significant for Genel.
Any news about the ongoing discussions with the MNR could inject some excitement into the share price.