Member Info for Oily1990

75k buy just filled

Fill your boots as this will move sharply higher………results and we could we be over £1

Should see this moving higher……its great to buy at this level

Perhaps, but operations in Oman will be ramping up soon too - bargain at current levels with the news out there 225M in the bank too

Any deal will see up to $75m heading to Genel. Any form of recovery even is their was a 25% haircut would be a massive boost

Looks as though we have seen a complete gap fill to the sp move to 82p and reached a pivot point where the share price could go back up higher. Iraq-Türkiye Pipeline reopening has been successful and DNO is in discussions about agreeing payment assurances for past arrears and future exports in order fully participate and add barrels to the export syndicate. These could be ratified any day now

There is a reference to Tullow and Total on Twitter…….obviously needs to be substantiated, but worth looking into

Buys are into Tullow this morning

A host of buys at 10.18…….this is gonna gap up. This story if true will cause a severe squeeze in the price. We were at 22p on a similar news piece before any official announcement was made - that was 4/5 months ago

Having looked up the Uganda transaction and Total paid $500m in 2020 a further $75m in 2022 on receipt of FID and in the market update RNS is advises:

“Tullow will continue to have exposure to the Tilenga Project through additional cash consideration which may be received in the form of contingent payments depending on the average annual Brent price once production commences”

Brent now in the blue - this should start creeping higher. Would be good to break through that 10.5p we stopped at yesterday

Looks as though we have tested support and are about to break back higher……..Brent should also get into the blue today

Just to clarify I was the one that reported on here just before the news broke about the agreement being made having seen a report on Twitter and sharing. That was at like 4:10pm and before the market had captured the news. We saw the SP rise from 69 to 81p. These discussions are ongoing and in terms of timing we will wait, but I am confident and update lands or breaks very shortly. I’m not making unsubstantiated comments, merely scanning the news across multiple platforms to come to a reasoned view and sharing. My view is buy, but each shareholder needs to make their own assessment

Iraqi Ministry of Oil: 'We are currently working on a written and guaranteed contract... that is intended to guarantee the rights and financial entitlements [of IOCs] there is actually news of this reported and this has been ongoing for a couple of weeks. This will be reviewed and I would imagine that DNO as the largest producer are actively engaged in discussions. I think that Jim and I are both correct is that makes sense. I’d imagine an update will be forthcoming before we receive our trading update next month

@Jim yes GKP down, as is the whole sector, however Genl and DNO are set to joint the other 8 producers having negotiated the historic payments outstanding claim. GENL seems by far the best buy and 70p is perhaps 50% true value. Details regarding Oman will probably be coming during the trading update in Nov

Channel 8 news are reporting that DNO/ Genl are in discussions with the KRG about finalising the required back payments in order for them to join the collective……..this is great news!!!!

DNO and Genel have not fully re-entered the new Baghdad–Erbil export framework, leaving Kurdistan’s flows below potential. Both firms continue producing but are diverting much of their crude into the local market rather than nominating volumes to SOMO for pipeline export. Output is being throttled (some wells left under-utilized, drilling programs paused, and operational ramp-ups on hold) a deliberate tactic to preserve leverage. Their arrears, estimated near a billion dollars, remain unpaid, and the new contract terms cap returns at a flat per-barrel service fee, far below the profit-oil model they previously operated under. With the export agreement only running on 30-day renewals through year-end, DNO and Genel are signaling they won’t sink fresh capital or restore plateau volumes until arrears and terms are resolved. The net effect is that Ceyhan flows are restarting at ~180-190 kbpd instead of approaching the 400+ kbpd capacity, highlighting that without these two operators’ full participation, northern exports will remain constrained and the political settlement fragile.

Hearing that DNO had a meeting with KRG and there could well be an update from them that obviously impacts Genel. Maybe there’s a workable agreement in place

I hope everyone used the opportunity to add if they were looking for an entry

It will be climbing as people with deep pockets are accumulating - everything suggests that we are in for a strong afternoon.

Channel 8 looks like it has the inside scoop