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A few barrels a month taken out of circulation. Anyone an idea on how many ? Must be a couple of million.

POO racing along ahead of the possible sanctions on Iran. 12th May could push POO towards $80 that is a long way from the low of POO of $28 many moons ago anyone done any calcs on receivables to Genel for each $1 gain in POO ?

Flying again in Asian trade.

I have seen this comment a few times in the last few days and I say rubbish !!!! why is it when a stock is declining in a steep gradient that's fine but when the opposite takes place we get the statement OOWWW its rising to fast. bullshit, take a look at the miners when they bottomed a couple of years ago been going up in a steep gradient ever since and some close to 10 baggers # so you may laugh but if the gas deal is a good one and Pesh is also progressing extremely well with POO pushing $90-100 there is no reason Genel cannot be heading towards 800-1000p in 2019. Gas is the key from the break towards 1000p

Short week but I still expect POO to continue upwards due to venuzuela and Iran maybe to $80. Knock on effect across oilers Therefore I say 260p

One of the 8 big risks to oil price stability is coming to pass Venezuela oil production falling off a cliff. Platts news flash.

Now that is confidence !!! Speaks volumes

Note we are average of $70 so far this year

To many companies fail due to debt. Yell, AA, Eron, carillion, to name a couple. Genel soon to be in a unique club of being debt free and cash register.

Genel net cash by end of 2019, not many around like that Premier oil �3.3b debt Never mind Somali land and the gas !!!!

field. By summer, Peshkabir should be producing more than 30,000 barrels of oil per day (bopd), more than offsetting any declines from the wider Tawke licence. At Taq Taq, in which Genel owns a 44 per cent working interest, 2018 output should sit at or just below the 13,200bopd seen so far this year. And ahead of any development of the gas fields, Genel may move to develop oil at Miran and Bina Bawi, collectively home to more than 55m barrels on a proven and probable basis. All of this assumes consistent payments from the KRG, although this has not been an issue since late 2015. The issue of outstanding receipts has also been resolved by last year’s (somewhat complicated) receivable settlement agreement with the KRG. In exchange for unpaid crude deliveries worth $425m, the KRG has granted Genel a 4.5 per cent gross overriding royalty on all production from Tawke until August 2022, and a waiver on a separate capacity-building payment. In 2017, this would have bolstered Genel’s entitlement under its production sharing agreement from $179m to $286m. That means free cash flow now exceeds $10m a month, and that Genel should move to a net cash position before 2019 – a major turnaround since the end of 2016, when a $1.2bn impairment led to net debt and gearing surging to $241m and 18 per cent, respectively. IC View It’s worth repeating that Genel's shares carry big risks. For one, Baghdad views the KRG’s oil exports as illegal, a contention that is about to be tested in court. This, and upcoming elections, could generate a lot of noise around the stock, although this should not prevent Genel from getting paid. The shares trade at less than four times Stifel’s forecast operating cash flow for 2018, or less than six times the average FCF expected between 2018 and 2020, all of which assumes $60 oil. Buy. Last IC View: Hold, 162p, 23 Mar 2018

IC Tip: Buy at 215p Tip style Speculative Risk rating High Timescale Medium Term Bull points Growing cash flows Debts falling Low trading multiples Upside from undeveloped assets Bear points Political risk Gas project uncertainty Along with geology, Genel Energy (GENL) likes to see itself as a specialist in autonomous states. A seasoned operator in Iraqi Kurdistan, the company recently started exploring for oil in Somaliland, further burnishing its credentials as a company prepared to tread where others won’t. Consequently, Genel will fall well outside many investors’ comfort zones. Indeed, the oiler’s recent history bears the scars of doing business in such a fraught part of the world, including the inability to get paid by a Kurdistan Regional Government (KRG) preoccupied by fighting ISIS in 2014 and 2015, and a frightening face-off between Iraq and the KRG after a 2017 independence referendum. Against this backdrop, there’s little surprise that a major gas project has been repeatedly delayed, denting sentiment already sapped by reserves downgrades and falling output at the once-stellar Taq Taq field. But a strong recent run in the group’s shares this year is not only due to higher crude prices. As we recently wrote, operational issues have abated, and both cash flows and the balance sheet continue to improve. Despite this, based on broker Stifel's forecasts, the shares trade at a mere six times this year's free cash flow (FCF), dropping to only five times by 2020. As well as cash-producing assets, there is considerable potential from gas assets in Genel's Miran and Bina Bawi fields, which are estimated to contain 14.8 trillion cubic feet (tcf) of raw gas on a contingent (2C) basis. That resource, 100 per cent-owned by Genel, has long been a source of huge optimism, only partly reflected by Stifel’s $297m (£201m) risked net present value, equivalent to 79p a share (263p for anyone gung-ho enough to ignore the considerable execution risk). Sitting just 300km from the Turkish border, the fields could – if developed – both satisfy domestic gas demand and provide Turkey with a far cheaper source of energy than the gas it currently buys from Russia. Yet despite a defined resource and guaranteed buyers, Genel needs financing or a farm-in partner with deep pockets – a prospect that is “still seems some way off�, in the eyes of Canaccord Genuity. The possibility that Russia’s Rosneft might extend a recent pipeline deal with the KRG and step into the mix could prove to be a saving grace, or a complication. Either way, we agree with analysts at RBC Capital Markets that Genel’s current business case is all about oil production. Most important is Tawke, in which Genel has a 25 per cent stake and where operator DNO has recently signalled its intention to fast-track output at the Peshkabir field. By summer, Peshka

Good well round view by IC Most striking actually stating not payment issues since 2015. First time risk of payments from the KRG put in a positive light/ bullish view. I suggest you read it.

Looking perky again.

GKP are a one trick pony, Genel has Gas fields and somaliland costing resource which currently eats into Genel rev per employee. So you can not compare

Under reasonable volume, seeing 1.5m each day now. Today smells of people taking a punt ahead of some news if more heady gains tomorrow it smells of a gas leak !!!!

250 on the nose.

Mine H Bought ASOS under 20p sold around 30p. Had over 100,000. Had EEL and CCH both delisted Rose GKP upto 450p sold down from 350p all out at 275p

I have seen a lot of medium to large buys recently and again today 25k buys flying in. Cheap as chips and very bright future. Choo Choo !!!

What will DNO say tomorrow ?