Genel Energy Regulatory News (GENL)

26 April 2018

Genel Energy plc

Update on Tawke PSC

Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has today issued the following update on licence activity.

Development of the Peshkabir field has been fast-tracked, with three new wells. The recently completed Peshkabir-4 well will shortly undergo production testing and the Peshkabir-5 well is drilling ahead at 2,250 meters. The Peshkabir-6 well was spudded as a development well last week and will also explore the field's deeper Triassic formation.

On the Tawke licence, 15,000 bopd of production from two Peshkabir wells is comingled with 90,000 bopd from the Tawke field for export through Turkey. A new Tawke Cretaceous well was brought onstream earlier this month at more than 5,000 bopd. Additional Tawke development wells will be drilled in 2018 following mobilisation of a fourth rig.

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Notes to editors:

Genel Energy is an independent oil and gas exploration and production company listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company, with headquarters in London and offices in Ankara and Erbil, is one of the largest London-listed independent oil producers, and is the largest holder of reserves and resources in the Kurdistan Region of Iraq. Through its Miran and Bina Bawi fields, the Company is positioned to be a cornerstone provider of KRI gas to Turkey under the KRI-Turkey Gas Sales Agreement. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.