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http://www.rigzone.com/news/article.asp?a_id=114250&hmpn=1

THIS STOCK QUALIFIES FOR YOUR ISA.


Photo's of Ber Bahir where black is thought to be oil?

http://db.tt/nrmRjZ5D

THE LARGEST PRODUCER IN KURDISTAN, 41000bopd,with 1.4BBO of which 356MBO are P1 &P2.
http://www.investegate.co.uk/genel-energy-plc-%28genl%29/rns/completion-of-acquisition/201301231000021850W/
The operator with 40% interest (GKP 40&)in Ber Bahir.
From a recent RNS released by GKP ,

13th Dec 2011
Ber Bahr-1 Exploration Well

The first exploration well on the Ber Bahr block has drilled to a measured depth of 1,765 metres at the top of the Triassic with hydrocarbons indications observed in the well. Wireline logging is underway which will be followed by running of 9 5/8" casing. The well will then continue drilling to the estimated TD of 2,100 metres.

Also a note from the broker stated that was similar to early Shailhan wells,if so WOW?

Approx 335mtrs to go of which oil plays are part of,so news is close?

http://boards.fool.co.uk/vallares-gkp-12355098.aspx?sort=whole#12355179
http://www.investegate.co.uk/Article.aspx?id=201203080700149278Y
http://www.investegate.co.uk/Article.aspx?id=201203200700206495Z
http://www.investegate.co.uk/Article.aspx?id=201203210705107420Z
http://www.moneyam.com/action/news/showArticle?id=4422402
http://www.moneyam.com/action/news/showArticle?id=4430165
http://www.moneyam.com/action/news/showArticle?id=4431708
http://www.genelenergy.com/admin/resimler/detay_resim/Half_Year_Results_23082012_FINAL.pdf
http://www.investegate.co.uk/genel-energy-plc-%28genl%29/rns/trading-and-operational-update/201301180700068414V/
http://www.investegate.co.uk/genel-energy-plc--genl-/rns/bina-bawi-update/201304041105015272B/
http://www.investegate.co.uk/genel-energy-plc--genl-/rns/chia-surkh-discovery/201304100700069624B/
http://www.investegate.co.uk/genel-energy-plc--genl-/rns/half-yearly-report/201307310700115294K/
http://www.investegate.co.uk/genel-energy-plc--genl-/rns/declaration-of-commerciality-for-miran/201309030700110610N/
http://www.moneyam.com/action/news/showArticle?id=4668698
http://www.investegate.co.uk/genel-energy-plc--genl-/rns/update-re--tawke/201310140708553997Q/
http://www.moneyam.com/action/news/showArticle?id=4739145
http://www.investegate.co.uk/genel-energy-plc--genl-/rns/krg-exercises-back-in-right-to-miran-psc/201402241100037720A/
http://www.investegate.co.uk/genel-energy-plc--genl-/rns/full-year-results/201403060700146386B/
http://www.investegate.co.uk/genel-energy-plc--genl-/rns/agreement-for-development-of-miran-and-bina-bawi/201411130700268995W/
http://www.moneyam.com/action/news/showArticle?id=4962310
HTTp://news.sky.com/story/1419273/ex-bp-boss-hayward-lures-monaghan-to-genel
http://uk.advfn.com/news/UKREG/2015/article/67672862

http://www.proactiveinvestors.co.uk/companies/news/59561/genel-energy-to-benefit-from-kurdistan-turkey-gas-deal-59561.html

http://cache.merchantcantos.com/webcast/static/ec2mc/4000/5275/9523/10962/Lobby/default.htm

StockMarketWire.com
Genel Energy has agreed to acquire a 40% interest in the Adigala block onshore Ethiopia from New Age (African Global Energy) Limited.

The consideration involves a payment in respect of back costs and a contribution to the cost of a 2D seismic acquisition planned before the end of 2013.

http://www.investegate.co.uk/genel-energy-plc--genl-/rns/declaration-of-commerciality-for-miran/201309030700110610N/

Genel Energy Given Neutral Rating at JPMorgan Chase & Co. (GENL)

Posted by admin on Sep 5th, 2013


Genel Energy logoGenel Energy (LON:GENL)‘s stock had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday, Stock Ratings Network reports.

Other equities research analysts have also recently issued reports about the stock. Analysts at Beaufort Securities reiterated a “speculative buy” rating on shares of Genel Energy (LON:GENL) in a research note to investors on Wednesday. Finally, analysts at Liberum Capital raised their price target on shares of Genel Energy (LON:GENL) from GBX 1,000 ($15.49) to GBX 1,150 ($17.82) in a research note to investors on Monday, August 5th. They now have a “buy” rating on the stock.

Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of GBX 1,154 ($17.88).

Shares of Genel Energy (LON:GENL) traded up 1.77% on Wednesday, hitting GBX 946.50. 273,952 shares of the company’s stock traded hands. Genel Energy has a one year low of GBX 700.00 and a one year high of GBX 1026.3199. The stock has a 50-day moving average of GBX 954.8 and a 200-day moving average of GBX 883.9.

Genel Energy plc, formerly Vallares PLC, is an exploration and production company. It is an independent oil producer in the Kurdistan Region of Iraq.


http://www.mideasttime.com/genel-energy-given-neutral-rating-at-jpmorgan-chase-co-genl/55953/

Genel Energy plc ("Genel Energy") notes that DNO International ASA ("DNO"), as operator of the Tawke Field in the Kurdistan Region of Iraq, has today issued the following statement on the field:

"DNO International ASA ("DNO International"), the Norwegian oil and gas company, announced today that it has commenced extensive testing of the Tawke-23 exploration well in the Kurdistan region of Iraq. The well is the second horizontal well drilled by the Company in the Tawke field and has encountered continuous oil shows within a 930 metre horizontal section in the main Cretaceous reservoir. The test program, expected to last up to three weeks, will focus on ten fracture zones with production potential.

The Company's first horizontal well in the field, Tawke-20, tested 8,000 barrels per day from each of ten producing intervals in the Cretaceous reservoir and is currently on stream at an average rate of 25,000 barrels per day.

Also currently drilling in Kurdistan are two other Tawke horizontal development wells, Tawke-21 and Tawke-22."

Cheers Harry,just updated the header.

Gas Sales and Purchase Agreement for Summail Field
Genel Energy plc ("Genel") is pleased to announce that, along with DNO International ASA ("DNO International"), it has signed a Gas Sales and Purchase Agreement with the Kurdistan Regional Government to supply gas from the Summail field in the Dohuk licence in the Kurdistan Region of Iraq. The gas will partially displace diesel currently used to generate electricity in a 500 MW power plant in the city of Dohuk located 40 kilometres from the field.

http://www.moneyam.com/action/news/showArticle?id=4670939

http://vimeo.com/73690334

Wednesday, October 02, 2013 by Ian Lyall

Citi paints a rosy picture of Kurdistan oil and gas as the export pipeline out via Turkey heads towards completion by the end of the year.

It reckons the traditional 20-25% discount applied to the value of companies operating in the semi-autonomous region of Iraq should unwind as this provides a means to monetise discoveries.

It also points out that gas agreements between Turkey and the Kurdistan Regional Government provides a further catalyst, particularly for companies such as Genel (LON:GENL), which is sitting on huge discoveries such as Miran and Bina Bawi.

Meanwhile, farm-ins and buy-outs will become a theme as majors (Exxon, Total et al) and the large independents (Hess and Marathon) start to become the dominant players in an oil province with a high success rate and which is very firmly low-cost.

“We continue to believe that the discount rate that the market ascribes to Kurdistan-focused names is too high,” said analyst Michael Alsford in a note to clients.

“While regional tensions (such as Syria) remain challenging, the strengthening relationship between Kurdistan and Turkey could see sustainable oil exports and the completion of long-term gas supply agreements over the next three to six months.

“We think this should lead to the discount rate ascribed to Kurdistan-focused names narrowing further.

“We also expect larger oil and gas companies will move to gain a greater exposure to the significant resource potential in Kurdistan, which sits in the first quartile of our global cost curve.”

Citi has Genel, Norway’s DNO International and Afren (LON:AFR) on its ‘buy’ list.

Great news,


By Khalid Al-Ansary
Oct. 3 (Bloomberg) -- Kurdistan Regional Government agrees
with Iraq central govt to link under-construction pipeline to
country’s main export link to Turkey, Ali Hussein Ballo, advisor
to KRG natural resources minister, says by phone.
• Kurds, Iraq central govt to hold negotiations to decide exact place where Kurdish pipeline would be hooked to the main Iraqi export pipeline, which runs from Kirkuk to Ceyhan in Turkey
• NOTE: Hussain al-Shahristani, Iraq’s deputy prime minister for energy affairs, said in Sept. 24 interview that central govt may cut oil revenue to Kurds if they bypass central authorities and start operating export pipeline on their own

HTTP://www.ekurd.net/mismas/articles/misc2013/10/state7370.htm?

Oil export pipeline near completion, KRG minister tells meeting at Conservative Party conference

October 3, 2013

MANCHESTER, UK,— A pipeline to export oil from the Kurdistan Region will be operational within a few months, Ashti Hawrami, the Kurdistan Regional Government Minister of Natural Resources, told a meeting at the Conservative Party conference on Wednesday.

'The new oil export pipeline from the Kurdistan Region is almost complete and is expected to be operational by the end of the year,' Dr Hawrami said. He added that he expects exports to reach 1m barrels per day by 2015 and 2m by 2019. ' We are helping the security and continuity of energy supply to the world,' he said.

He added, 'Sharing all oil revenues according to the federal constitution, and the economic independence of Kurdistan are the recipe for the unity of Iraq.'

The minister was speaking at a meeting addressing energy security, hosted by the KRG UK Representation. Other speakers were Nadhim Zahawi MP, Jane Kinninmont of the think tank Chatham House, analyst and consultant Shwan Zulal, and Bayan Sami Abdul Rahman, the KRG's High Representative to the UK. The meeting was chaired by Robert Halfon MP, vice-chairman of the All-Party Parliamentary Group on the Kurdistan Region.

Hawrami told an audience of Conservative Party members, diplomats, journalists, business representatives and analysts that Kurdistan Region's energy riches had been ignored or used against the Kurdish people under previous Iraqi governments. 'With the liberation of Iraq, a new era, an opportunity for sharing power and wealth, opened up in Iraq. The Iraqi constitution facilitates that but so far it hasn't been implemented,' he said.

The minister also noted that the KRG sees Turkey not just as a conduit for Kurdistan's oil and gas to Western markets, but also as a consumer and partner. Hawrami highlighted the role of British companies in the energy sector as well as in Kurdistan's growing economy generally. He encouraged British companies to continue to look at Kurdistan as a destination for their investment. 'We have a good relationship with Britain and there are lots of opportunities for British companies. It's a win-win situation.'

Bayan Sami Abdul Rahman spoke about the KRG's strategy of prioritising tourism, agriculture and industry in order to avoid over-reliance on the energy sector. She said that the Kurds were now a factor in the shaping of the Middle East, both in terms of energy security and political settlements.

Nadhim Zahawi, the first British member of parliament to be of Kurdish origin, told the meeting that groups like the Kurds could no longer be ignored by those wishing to establish peace in the Middle East. Jane Kinninmont said that the KRG would need to diversify its economy. 'I visited Kurdistan this year and spoke to young students who were keen that oil and gas is not wasted and that the economy doesn't over-rely on it. Economic diversification will be a very important aspect of Kurdistan's future,' she said.

Shwan Zulal described the Kurdistan Region as a viable source of energy to Europe and pointed out that the KRG hoped to have a minerals law in place in the near future, opening a new sector of the Kurdish economy.

While at the conference, which was held in Manchester, Minister Hawrami and Ms Abdul Rahman met several British ministers and MPs, including Alistair Burt, the Minister for the Middle East,www.ekurd.net Energy Minister Michael Fallon, Sajid Javid, Minister at the Treasury, and Lord Marland, the British Prime Minister's Trade Envoy who recently led a trade delegation to Kurdistan. They also met the Turkish ambassador in Britain, Ünal Çeviköz, who welcomed them to the Conservative Friends of Turkey reception at the party conference.

The KRG UK Representation also attended the annual conferences of the Labour and Liberal Democrat parties in September. The Representation hosted a discussion on Kurdistan at the Labour Party conference with Ian Lucas, Shadow Middle East Minister, the Labour peer Lord Glasman, Faik Nerwayi, the Iraqi Ambassador to the UK, and Gary Kent, director of the APPG on Kurdistan.

(SIX) The Kurdistan Regional Government, KRG has agreed to connect its pipeline to the existing between Iraq and Turkey, reports Bloomberg. The oil company ShaMaran Petroleum assets in Iraq Kurdistan. Andreas Johansson, tel 031-350 6483 andreas.johansson @ six-group.se SIX News

Genel Energy plc notes that DNO International ASA, as operator of the Tawke Field in the Kurdistan Region of Iraq, has today issued the following statement on the field:

"DNO International ASA, the Norwegian oil and gas company, announced today that it has initiated sales from its second horizontal well in the Tawke field in the Kurdistan region of Iraq following testing at a new record rate of 32,500 barrels of oil per day.

Each of ten independent fracture corridors penetrated by a 930-meter horizontal section in the Cretaceous reservoir interval flowed in excess of 9,000 barrels per day. Tawke-23 was spudded in May 2013 and the cost to drill, complete and test the well was $12 million. The first horizontal well completed in the field last July, Tawke-20, is located six kilometers away and set the previous record production rate for a Tawke well at 25,000 barrels per day. Both wells are subject to wellbore and surface facilities limitations.

Drilling operations are already underway at two additional horizontal wells, Tawke-21 and Tawke-22. Both are slated for completion by year-end 2013."

Genel Energy holds a 25% stake in the Tawke licence. DNO International holds a 55% interest in and operates the Tawke license. The Kurdistan Regional Government holds the remaining 20% interest.

Commenting today, Tony Hayward, CEO of Genel said:
"The outstanding result of the Tawke-23 horizontal well is further evidence of the world-class properties of the Tawke field. We look forward to the results of further horizontal drilling ahead of the significant planned increase in the field's production capacity."

Thanks Harry,added to the header. Still below(£10)the float SP.

Hayward Says Completed Pipeline Turning Point for Kurdistan
By Brian Swint - Oct 25, 2013 10:00 AM GMT

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Tony Hayward, the former BP Plc chief executive officer who now heads Kurdistan’s largest oil producer, said an export pipeline to Turkey is built, marking a turning point for the self-governing region of northern Iraq.

“The Kurdistan Regional Government has completed a 36-inch pipeline,” Hayward, CEO of Genel Energy Plc, said in a telephone interview yesterday. “The line has now been tied in and commissioning is taking place. This is a major inflection point for Kurdistan.”

Kurdistan, whose economy has boomed with oil exploration since the fall of Saddam Hussein in 2003, estimates its reserves at 45 billion barrels, enough to meet U.S. needs for almost seven years. The new pipeline provides unhindered access to international markets for the first time after years of disputes with the government in Baghdad over export revenue.

While Hayward said Genel is already sending about 50,000 barrels of oil a day on trucks to Turkey, where it receives higher prices than in the domestic market, the pipeline will have capacity of about 300,000 barrels a day.

Genel shares reversed earlier losses, to gain as much as 0.8 percent. The stock traded at 973 pence as of 9:53 a.m. in London. DNO International ASA, a Norwegian producer in the region, climbed as much as 1.3 percent to 16.18 kroner in Oslo.

The Kurdistan pipeline joins Iraq’s main export pipeline to Turkey after a Baghdad-controlled metering station, Hayward said. That will give the Kurds full control, bypassing the federal government.
Track Record

The pipeline will become operational by the end of the year, Ashti Hawrami, the KRG minister of natural resources, said on Oct. 3. The KRG signed a deal in April to sell oil and gas directly to Turkey. Turkey also set up a state oil company that has taken stakes in Kurdish oilfields, Hayward said.

“There are always risks, but you have to look at the track record of delivery,” Hayward said. “That gives me confidence that the agreement between Turkey and the Kurdistan region is being followed through.”

The KRG halted crude exports through the government-run link in December amid disputes with the Oil Ministry in Baghdad over revenue from crude sales and payments owed to companies such as DNO and Genel. Hawrami said that the region will export 1 million barrels a day by 2015 and 2 million barrels a day by 2019.

mistyhodag
25 Oct'13 - 12:27 - 322209 of 322243 2 0

Fang - not sure what you are suggesting. Of course they were 'pushed'. They weren't going to be re-elected. My comments are in response to posters suggesting that the supporters of the so called M&G4 are responsible, and that, more importantly, the removal of the two middle eastern representatives of a company who's activities are all in the middle east (to paraphrase a certain poster) is somehow a mistake.
My post attempts to differentiate the roles of 'directors' and any other class of servant to the company (if you see what I mean by the term, 'servant').
I only post because of the the misinformation I perceive, from certain posters.
If I may continue along that line, I am surprised at the vitriol towards Anastasia.
The undoubted problems are not, IMO, her fault. She is an intelligent woman who is doing her best. I do not know exactly where she sits in the organisation, but she seems to have a direct line to TK. That is the problem.
I would find it more sensible to have either the Finance Director, Company Secretary, or someone such as Tony Peart ( Legal and Commercial) with principal responsibility. That said, given the experiences to date, I would also expect much closer involvement/supervision of the company's PR and IR by external Advisors.

StockMarketWire.com
Genel Energy's production guidance range for the year is unchanged at 45,000-55,000 barrels of oil per day.

Net working interest production for the third quarter averaged caround 53,000 bopd - a 10% increase on last year.

Gross Taq Taq (Genel 44% working interest, joint operator) production for the third quarter averaged around 85,000 bopd. Trucked exports via Turkey averaged about 29,000 bopd in the period, with the balance being local sales and deliveries to the Bazian refinery.

Gross Tawke (Genel 25% working interest) production for the third quarter averaged around 61,000 bopd.

Chief executive Tony Hayward said: "Genel continues to make solid progress, with production and revenues growing in line with our prior guidance. We are encouraged by the positive outcome on the testing of the CS-11 well, and the Tawke-23 horizontal well delivered an outstanding result.

"Importantly, the KRI political landscape continues to evolve at pace - the KRI independent oil export pipeline is now complete and being commissioned, and we expect exports by pipeline in the first quarter of 2014. We completed our first domestic gas sales contract in the third quarter and anticipate the finalisation of the gas sales agreement between Turkey and the KRG in the first quarter of 2014. Our high impact African Drilling campaign is on track to commence around year-end with the Cap Juby well offshore Morocco."

http://mobile.businessweek.com/articles/2013-11-14/2014-outlook-kurdistans-oil-ambitions



Kurdistan, the self-governing region of northern Iraq, is poised to realize a gusher in revenue from its oil fields. Estimated reserves of about 45 billion barrels of crude have piqued the interest of several of the world’s largest oil companies. Although getting crude out of the country has until now been a challenge, the opening of a pipeline into Turkey at the start of 2014 will make it significantly easier to get the oil to markets. “We’re looking at multibillion barrels,” says Dougie Youngson, an analyst at VSA Capital in London. “The operators are sitting on huge resources that they want to start commercializing.”

Once it gets going, the pipeline, built and owned by the Kurdistan Regional Government, could result in exports of about 400,000 barrels of oil annually, according to the government. The output will jump to 1 million barrels a year by 2015, and 2 million barrels by 2019, says Ashti Hawrami, Kurdistan’s minister of natural resources. Such estimates have prompted ExxonMobil, Total, Chevron, and Gazprom to sign exploration agreements with the government. If it were a country, Kurdistan would rank 10th among the largest oil-holding sovereigns in the world. It produces about 200,000 barrels per day, with 50,000 of that exported to Turkey by truck. Southern Iraq’s oil fields pump out about 3 million barrels per day.

The substantial reserves will help meet increasing global demand at a time when three of the largest producers—Venezuela, Iran, and Saudi Arabia—are closed to many Western oil companies. “Iraq is the only country in the world where you can put a pipe in the ground and the oil starts flowing,” says Maria van der Hoeven, executive director of the International Energy Agency. “It’s the last easy oil.”

Kurdistan’s oil fields do have their political complications. Exxon and Total—both active in southern Iraq—face increased tensions with the central government in Baghdad given a long-standing dispute between Iraq and the Kurds over control of the northern oil fields and export revenue. In September, Hussain al-Shahristani, Iraq’s deputy prime minister for energy affairs, called Exxon’s intention to explore in the region a “serious error.”

But the upside of easy oil outweighs the risks of upsetting Baghdad, for large and smaller producers alike. “This is transformational for both Kurdistan and Genel,” says Tony Hayward, the former chief executive officer of BP who was appointed CEO of Genel in November 2011. The Turkish company is one of two foreign explorers, along with Norway’s DNO International, operating in Kurdistan and trucking out its exports. The pipeline, Hayward says, will give Kurdistan greater control over its exports and access to more markets. “For us,” he adds, “not only will we get higher realizations, we’ll get much greater volume

Bought this last week. This stock looks good on a 6 month view. Pipeline capacity due on stream shortly should transform b/d sold. Treble capacity possible and at less cost/b?!!!!!

http://www.garda-world.com/events/entry/kurdistan-iraq-oil-gas-conference