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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

RNS Number : 8198W
Genel Energy PLC
06 February 2012



Genel Energy plc



Capital Markets Day



Genel Energy plc will be hosting a Capital Markets Day presentation in London on the afternoon of Thursday 23 February 2012.



Tony Hayward, Chief Executive Officer of Genel Energy will deliver a presentation on Group strategy and set out milestones for 2012. There will also be operational, pipeline and exploration updates following the first 90 days since the Genel Energy listing. Other members of the Group's senior management will also be present.



A live webcast will be available on our website (www.genelenergy.com) on the day, and will be available for download with the presentation from the day shortly afterwards.

Photobucket
http://thesharehub.com/?p=5453

Not long to wait for BB's news,lets hopeit's postive?

..Questor share tip: Hayward's Genel is a speculative buy

By Garry White | Telegraph – 1 hour 47 minutes ago



Turkish oil group Genel Enerji, which was privately owned by businessmen Mehmet Emin Karamehmet and Mehmet Sepil, reversed into Vallares last year.

Vallares was a cash shell floated by financier Nathaniel Rothschild, Julian Metherell, an ex-head of Goldman Sachs (NYSE: GS - news) 's UK's investment-banking division, and Tony Hayward, the former chief executive of BP. The aim was to buy global oil assets. Vallares is the sister company of Vallar (Frankfurt: A1C189 - news) , now known as Bumi, which was set up to invest in the mining sector. Each of the "founders" of Vallares was awarded generous founder share packages worth millions of pounds.

Genel is the largest oil producer in the semiautonomous Kurdish region of Iraq. There is still no agreement on an Oil Law that will allow revenue-sharing with the Iraqi central authorities. This means that only limited oil can be exported into higher-priced foreign markets. Genel sells most of its oil in Kurdistan.

CORPORATE GOVERNANCE

Foreign companies with large stakes owned by individuals readily prompt corporate governance concerns when they come to London.

Genel has addressed this by getting together the "Manchester City" of boards - with the majority of its directors independent and most of them City heavyweights.

These independent directors include grandees such as independent chairman Rodney Chase, who has served on the boards of Petrofac (EUREX: P2FF.EX - news) and BP; senior non-exec Jim Leng, the ex-chairman of Corus; George Rose, the former finance director of BAE Systems (LSE: BA.L - news) , and Sir Graham Hearne, former chairman of Enterprise Oil and current chairman of Catlin Group (LSE: CGL.L - news) .

Also, the founders of Genel, Mr Karamehmet and Mr Sepil, have together had their voting rights limited to less than 30pc. Their shares are locked in for two years and Genel has first right of refusal to buy the shares on their sale, so it can dispose of the stake in an orderly manner.

DIVERSIFICATION IS THE NEXT STEP

The shares have moved lower partly because more than half of the company's market capitalisation - $1.9bn (£1.2bn) - remains in cash. As any saver knows, cash is currently a lowyielding asset.

Last week, management made it clear that the Kurdish operations will be self-financing. Cash generated there will be used for the company's exploration programme in the region, which aims to book more oil reserves. Increasing reserves will, in turn, increase the value of the Kurdish assets - and the valuation of Genel. Wells drilled in the region have an exceptional 70pc success rate.

Genel's oilfields, which include Taq Taq and Tawke, should generate operating profits of $250m to $300m this year, management says.

Genel therefore does not plan to spend any of its $1.9bn cash pile in Kurdistan. It argued that valuations are too high and instead it is looking towards the wider Middle East and Africa for assets .

WHY A SPECULATIVE BUY?

There is no doubt that Genel's management and assets are high-quality.

Mr Hayward is a geologist who knows his "rocks" and Mr Sepil is a deal maker with lots of contacts in the key Middle Eastern regions.

Mr Hayward said on Thursday that, although the Middle East region was in flux, new relationships were being developed and the Turkish origins of the business could help in contact building. Genel's headquarters is in Ankara.

However, Kurdistan still has unresolved issues, especially the Oil Law, and its neighbours, Syria and Iran, are international pariah states. The Kurds' relationship with Turkey can also be strained.

There is no guarantee that management can find the right asset at the right price, which will continue to be a drag on the share price.

However, everything is in place for the company to start heading towards its ambition of being a major global independent oil company.

..

http://www.investegate.co.uk/Article.aspx?id=201203010700484447Y

Genel Energy plc

1 March 2012



Update on Chia Surkh



On 16 January 2012, Genel Energy plc ("Genel Energy") announced that it had entered into transactions with Forbes & Manhattan (Kurdistan) Inc. (a subsidiary of Longford Energy Inc.) ("F&M") and Petoil Petroleum to increase Genel Energy's interest in the Chia Surkh block in the Kurdistan Region of Iraq from 20 per cent to 80 per cent and to become Operator of that block (the "Transactions").



The announcement confirmed that the Transactions are conditional on the receipt of various consents, approvals and assurances, including from the Kurdistan Regional Government. The application before the Kurdistan Regional Government Oil and Gas Council remains pending, and all parties continue to work with the Government to secure final approval for the Transactions.



Genel Energy will update the market in due course when it has greater visibility on timing for completion of the Transactions.

Genel Energy plc

5 March 2012





Genel Energy plc



Drilling Update - Miran West-3 well



Genel Energy plc ("Genel Energy") notes that Heritage Oil Plc ("Heritage"), as operator of the Miran Block in the Kurdistan Region of Iraq, has today issued the following press release:



"Heritage has completed well testing and wireline log evaluation of the Lower Cretaceous reservoir in the Miran West-3 well and is currently at a depth of 2,910 metres.



Testing in the Lower Cretaceous formation resulted in no measurable flow of hydrocarbons to surface due to the lack of an extensive connected fracture network at this location. The results from detailed wireline log interpretation, observations whilst drilling and gas recovered at surface confirm that the Lower Cretaceous reservoir formation is gas bearing. Detailed work is being undertaken on the recently processed 3D seismic and offset well data to establish the areas of effective reservoir for this formation.



Below the Lower Cretaceous reservoir the well encountered a high pressure interval as well as a loss of circulation which resulted in the need to sidetrack the well. This interval has now successfully been drilled and the well is currently at a depth of 2,910 metres and being logged.



Further drilling will appraise the Jurassic reservoir intervals which were discovered by the Miran West-2 well. A number of tests are planned and drilling is expected to be completed within the next couple of months.



A second rig to drill the Miran East-1 well is on location and expected to commence drilling shortly."



Tony Hayward, chief executive of Genel Energy said:

"The Miran 3 well has confirmed the presence of gas in place at this location on the Miran structure - integration of the well results and the recently completed 3D seismic survey will provide a better estimate of the potential recoverable gas reserves and assist in development planning."

specifically - Vallares, the investment vehicle run by the former BP chief exec-utive Tony Hayward, bought Genel Energy, the Kurdish-focused explorer, in September, while the AIMlisted Gulf Keystone’s exploration success in the region is set to catapult it into the FTSE 100. But the HSBC analysts warned that political pitfalls lay ahead, as politicians in Baghdad have declared oil explorers’ contracts in Kurdish Iraq illegal, because they were signed in the absence of a formal oil law

8 March 2012



Genel Energy plc



Commencement of drilling operations on Miran East-1 exploration well



Genel Energy plc ("Genel Energy") notes that Heritage Oil Plc, as operator of the Miran Block in the Kurdistan Region of Iraq, has today issued the following press release:



"Drilling of the Miran East-1 exploration well has commenced with an estimated target depth of c.4,000 metres. This is the first well to be drilled on the highly prospective eastern structure, which has an area of approximately 130 square kilometres. The well is targeting exploration potential within the Cretaceous and Jurassic reservoir intervals of the eastern structure, contiguous with the hydrocarbon bearing Miran West structure. The well design utilises recently acquired 3D seismic data and the enhanced understanding of the structural configuration within the Miran Field that this has provided.

Drilling of Miran East-1 is expected to take approximately seven months with multiple intervals to be evaluated and tested as the well is drilled."

Tony Hayward, chief executive of Genel Energy said:

"The Miran East-1 exploration well is being drilled on a separate structure from the existing Miran discovery and has the potential to add significantly to our resources. The spudding represents the latest well in the extensive exploration programme that we are undertaking over the next 12 months in the Kurdistan Region of Iraq, aimed at adding some 700 million barrels to our resource base."

RNS Number : 1969Z

Genel Energy PLC

12 March 2012

Genel Energy plc

13 March 2012

Genel Energy plc

Update on analyst meeting for Preliminary Results

As previously announced Genel Energy plc will be announcing its preliminary results for the period ending 31 December 2011 on Tuesday 20 March 2012.

Please note that a conference call for analysts and investors will be held at 11am on the day, replacing the meeting at the offices of Goldman Sachs announced on 22 December.

http://www.investegate.co.uk/Article.aspx?id=201203200700206495Z

http://dalesmann.com/1waving-from-advfn/

http://newsworthy.yolasite.com/genel-in-pipeline-talks-to-boost-kurdish-output.php

Successful completion and testing of Tawke-16 well



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 press release:



"DNO announced today that its just-completed Tawke-16 well in the Kurdistan Region of Iraq flowed at a cumulative rate in excess of 25,000 barrels per day of 26-27º API gravity oil from multiple, independently tested zones. The Company expects to connect the well to existing pipeline and processing facilities by mid-April, boosting the Tawke field's deliverability.



The Tawke-16 well was designed to probe and appraise the undrilled northern flank of the Tawke field. It reached total depth of 2,369 metres and encountered over 350 metres of gross continuous oil column in the Cretaceous interval of the Tawke field. The well was spud in late December 2011 and the cost to drill, complete and test the well was under $7 million.



DNO International will continue to actively develop the Tawke field, with the goal of establishing

100,000 barrels per day of sustainable deliverability before year end. Tawke-16 is the first of four wells targeting the Cretaceous interval that the Company plans to drill in 2012, while a fifth, Tawke Deep, will also penetrate the deeper Jurassic and Triassic intervals in the field later this year."



Bijan Mossavar-Rahmani, DNO's Executive Chairman said:

"The Tawke-16 test exhibited exceptional flow characteristics and confirmed the reservoir quality and productivity of the northern extension of the Tawke field. In fact, based on these test results, Tawke-16 likely is the most prolific well drilled so far in this field by the Company."



Tony Hayward, chief executive of Genel Energy said:



"This is a very encouraging result. The successful completion of testing at Tawke-16 has further substantiated the quality of the Tawke field and the potential resource upside that we believe to exist. Genel Energy remains committed to increasing the size and the scale of our existing business in the Kurdistan Region and this result, along with the extensive exploration programme of 7 high impact wells over the next 18 months, is a good step to achieving that aim."

Quite a poor performer this stock, but wonder if it may be worth watching once the Iraq/Kurd issue is resolved.

Been watching this, think I might jump onboard right about now.

Thats me out for a small gain, would have liked to have stayed in longer however future margins not so nice on this one!

From the GKP thread

niceonecyril - 15 Jul 2012 21:31 - 3361 of 3368
Chevron apparently confirmed (almost - next week?) in Kurdistan - with Total apparently to follow with Western Zagros (as per Noble Trader?)

Sunday times article - on subscription - copy below - interesting times ahead???

81339.ece

http://www.thesundaytimes.co.uk/sto/business/Industry/article1081339.ece

Oil giant’s Kurdish deal defies Iraq

Danny Fortson Published: 15 July 2012
Recommend (0) Comment (0) Print
CHEVRON is to become the latest oil giant to thumb its nose at Baghdad and buy into Kurdistan, the semi-autonomous region of Iraq locked in a protracted battle with the central government over oil rights.

The American company is in advanced talks to buy the rights to two exploration zones from Reliance Industries, the Indian conglomerate controlled by billionaire Mukesh Ambani.

The deal, thought to be worth at least $200m, could be announced this week.

It will be a boost for Tony Hayward, the former BP boss whose London-listed group, Genel Energy, is already the largest producer in the region.

Kurdistan has been at loggerheads with Baghdad since 2004, when it began inviting western groups in to look for oil. Baghdad said the exploration deals were illegal and threatened to blacklist any firm that dealt with the Kurds.

Companies found vast fields, however, drawing the attention of the world’s biggest producers. Exxon Mobil shocked Baghdad last year when it signed an agreement for half a dozen Kurdistan exploration blocks.

It is understood that Total, the French giant, is also in talks to buy a stake in fields owned by Western Zagros, a small independent listed in Canada. It is understood that at least part of the share would come from the Kurdish government, which has a large equity holding.

The rush of industry giants into the sector comes amid growing frustration with the bureaucracy and political in-fighting that has hampered development of Iraq’s giant fields in the south.

Genel does not plan to tie its future entirely to the region. The company is scouring Africa for exploration opportunities and plans to unveil a portfolio of new assets within the next couple of months.

StockMarketWire.com
Genel Energy's acquisition of a 23% interest in the Bina Bawi exploration licence has been approved by the Kurdistan Regional Government Oil and Gas Council.

Genel Energy is making the acquisition through the purchase of all of the share capital of A&T Petroleum Company, a subsidiary of Petoil Petroleum and Petroleum Products International Exploration and Production Inc.

Genel Energy chief executive Tony Hayward said: "We are pleased that the transaction has now completed, allowing us to acquire an interest in this high-quality acreage in an area immediately adjacent to Taq Taq, one of our major established fields.

"Genel Energy remains focused on deepening its interest in the Kurdistan Region and we look forward to the exploration and appraisal programme planned for Bina Bawi for the rest of this year and next."

http://www.moneyam.com/action/news/showArticle?id=4422402


RNS Number : 3847J
Genel Energy PLC
06 August 2012

Genel Energy plc

6 August 2012


Genel Energy plc


Genel to acquire an additional interest in the Bina Bawi exploration block


Genel Energy plc ("Genel Energy" or the "Company") announces that it has agreed to acquire an additional 21 per cent interest in the Bina Bawi exploration block in the Kurdistan Region of Iraq from Hawler Energy Ltd (the "Transaction") for $240 million, to be paid from the Company's existing cash resources.


The Transaction is in addition to the Company's acquisition of an initial 23 per cent interest in the Bina Bawi block, which completed on 3 August 2012 (together the "Acquisitions").


The Bina Bawi exploration block is in the centre of the Kurdistan Region of Iraq and covers an area of 240 square km. It is 50 km to the east of Erbil and is the adjacent block to Genel Energy's producing oil field Taq Taq. To date, 2 of the 3 exploration wells drilled on the block have encountered significant hydrocarbons. The most recent well, Bina Bawi-3, encountered a gross hydrocarbon column of more than 800 metres in the Jurassic zone and two Jurassic reservoir intervals tested separately achieved an aggregate flow rate of more than 4,000 barrels a day of light, 44 to 47-degree API oil. A further gross hydrocarbon column, estimated at over 1,000 metres, in the Triassic zone of Bina Bawi-3, remains untested but confirmed the gas find made in the first well in 2007. The overall results of Bina Bawi-3 continue to be reviewed, including the evaluation of deeper potential targets in the Triassic reservoirs. An extended well test will commence towards the end of the year. There are two further appraisal wells planned on the block this year. The Bina Bawi discovery is estimated to contain contingent resources of between 500 million to 1 billion boe.



Upon completion of the Acquisitions, Genel Energy will hold a 44 per cent. working interest in the PSC, OMV (Operator) will hold a 36 per cent. working interest and the KRG will retain a 20 per cent. working interest which is carried by the contractors pro rata to their PSC entitlements.


The Transaction is conditional on the receipt of approval from the Kurdistan Regional Government.


Commenting on the transaction, Tony Hayward, Chief Executive Officer of Genel, said:


"This acquisition gives us a material interest in a third major oil and gas development (alongside Taq Taq and Tawke) and reinforces Genel's leading position in the Kurdistan oil and gas province. It is consistent with our strategy of continuing to build our Kurdistan business through selective acquisitions and our ongoing exploration drilling programme."


For further information, please contact:

Genel Energy plc

Julian Metherell

Natalie Fortescue



+ 44 20 7659 5100

M: Communications

Patrick d'Ancona

Andrew Benbow


+44 20 7920 2340

I'm in today @680p.

Are you looking to hold long term mitzy, or just a quick punt? Am planning to have a stake in GENL in preference to others who intend to develop Kurdistan, but no spare cash atm.

Yes Harry will hold lt.

Worth between 1200p and 1500p a share imo.