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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

Sunday Times article 24.11.2013 Highlights why this should be a very successful share to hold over the next 12 months, with the prospect of a special dividend returning surplus cash to shareholders as well as the prospect of a much higher sp in the meantime.

Credit Suisse reiterates outperform on Genel Energy, target raised from 1296p to 1430p.

Genel Energy upgraded by Credit Suisse after 'irreversible progress' in Kurdistan

By Jamie Ashcroft December 04 2013, 11:05am

Credit Suisse reckons the semi-autonomous region has now made “irreversible progress” towards achieving large scale exports via TurkeyCredit Suisse reckons the semi-autonomous region has now made “irreversible progress” towards achieving large scale exports via Turkey

Genel Energy (LON:GENL) has been upgraded by City broker Credit Suisse which now believes the Iraqi Kurdistan oil play is lower risk.

Analyst Thomas Adolff reckons the semi-autonomous region has now made “irreversible progress” towards achieving large scale exports via Turkey, and as one of Kurdistan’s few producers Genel is set to benefit.

“Progress has been very impressive since 2011 and we treat recent events - the signing of the energy agreement with Turkey last week - as irreversible progress,” he said in a note.

“We believe Genel could be the bright-spot again in the UK E&P space in 2014.”

Credit Suisse today lifted its price target on Genel to £14.30 per share from £12.96 (current price: £10.61)

Looking ahead to what must now be achieved in the coming months, Adolff explains: “having finalised the energy agreements, the next step is to meet with the Government of Iraq (GOI) to reach a revenue-sharing agreement.

“Exports, however, can flow before and contractors amongst others will have the first call on revenue (ie, under this format, they should get paid as exports begin).

“The KRG, meanwhile, agreed not to draw on its share of revenue from these exports after contractor entitlements, tariffs and payments to the UN Compensation fund widely reported to be held in an escrow account in Turkey, under the control of the KRG, until it reaches an agreement with the GOI.

“As revenue is accumulated, there will be an incentive to reach an agreement.”

iii-cheers

From the following re Matt Badiali - Http://www.thedailycrux.com/Post/43849/must-see-a-sneak-peek-at-stansberry-associates-most-exclusive-event

As we discussed in the October 31 Digest, Matt recently returned from an exploratory trip to Iraq. He was looking at small-cap oil companies in the Kurdistan region. As we wrote...

Matt is bullish on [Kurdistan] because by the end of this year, a pipeline will be completed and operating that sends Iraqi Kurdistan oil to Turkey. It will transport 300,000 barrels a day. By 2014, Matt says this pipeline will deliver 1 million barrels of Kurdistan oil to Turkey... And by 2019, there will be a second pipeline – together, they'll transport 2 million barrels of oil daily.

To put those numbers in perspective, Oklahoma produces 300,000 barrels daily. By 2015, Kurdistan's oil exports will be equal to the oil production of Alaska, California, and Nevada combined. By 2019, its exports will be equal to 27% of U.S. daily production.

Kurdistan isn't a big place. It's just 74,000 square miles. It would be the 18th-largest state in the U.S., roughly the size of Washington or South Dakota.

But this region is still surprising everyone with its potential. The $25 billion oil producer Marathon Oil just announced a new discovery named Mirawa about 40 miles north of Erbil. The first well flowed 11,000 barrels of oil per day, 1,700 barrels of condensate per day, and 72 million cubic feet of natural gas.

It's a huge discovery.

In his presentation, Matt gave the names of five small-cap oil companies operating in Kurdistan. He thinks the oil majors, like ExxonMobil and Chevron, are about to go on a buying spree in Kurdistan... And he believes these small oil companies will likely be the targets

http://www.bloomberg.com/news/2013-12-03/iraq-controls-kurdish-oil-exports-under-new-accord-luaibi-says.html

------------------------------------------------------------------------------------ -------------------------------------------------------------------------------,



Turkish Energy and Natural Resources Minister Taner Yildiz has said that no matter what the Iraqi government decides on recently proposed mechanism, the oil deal with Iraq’s Kurdistan region will go on.
“If Iraqi accepts triple mechanism that we have founded, it can work. Of course it is a decision that our Iraqi brothers should decide on. If they do not accept, the process will go on,” Yildiz said at the Caspian Forum held in Istanbul on Thursday.
Turkey and Iraqi Kurdistan have recently agreed to get the consent of Central Iraqi Government in order to export oil from Kurdistan Regional Government, and start a strong collaborative project which would benefit all parties.
Yildiz earlier said that a working group was established with the Central Iraqi Government regarding the transfer of crude oil from Basra to Kirkuk-Yumurtalik, and the construction of a new pipeline.
"This working group will first work on a project regarding the unassembled pipeline of 400 km. Then they will perform a feasibility study, and keep contributing towards the completion of this project. Then we will join these pipelines together. I would like to emphasize that we support the Central Iraqi Government's project of taking the oil from southernIraq to world markets via northern Iraq," he had said.
Yildiz had said that the negotiations between Iraqi Central Government and Northern Iraq would soon begin, and they would be monitoring the situation closely, and make new evaluations accordingly

StockMarketWire.com
Investec has downgraded its recommendation on Kurdistan focused independent oil producer Genel Energy (LON:GENL) to "hold" from "buy" believing the stock's valuation has now reached an inflection point. The broker also said in its research note that it believes it is appropriate to apply a 10 - 15 per cent valuation discount to its Kurdistan asset base, given ongoing regional and political risks. Analysts have nudged up their price target to 1,140 pence per share (from 1,130 pence) after rolling forward their field models to 2014. Separately, Credit Suisse repeated its "outperform" recommendation (target price increased to 1,430 pence a share from 1,296 pence) in a note to investors, last week.

I was surprised to see Investec's new position on Genel. OK, there are political risks but as soon as Turkey gets used to receiving its oil down a pipeline, (with gas following on next year?), they are likely to be get very protective. It won't have escaped Iraq's notice the disparity in military capability between Turkey and Iraq which heavily favours Turkey if it comes to a punch-up. I reckon that Credit Suisse are more likely to be correct on this one, and then some, if the drilling next year proves successful.

Baghdad/ NINA/--A leading member for Kurdistan Alliance former MP, Abdul Bari Zebari said there are gripping prove the consent of the federal government on oil exports from Kurdistan region to Turkey.

The source said to NINA : "The export of oil from Kurdistan region to Turkey and European countries being conduct under the approval of three parties , the federal government, the provincial government and the Turkish government.

The Kurdish TV channel / Rudaw / in Erbil announced today that Kurdistan region began exporting oil to Trkiyah and attributed the information to an official Kurdish source./End

what is the trigger point that allows hayward and his buddies to get their snouts deep in the trough?

Strangely this was posted in May 2013, but he still seems to be there:
Director Declaration

In accordance with Listing Rule 9.6.14, Genel Energy plc announces that Tony Hayward, Chief Executive Officer of Genel Energy plc, has been appointed Interim Chairman of Glencore Xstrata plc with immediate effect with the intention that he will step down once a new chairman takes up the role.

I wonder if the sp will take a bit of a hit when this happens.

that's not the question
there's an sp trigger whereby if "that" price is held for 20 days out of 30 (or something) hayward and his buddies share £100m between themselves (and no one else)
it is almost inconceivable that this will not take place, and thus it equally follows that there will be a good time to short just before the payout - well that's my take on it

cynic sounds like shareholders being ripped off.

now why would you think that?
anyway, it was in ST Biz, but have binned that i think

Genel Energy plc issues a Trading and Operations Update in advance of the Company's 2013 full year results, which are scheduled for release on 6 March 2014. The information contained herein has not been audited and is subject to further review.

HIGHLIGHTS

· Kurdistan Region of Iraq ("KRI") independent pipeline infrastructure complete, exports expected to commence in the near future

- The KRI independent export pipeline infrastructure is mechanically complete.
- Commissioning of the system is ongoing and is expected to continue through the first quarter of 2014.
- The first KRI pipeline oil has arrived at Ceyhan in Turkey. The Kurdistan Regional Government ("KRG") has announced that first KRI export sales via the pipeline are expected to commence in the near future, and ramp up over the remainder of the year.

· Inter-governmental Gas Sales Agreement signed

- In November 2013, the Government of Turkey and the KRG signed a Gas Sales Agreement ("GSA") governing the export of natural gas from the KRI to Turkey.
- The GSA calls for an initial 4bcma of gas exports from 2017, rising to 10bcma by 2020 and the option of increasing to 20bcma thereafter.
- Genel anticipates that the Miran and Bina Bawi fields will deliver the gas supply to underpin the GSA, and as such it represents a significant milestone in the commercialisation of this major gas resource.

http://www.moneyam.com/action/news/showArticle?id=4739145

StockMarketWire.com

Liberum Capital has downgraded its recommendation on Genel Energy (LON:GENL) to "hold" from "buy" believing the shares are now fairly valued, given the backdrop of ongoing political risks, especially around Baghdad, Erbil and Ankara. Nevertheless, the broker believes there could be upside to around the £14 mark, if these issues were to be resolved. The market's valuation of Genel is close to our [unchanged] 1150p price target and we are lowering our recommendation to a (positive) HOLD, Liberum said in its research note to clients. We remain broadly positive on the shares; export issues are, for us, the only stumbling block. "If a solution to the issues is found, we believe Genel shares would trade at a premium to asset value, reflecting Genel's unrivalled position and its ability to find and develop resources in Kurdistan."

http://www.shafaaq.com/en/index.php?option=com_content&view=article&id=8990:plans-to-establish-a-second-oil-pipeline-from-kurdistan-to-turkey&catid=48:business&Itemid=73

KRG exercises back-in right to Miran PSC
Genel Energy plc ("Genel" or "the Company") announces that, on 23 February 2014, the Kurdistan Regional Government ("KRG") notified the Company of its intention, pursuant to the Miran Production Sharing Contract ("PSC"), to exercise its Option of Government Participation.

Accordingly, Genel's working and paying interests in the Miran PSC will fall from 100% to 75%, with the KRG's working and paying interests at 25%.

The Miran PSC covers 761km2 and contains the Miran gas, oil and condensate discovery, which has been independently assessed to contain gross mean contingent resources of 3.5 trillion cubic feet and 95 million barrels of oil and condensate.

On the back of the Turkey-KRG Gas Sales Agreement signed in November 2013, Genel is currently working with the KRG to put in place a Gas Sales Offtake Agreement for the Miran field by mid-year 2014. In parallel, the Company continues to screen a number of development concepts, incorporating both domestic and export supply options.

Cheers Harry,added to the header.

http://www.basnews.com/en/News/Details/Turkish-Energy-Minister--Kurdistan-is-our-only-solution-to-tackling-gas-prices/13637

Genel Energy plc, the London listed exploration and production company and largest independent oil producer in the Kurdistan Region of Iraq, announces its preliminary audited results for the year ended 31 December 2013

Highlights
§ KRI export pipeline infrastructure complete and in the commissioning phase. Volumes of KRI oil in storage at Ceyhan continue to grow
§ Turkey-KRG Gas Sales Agreement a significant milestone in the commercialisation of Miran and Bina Bawi gas fields
§ 100% success rate on KRI exploration - Chia Surkh, Ber Bahr and Tawke Deep discoveries
§ Successful appraisal drilling at Bina Bawi increased mean contingent resources by 70%
§ Proven and probable reserves (2P) increased to 453 mmboe (2012: 445 mmboe), representing a reserve replacement ratio of 147%
§ Total working interest reserves and unrisked resources increased to 5.9 bnboe (2012: 5.4 bnboe)

Exploration update
§ JM-1 well on the Cap Juby prospect offshore Morocco confirms the presence of oil in the Upper Jurassic, as originally tested by the 1968 MO-2 well, some 2km from the JM-1 location. The well continues to drill ahead to the primary Middle Jurassic target
§ Taq Taq Deep well drilled to 4,600 metres, with around 300 metres of gas and condensate shows recorded in the Jurassic

Outlook
§ 2014 production guidance maintained: average net working interest production expected to be 60-70,000 boepd, significant growth of 50% at the midpoint of the range
§ Upgrades at both Taq Taq and Tawke on track to deliver processing capacity of 200,000 bopd by the end of 2014
§ Fully funded drilling campaign ongoing, with five high-impact wells in 2014 targeting 1.2 bnboe gross unrisked prospective resource
§ Significant value creation opportunity through domestic sales, early domestic gas monetisation with first production at Dohuk in late Q1 2014
§ Gas Sales Offtake Agreements with KRG for Miran and Bina Bawi expected to be signed in the second half of 2014

http://www.moneyam.com/action/news/showArticle?id=4767810