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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

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

StockMarketWire.com
Genel Energy has noted the start of production from the Tawke field in the Kurdistan region of Iraq and the abandonment of a well offshore Morocco.

Genel - which has a 25% working interest in the field said the operator DNO International had issued a release that it has initiated production from two newly completed horizontal wells in the Tawke field in the Kurdistan region of Iraq at a combined rate of 37,000 barrels per day. The release said: "In one of the new wells, Tawke-21, eight productive fracture corridors penetrated by a 980-meter horizontal section in the main Cretaceous reservoir interval flowed an average rate of 9,700 barrels per day each. In the other well, Tawke-22, located six kilometers away, seven productive fracture corridors penetrated by an 800-meter horizontal section flowed an average rate of 8,800 barrels per day each. Both wells are subject to wellbore and surface facilities limitations. "Two previous Tawke horizontal wells came on production in the second half of last year, two wells are currently drilling and three more are scheduled which, together with Tawke-21 and Tawke-22, will bring the total number of horizontal wells in the field to nine by year-end."

Genel also noted that Cairn Energy has plugged and abandoned the JM-1 well offshore Morocco. Genel has 37.5% working interest.

Acquisition of interests in offshore Angola pre-salt exploration licences

Genel Energy plc is pleased to announce that, together with White Rose Energy Ventures, it has agreed to acquire 15% working interests in Blocks 38 and 39 offshore Angola.

Blocks 38 and 39 are situated in the Kwanza Basin and cover an area of c.14,000km2 in water depths of 1,500-2,500m.

The transactions provide Genel with a position in exploration licences that hold multi-billion barrel prospectivity and represent a relatively low risk, high impact near-term exploration opportunity. The play has already been de-risked by exploration drilling in Angola and in the directly analogous Santos and Campos Basins offshore Brazil. A working hydrocarbon system has already been established in the Kwanza Basin through the Cameia, Lontra, Mavinga, Bicuar, Orca, and Azul discoveries, which are located on licences directly adjacent to Blocks 38 and 39.

The Stena Carron drillship has been contracted for a drilling programme which is expected to commence in Q2 2014. The first well of this programme, on Block 39, is expected to target the very material Dilolo prospect. The first well on Block 38 is scheduled to follow the Block 39 well.

The interests will be acquired through two separate transactions. In each transaction, a 15% working interest will be acquired by a 50/50 Genel/WREV joint venture company.

In Block 38, the 15% working interest will be acquired from China Sonangol for an upfront payment of US$59m (US$30m net to Genel), representing a pro rata share of past costs.

In Block 39, the 15% working interest will be acquired from the operator, Statoil Angola Block 39 AS (a wholly-owned subsidiary of Statoil), for a consideration comprising a pro rata share of past costs and a partial carry of Statoil's share of the first exploration well, for a total consideration value of US$222m (US$111m net to Genel). All consideration will be paid by carrying Statoil's share of expenses on the block, with the carry on the first exploration well capped at US$123m (US$61m net to Genel) and the remaining US$99m carry (US$50m net to Genel) paid in the event that Genel/WREV elects to participate in additional activity on the Block.

Genel intends to fund its share of the acquisition consideration and drilling cost through existing cash balances. Completion of the acquisition is subject to both Angolan government and Block partner approvals.

Macquarie note today:
"The Kurdish pipeline is complete and binding agreements have been signed with Turkey. Everything is in place for the KRG to ramp up its exports and start on its pathm to over one million bopd of crude production. One thing is standing in the way:Baghdad. Tensions are running high; however, the upcoming Iraqi elections could pave the way toward opening the flood gates that will let Kurdish oil into international markets.
Kurdistan has fair fiscal terms, proving infrastructure and ~45 billion boe of recoverable resource, putting it on a world class scale. Companies that have chosen the right assets are poised to reap the rewards. We have analysed each asset using a proprietary ranking method and rate all of Genel’s assets, as well as Oryx’s Hawler block, as excellent. Following closely behind are Afren’s Ain Sifni and Barda Rash licences.
We believe Genel Energy (GENL-LSE), Afren (AFR-LSE) and Oryx Petroleum (OXC-TSX) all stand in a good stead; however, we particularly favour Genel’s exposure. The company has greater than 1 billion boe of contingent resource, two of the largest producing assets in the region (Taq Taq and Tawke), and in H2/14, a Gas Sales Offtake Agreement to supply the hungry Turkish market from its gas fields, Miran and Bina Bawi. We initiate coverage of Genel with an Outperform rating and a target price of 1,450p."

Genel Energy plc ("Genel" or "the Company") issues the following Interim Management Statement for the period from 1 January 2014 to today. This statement is issued ahead of Genel Energy's Annual General Meeting, which is being held at 11.00am today at the Sofitel St James, 6 Waterloo Place, London, SW1Y 4AN.

PRODUCTION AND REVENUE
· 2014 production and revenue guidance unchanged at 60,000-70,000 boepd and revenue of $500-600 million

· Net working interest production for the first quarter averaged 50,000 bopd, an increase of 35% on Q1 2013

o Taq Taq and Tawke averaged 81,000 bopd and 57,000 bopd respectively

· Domestic sales realisations were $69/bbl for Taq Taq and $58/bbl for Tawke

· Production and revenues expected to increase over the course of 2014 as the Kurdistan Region of Iraq ("KRI") oil pipeline system comes into operation

INFRASTRUCTURE
· The KRI pipeline commissioning process is substantially complete after compression was installed at the Khurmala Dome. Works to replace a short section of the 40 inch Iraq-Turkey pipeline in Turkey and install extra compression at Fishkabur are expected to be completed in H2 2014.

DEVELOPMENT AND APPRAISAL
· At the Taq Taq field, the construction of the second central processing facility is progressing and is on track for completion around year end. The drilling of the first deviated and horizontal wells on the field will follow completion of the Taq Taq Deep exploration well.

· During the quarter, two additional horizontal development wells were completed at the Tawke field and brought onstream at a combined rate of 37,000 bopd. The operator, DNO International, has outlined plans to increase field processing capacity from 100,000 bopd to 200,000 bopd by the end of 2014 through the installation of early production facilities.

· First gas production from the Summail field development is expected shortly.

EXPLORATION
· In April, the company announced that, together with White Rose Energy Ventures, it had agreed to acquire 15% working interests in Block 38 and 39 offshore Angola. The transactions provide Genel with a position in exploration licences that hold multi-billion barrel prospectivity and represent an attractive high-impact near-term exploration opportunity. The Stena Carron drillship has been contracted for a drilling programme, which is expected to commence in mid-2014. The first well of this programme, on Block 39, is expected to target the very material Dilolo prospect.

· Drilling operations on the Taq Taq Deep exploration well were completed in March 2014 at a depth of 4,600m after the well had intersected gas bearing upper Triassic reservoirs. A testing programme on Jurassic and Triassic reservoirs is now in progress.

· The Cap Juby well offshore Morocco confirmed the presence of heavy oil over a gross interval of 110 metres in an Upper Jurassic carbonate reservoir. Work is ongoing to evaluate the extent of moveable hydrocarbons and how any further assessment should be conducted.

· The exploration well on the Hagar Qim prospect on the Area 4 licence offshore Malta is scheduled to spud in May.

FINANCE
· 2014 capital expenditure guidance remains at $550-600 million as the capital programme has been optimised to accommodate the Angola drilling activity.

· Cash balances at 31 March 2014 stood at c.$600 million.

Genel Energy's 2014 Half Year Results will be announced on 5 August 2014.

Director Declaration

Genel Energy plc notes that Glencore Xstrata plc has announced the permanent appointment of Tony Hayward as its Non-Executive Chairman with immediate effect.

surprised none of you guys picked up on the good snippet in yesterday's ST .... hence this morning's little flurry

Comment from Oriel today:
"At the current price, we see little implied risk of accident, disappointment, failure or miscalculation in regard to the business of producing and selling oil in Kurdistan. As such, we do not think the ‘political de-risking’ buy case for Genel is compelling. Given this view, we think only a speedy maturation of the gas development portfolio, coupled with exploration success in Angola or Morocco, can support the current share price. Our negative stance on these key assets leads us to a REDUCE recommendation.
Important, low return gas projects are at risk. Using Genel’s own cost assumptions, we do not think Miran and Bina Bawi represent attractive uses of capital at likely gas prices. The two fields are strategically important to Kurdistan’s relationship with Turkey and this fact may lead to an accord between the Kurdistan Regional Government (KRG) and its contractors. However, Genel needs to farm out at Miran and we think any delay in reaching the advertised field development milestones will be taken negatively as the year progresses.
Exploration hopper, filled at great expense, could be empty by year end.
Genel’s decision to shorten a two-year contract for its deepwater drilling rig suggests a lack of good prospects in its Africa exploration portfolio, in our view. Although we are encouraged at the show of capital discipline, there is now little visibility on Africa exploration in 2015. We carry a risked value of 100p/sh for this year’s remaining five exploration wells, noting that four of these are to be drilled at sole risk or with Genel providing a significant carry, at a net cost of US$300-350m (65-75p/sh).
Violence in Iraq may preclude Genel’s near term acquisition. One compelling reason to hold Genel is the potential for a corporate takeover at a higher price level. The strategic significance of Tawke and Taq Taq make them appealing to an acquirer, especially should the KRG move further towards autonomy and/or independence in the months ahead. However, given recent violence, political disquiet and Genel’s c.US$4bn EV, we think an outright sale is unlikely for some time."

Trading and Operations Update
Genel Energy plc ("Genel" or the "Company") issues a Trading and Operations Update in advance of the Company's half-year 2014 results, which are scheduled for release on 5 August 2014. The information contained herein has not been audited and may be subject to further review.

PRODUCTION AND REVENUES UPDATE
· Gross production from Taq Taq averaged 92,000 bopd in H1 2014 and 113,000 bopd in June.
· Gross production from Tawke averaged 84,000 bopd in H1 2014 and 116,000 bopd in June.
· Genel net working interest production averaged 63,000 boepd in H1 2014, an increase of 50% on H1 2013.
· Genel net working interest production averaged 84,000 boepd in June 2014 on the back of exports via the KRI-Turkey pipeline, trucked exports via Turkey, strong domestic demand and the ramp up of deliveries from the Summail gas field into the Dohuk power station.
· The Company's 2014 production guidance is maintained at 60-70,000 boepd.
· The Company's 2014 revenue guidance is maintained at $500-600 million.

http://www.moneyam.com/action/news/showArticle?id=4842186

Unaudited results for the six months to 30 June 2014
Genel Energy plc ("Genel" or the "Company"), the London listed exploration and production company and largest independent oil producer in the Kurdistan Region of Iraq, announces its unaudited half year results to 30 June 2014

Highlights
§ Genel's operations in the Kurdistan Region of Iraq (KRI) remain safe and secure
§ Significant volume growth in H1 2014, average net working interest production of 63,000 boepd represents c.50% uplift on H1 2013
§ Progress towards sustainable KRI pipeline exports - first cargo lifted from Ceyhan in May and proceeds from first sale received in a Turkish bank account controlled by the Kurdistan Regional Government (KRG)
§ First gas from Summail development delivered to Dohuk Power Station in May
§ H1 2014 revenues of $192 million, up 20% on H1 2013, excludes $40 million of export revenue owed but not recognised
§ H1 2014 EBITDAX of $138 million, up 6% on H1 2013 principally as a result of higher revenue
§ Cash balances at end H1 2014 of $974 million following high-yield bond issue; net cash of $483 million at period end

Exploration update
§ Material Dilolo prospect offshore Angola spudded in June, drilling operations scheduled to take up to 5 months to complete
§ Nour prospect on Sidi Moussa licence offshore Morocco spudded in late July and is expected to take two to three months to complete

Outlook
§ 2014 production (60-70,000 boepd), revenue ($500-600 million) and capex guidance ($550-600 million) unchanged
§ Good progress negotiating a gas sales offtake agreement (GSOA) for Miran and Bina Bawi; expected to conclude by year-end 2014.

Commenting today Tony Hayward, chief executive, said:
"Operational momentum in the KRI is increasing, with the opening of the KRI-Turkey pipeline resulting in a significant rise in our production. Whilst we continue to monitor the situation closely, our operations in Kurdistan have been unaffected by events elsewhere in Iraq. The KRG has successfully sold oil exported through Ceyhan at international prices, and we expect our production to increase further in the second half of the year as sales become regular and payments predictable.

The signing of the gas sales offtake agreement for Miran and Bina Bawi will be transformational for our gas business, and will provide a clear path to monetisation of this world-class resource. With the GSOA expected to be signed before the end of the year, and drilling underway on high-impact prospects offshore Angola and Morocco, the Company is set to make material progress in the second half of 2014."

Update regarding Kurdistan Region of Iraq
"Following recent events in the vicinity of the Kurdistan Region of Iraq ('KRI'), Genel Energy plc can confirm that the Taq Taq and Tawke fields remain safe and secure. Operations there are unaffected, with combined gross production from both fields averaging c.230,000 bopd this week.

We remain confident in the Kurdistan Regional Government's ability to maintain the territorial integrity of both the KRI and oil infrastructure.

In line with moves by other operators, we are taking the prudent and precautionary step of withdrawing non-essential personnel from our non-producing assets in the region."

Getting hammered today.

Chart support at 720p?

Return to normal staffing levels in Kurdistan Region of Iraq
Genel Energy announces that, following a significant improvement in the security situation in the border region of the Kurdistan Region of Iraq ('KRI'), the Company has begun the process of returning staffing levels to normal. This follows the temporary and precautionary step of withdrawing non-essential personnel from non-producing assets.

Genel's primary consideration is the safety and wellbeing of our employees. The decision to resume full operations has been made following a close monitoring of the situation, and in consultation with the Kurdistan Regional Government, Foreign and Commonwealth Office of the British Government, and other well-placed authorities.

Genel's operations in the KRI remain safe and secure. Production at Taq Taq and Tawke has been entirely unaffected, and has risen to record levels. Since the start of September combined production from Taq Taq and Tawke has averaged c.234,000 bopd, with piped exports from both fields totalling an average of c.182,000 bopd, boosted by the recent upgrade work on the KRI-Turkey pipeline.

StockMarketWire.com
Genel Energy had noted today's announcements by its partners San Leon Energy and Serica Energy regarding the Sidi Moussa-1 well offshore Morocco, operated by Genel with a 60% working interest.

Genel confirms the information contained in the operational updates issued by its partners.

Genel says it is premature at this stage of operations and ahead of the forthcoming testing of the well to make any definitive technical interpretation.

Genel shall update the market on completion of operations.