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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

Oil is currently up over $50 pb, so think that may be the reason for the rise here.

Probably right.
LATEST BROKER VIEWS

Date Broker New target Recomm.
26 Oct Beaufort... N/A Speculative Buy
26 Oct Investec 445.00 Buy
21 Oct Beaufort... N/A Speculative Buy
21 Oct Barclays... 500.00 Equal weight
21 Oct JP Morgan... 610.00 Overweight
8 Oct JP Morgan... 610.00 Overweight
23 Sep Deutsche Bank 520.00 Buy
16 Sep JP Morgan... 700.00 Overweight
14 Sep Barclays... 500.00 Equal weight
11 Sep Canaccord... 560.00 Buy
Broker Recommendations for Genel Energy

Probably right.
LATEST BROKER VIEWS

Date Broker New target Recomm.
26 Oct Beaufort... N/A Speculative Buy
26 Oct Investec 445.00 Buy
21 Oct Beaufort... N/A Speculative Buy
21 Oct Barclays... 500.00 Equal weight
21 Oct JP Morgan... 610.00 Overweight
8 Oct JP Morgan... 610.00 Overweight
23 Sep Deutsche Bank 520.00 Buy
16 Sep JP Morgan... 700.00 Overweight
14 Sep Barclays... 500.00 Equal weight
11 Sep Canaccord... 560.00 Buy
Broker Recommendations for Genel Energy

Same as PMO and TLW , once oil stops going up down they will go ,got to get in when things are bleak .

Thanks Jimmy, back to trade what you know for me then :0)

Chris i missed this rise but i have bought PMO and TLW down low and sold on small rises , PMO below 70p and TLW below 200p .
I have not as yet bought this .
PS Tullow has been quite easy to read , as Buffet says buy when there is blood on the street and for me that applies to these smaller oilers .

Ok Jimmy thanks.

.

Barclays Capital retains equal weight on Genel Energy, target cut from 500p to 350p.

Sky News has learnt that Genel Energy, which Mr Hayward has chaired since stepping aside from the chief executive's post this year, is in the early stages of discussions about a tie-up with New African Global Energy (New Age).

Sources said on Tuesday that the talks were at an early stage, and were just one of a number of conversations taking place between Genel and other oil groups as the industry readjusts to the protracted slump in oil prices.

Genel's oil production is currently focused on Kurdistan, but it has a string of exploration assets in Somaliland, Morocco, the Ivory Coast and elsewhere in Africa.

One banker described the company as a "good fit" with New Age, which has a similar geographic profile, operating across Africa and in Kurdistan.

The structure of any potential deal is unclear, with one possibility that Genel could use its shares as part of a consideration to acquire New Age.

The two companies are said to be of roughly comparable size.

New Age is owned by a group of private shareholders, including the Wall Street investment manager Och Ziff, the oil trader Vitol and an undisclosed group of sovereign wealth funds.

A merger of Genel and New Age would come as oil explorers examine ways to dilute the impact of the downturn in oil prices, with many analysts and executives anticipating that it may continue for another 12 months.

Cazenove comment:
"Rationale for Genel. From a Genel perspective, it would provide a more diverse production base, with lower risk to revenues, an issue which has clearly impacted its market rating. It would also add barrels that are easier to finance (via RBL or RCF type bank loans) for growth. It would likely make Genel the largest reserve holder in European E&P.
New Age has a portfolio that overlaps in several regions – Kurdistan, Morocco, Ethiopia. Judging from New Age’s website, it has multiple years of growth and a decent exploration hopper.
Rationale for New Age. From a New Age perspective, a deal would be a way of publically listing the business without a formal IPO process that would likely be very difficult given the current market backdrop. A merger with listed Genel could provide a potential exit route for some New Age shareholders and, of course, a public market valuation, which private equity looks for. One of Genel’s key assets is its seasoned UK listing, in our view.
Questions to answer ahead of a possible merger. 1) Dilution risk – Clearly the structure of the deal is important. From our perspective Genel shares are trading at a steep discount to NAV, meaning it could be NAV dilutive to do a paper deal of size (assuming an all equity exchange).
Such dilution could be reduced if Genel does not pay a premium – arguably New Age should pay the premium given access to Genel’s UK listing. 2) Valuation – What is New Age’s fair value? We do not have a good line of sight on reserves (New Age website cites 861 mmboe 2P +2C), or production (is early stage in the KRI and Congo is likely around 5-10 kbopd currently). 3) Balance sheet – New Age does not have publically traded debt, but it has some convertible debt. 4) Growth profile – New Age’s website cites 5 development projects, of which 3 are LNG developments. We do not know how much capex needs to be deployed to achieve this growth and how much of this growth is still unfunded. Africa has not been a happy experience for Genel shareholders given an expensive and ultimately unsuccessful exploration campaign."

Credit Suisse today reaffirms its outperform investment rating on Genel Energy (LON:GENL) and cut its price target to 430p (from 465p).

StockMarketWire.com
Genel Energy has announced that the Taq Taq field partners have received a gross payment of $30m from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Turkey pipeline.

Genel's share of the gross Taq Taq payment is $16.5m.

Genel also notes the announcement on 3 December 2015 from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a gross payment of $30m for oil exported through the Kurdistan Region of Iraq-Turkey pipeline.

Together, these represent the third monthly export payments made to contractors in 2015.

Is the share price tells you something?
well there is two reason at the moment not to buy the shares

1 - the TREND
The trend is your friend they say, it has been this way for some time now

2 - Oil price
once again today the Oil price has got into a new lows

Conclution:
wait till all reverses

Barclays Capital today upgrades its investment rating on Genel Energy (LON:GENL) to overweight (from equal weight) and left its price target at 350p.

below is the 5 year chart, merely to highlight the plight of all e+p oilies

StockMarketWire.com
Genel Energy is well positioned to weather the downturn and thrive when the oil cycle turns, chief executive Murat Ozgul says.

Ozgul says: ""2015 was a very challenging year for the oil industry, with pronounced oil price weakness which has continued into 2016. In addition, the funding of the security effort in northern Iraq, influx of refugees into the KRI and cessation of budget transfers from Baghdad continue to place a very significant strain on the KRG's finances.

"Against this backdrop, the recent receipt of four consecutive payments for pipeline exports is highly encouraging. These payments, totalling almost $100 million, have stabilised our receivable and maintained our healthy cash position. We recognise the efforts that the KRG has made to meet its commitments to IOCs in a very difficult economic environment. "With low oil prices expected to persist in the near-term, we have focused on cost control by cutting capital expenditure and overheads. With production costs of less than $2 per barrel, a robust cash position, low capital commitments and a material resource base, Genel is well positioned to weather the downturn and thrive when the oil cycle turns."

Investec today reaffirms its buy investment rating on Genel Energy PLC (LON:GENL) and cut its price target to 230p (from 350p).

StockMarketWire.com
Genel Energy has announced that the Taq Taq field partners have received a gross payment of $16.3 million from the Kurdistan Regional Government for oil exported through the Kurdistan Region of Iraq-Turkey pipeline.

Genel's share of the gross Taq Taq payment is $9 million. As the Ministry of Natural Resources announced on 1 February, the payment is based on the monthly production entitlement, inclusive of crude quality differentials compared to Brent and the deduction of applicable transportation charges and handling costs. Payments will be subject to full reconciliation with the terms of the production sharing contract in due course. An additional $3.2 million payment ($1.8 million net to Genel), equivalent to five percent of the gross monthly netback revenue of the field, has been made towards the recovery of the receivable. The KRG has stated that payments will be increased as oil prices rebound. In total, Genel received $10.8 million for the Taq Taq field for the month of January.

Genel notes payment for KRI oil exports

StockMarketWire.com

Genel Energy has noted the announcement from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a gross payment of $17.99 million towards the monthly entitlement for January, for oil exported through the Kurdistan Region of Iraq-Turkey pipeline. An additional $3.46 million gross payment has been made towards the recovery of outstanding entitlements for past deliveries. The payments will be shared pro-rata by DNO and Genel.

At 8:14am: (LON:GENL) Genel Energy PLC share price was +3.5p at 121.5p