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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

edited - well has double up, the post not the share price

StockMarketWire.com
Genel Energy's pre-tax losses rose to USD1.2bn in the year to the end of December - up from USD312.8m in 2014.

Revenues fell to USD343.9m from USD519.7m and earnings before interest, tax, depreciation, amortisation, impairment and exploration expense fell to USD279.4m from USD410.6m.

Chairman Tony Hayward said: "The sustained low oil price has placed a significant strain on both the industry and the economy of the Kurdistan Region of Iraq.

"As the external environment has deteriorated, we have been proactive in ensuring that your Company remains robust. Our production costs are amongst the lowest globally, and our asset base allows us to flex our capital expenditure programme to align with our cashflow and to preserve a robust balance sheet.

"Despite the reserve reassessment and write down at Taq Taq, which is very disappointing, our asset base remains strong, with many years of production ahead of us.

"Despite the difficulties of the external environment, 2015 saw record production for Genel, up 22%. Payments for pipeline exports in the second half of the year, followed by a payment mechanism being confirmed in 2016, both demonstrated the firm commitment of the Kurdistan Regional Government to fully compensate IOCs for all production, both in the past and going forward."

Chief executive Murat Ozgul said: "We recognise and share the disappointment of the recent Taq Taq reserves update. Both Taq Taq and Tawke remain low-cost oil fields by any global benchmark. The fields are set to be significantly cash generative going forward, with a discretionary investment programme aiming to maximise the value of the remaining reserves. Our 264 million barrels of net 2P reserves comprise a robust oil business well positioned in the current oil price environment.

"The instigation of the new payment mechanism by the KRG Ministry of Natural Resources in February 2016 provided clarity over the timing and quantum of our monthly receipts for export payments, recognising our receivable and putting in place the process through which it will be recovered.

"We are now starting to make real progress in the development planning for our KRI gas business. It remains a unique opportunity underpinned by a government signed gas sales agreement."

JP Morgan Cazenove today reaffirms its overweight investment rating on Genel Energy PLC (LON:GENL) and cut its price target to 237p (from 248p).

There is a pretty harsh downtrend here. Possibility of a trade north to close a gap if you can be arsed @ 114p. Far better imo to wait till trend reverses if it ever will and go long then. But hey, horses for courses. To breach 50DMA and stick would be a good start.

Genel notes update on Tawke reserves

StockMarketWire.com

Genel Energy has noted that DNO ASA, as operator of the Tawke field has today published updated estimates of field reserves. Genel has a 25% working interest in the Tawke field.

Genel says the timing of DNO ASA's reserves update is in line with the disclosures made in the company's full year 2015 results on 3 March. The full DNO annual statement of reserves, providing further context, can be found at www.dno.no. At 31 December 2015, Tawke gross proved (1P) reserves are estimated by DNO ASA at 387.0 mmbbls, a 21% increase from the 319.9 mmbbls at year-end 2014, with the increase driven by improved confidence on primary recovery rates at the field.

At 31 December 2015, gross proved plus probable (2P) reserves are estimated at 543.0 mmbbls, compared to 680.3 mmbbls at year-end 2014. The reduction from year-end 2014 reflects 2015 production of 49.3 mmbbls, technical revisions of 5.5 mmbbls and a recategorisation of 82.5 mmbbls from 2P reserves to 2C contingent resources pending both a review of enhanced recovery options at Tawke and a decision to commit funds towards a field-wide redevelopment programme.

The updated Tawke 2P reserves compares to Genel's previously reported figure of 631.0 mmbbls, which was disclosed as part of the full year 2015 results.

The 631.0 mmbbls figure was a pro-forma estimate derived from DNO ASA's 31 December 2014 Tawke 2P reserves of 680.3 mmbbls less 2015 gross production of 49.3 mmbbls.

Genel Energy also announced a reverse tender offer to holders of Genel Energy Finance plc's USD730 million GENEL01 PRO senior unsecured callable bonds with ISIN NO0010710882.

The company, being the sole shareholder of Genel Energy Finance plc and guarantor of the bonds, intends to offer one repurchase price at which all relevant bonds are to be repurchased. The repurchase price will be determined through a reverse book-building ('Dutch auction').

The buy-back offer is being carried out for cash management purposes and the company intends to buy back a minimum of USD50 million in nominal value of bonds.

At 8:01am: (LON:GENL) Genel Energy PLC share price was +5.5p at 84.75p



Story provided by StockMarketWire.com

LATEST BROKER VIEWS

Date Broker New target Recomm.
18 Mar Liberum Capital 100.00 Hold
10 Mar RBC Capital... 115.00 Sector Performer
8 Mar Liberum Capital 100.00 Hold
4 Mar JP Morgan... 237.00 Overweight
2 Mar Canaccord... 210.00 Speculative Buy
1 Mar Barclays... 130.00 Overweight
1 Mar JP Morgan... 248.00 Overweight
29 Feb Investec 205.00 Buy
26 Feb Canaccord... 290.00 Speculative Buy
9 Feb Barclays... 350.00 Overweight
Broker Recommendations for Genel Energy

22 March 2016



Genel Energy plc



Receipt of payment for KRI oil exports from Taq Taq field



Genel Energy plc ('Genel') is pleased to announce that the Taq Taq field partners have received a gross payment of $12.6 million from the Kurdistan Regional Government ('KRG') for oil sales during February 2016. Genel's share of the gross Taq Taq payment is $6.9 million.



As agreed with the KRG, sales into the local market and deliveries to the Bazian refinery during February 2016 were invoiced at the wellhead export netback price, in line with the payment mechanism announced by the KRG on 1 February 2016.



An additional $2.5 million payment ($1.4 million net to Genel) has been made towards recovery of the receivable.



In total, Genel received $8.3 million for the Taq Taq field for the month of February.



Gross oil sales from the Taq Taq field in February 2016 averaged 62,091 bopd. Production and sales during the month were impacted by the shut in of the KRI-Turkey export pipeline between 17 February and 10 March 2016. Flows into the export pipeline from the Taq Taq field resumed on 11 March 2016.



-ends-



For further information, please contact:



Genel Energy

Phil Corbett, Head of Investor Relations

Andrew Benbow, Head of Public Relations
+44 20 7659 5100




Vigo Communications

Patrick d'Ancona
+44 20 7830 9708

Jefferies International today downgrades its investment rating on Genel Energy PLC (LON:GENL) to underperform (from buy) and cut its price target to 62p (from 248p).

Genel Energy PLC Double In 12 Months? - By Motley Fool | Thu, 7th April 2016

An oil stock that could double

Genel Energy (LSE:GENL) can breakeven with Brent crude at $20 per barrel -- half the current oil price. Unfortunately, these ultra-low costs have not prevented the Kurdistan producer's shares falling by 85% since May 2015.

Falling oil prices have depressed the shares of all oil companies. Things have been made worse for Genel because the firm is owed about $422m for past oil production. Genel also operates on the fringes of a major conflict.

Genel's most recent lurch lower was in February. Following production declines in 2015, the company was forced to downgrade its estimate of proven and probable oil reserves for the Taq Taq field by almost 50%.

Despite all of this, Genel looks cheap by any normal measure of value. The risk is all political: will the war with ISIS spread into Kurdistan? Will the Kurdish government ever be able to pay its bills?

Genel could easily double, perhaps even more. But it could fall further too. This is a very speculative buy, in my view.

Receipt of payment for KRI oil exports from Tawke field
Genel Energy plc ('Genel') notes the announcement from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a gross payment of $16.87 million from the Kurdistan Regional Government for March crude oil deliveries to export and local markets from the Tawke field under the payment arrangement announced earlier in 2016.

An additional $3.24 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.

Having a go at closing that wee gap and finally above 50DMA.

Gap closed. Where next? haven't got a scooby doo.

As long as sp stays above 50DMA and or 100p worth a punt to next target 140p would be my guess. Watching.

Long this morning on the spreads @ 116.98 target 140p stop 98.98

Stop to entry for risk free trade. If oil goes south profit taking will kick in.

Added 128.01

Stops to 124.98

Struggling to breach 130p, overbought on RSI may have to consolidate to go higher.

Not exactly setting the world on fire, but 130p cleared for now.

What's going on?

no news on reuters or anywhere else, so perhaps just some strange rogue price
note that there is no trading volume shown either