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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

Just a reminder,


Pipeline update

In response to continued industry exploration success, the KRG announced its pipeline infrastructure plans for the Kurdistan Region during 2012. In order to facilitate the export of its crude oil, it intends to construct a new 1 million bopd capacity pipeline to the Turkish border.

The first phase is nearing completion. The construction of a 20" pipeline from the Taq Taq oilfield to Khurmala is expected to be operational in the first quarter of 2013, giving Taq Taq access to the Erbil refinery and the existing Kirkuk to Ceyhan export infrastructure. The pipeline has an initial capacity of 150,000 bopd and has the potential to be increased to some 200,000 bopd with the addition of pumps. The second phase, a 1 million bopd capacity pipeline from Khurmala to the Fishkabur pump station on the border with Turkey, is expected to begin operating in 2014

GENEL ENERGY MAKES SIGNIFICANT OIL DISCOVERY IN FIRST CHIA SURKH WELL

The Anglo-Turkish oil and gas independent, Genel Energy, today announced that the first of five exploration wells it plans to drill this year in the Kurdistan Region of Iraq has made a significant oil discovery.

The Company said the Chia Surkh 10 well was drilled to a depth of 1,696 metres in the Oligo-Miocene section, and, in tests extending over several days, flowed at up to 11,950 barrels of oil a day and 15 million cubic feet of gas. The oil was 41 degrees API and well-head flow pressure 2,000 pounds a square inch.

Chia Surkh 10 was drilled on a large thrust-fault, controlled structure with up to 94 square kilometres of closure. A second drill-stem test is being planned for the Miocene section, after which the well will be suspended as a future producer.

Genel Energy chief executive Tony Hayward said the well confirmed the presence of 'a significant oil find' and that the Company had this week begun drilling a second well, Chia Surkh 11, to appraise the discovery.

"We intend to carry out a rapid appraisal and development programme and expect to have an early production scheme operating in the first half of 2014. Over the same period we will be evaluating and drilling a number of other prospects we have in the Chia Surkh licence," Hayward said.

"We are delighted at this level of success in what is the first of the five high-impact exploration wells we plan in the Kurdistan Region of Iraq during 2013. To have made a discovery of such potential materiality at this early stage is highly encouraging," Hayward said.

Chia Surkh 10 is the first exploration well to be drilled on the Chia Surkh acreage since 1954. The 985 square kilometre licence is operated and held 60 per cent by Genel Energy. The remaining 40 per cent is held equally between Petoil, Inc. and the Kurdistan Regional Government.

http://rudaw.net/english/middleeast/turkey/19042013

StockMarketWire.com
Deutsche Bank has issued a research note on Genel Energy (LON:GENL) today in which it increased its price target by 13 per cent to 1,230 pence per share (up from 1,090 pence). The City broker has reiterated its "buy" rating and reaffirmed Genel as one of its key picks in the European exploration and production sector.

Interim Management Statement

Genel Energy plc ("Genel Energy" or "the Company") issues the following Interim Management Statement for the period from 1 January 2013 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's, 6 Waterloo Place, London, SW1Y 4AN.

Highlights

PRODUCTION

· 2013 guidance unchanged: production at 45,000 - 55,000 bopd and revenue of $300 - 400 million

· Net working interest production for the first quarter averaged 37,000 bopd
o revenues in line with budget due to strong price realisations from domestic sales of around $70 per barrel
o Taq Taq and Tawke averaged 73,000 bopd and 18,000 bopd respectively, with volumes impacted by the New Year national holiday and maintenance work at Tawke

· Production capacity at key assets continues to grow:
o Taq Taq gross production capacity is currently 120,000 bopd, development drilling and processing capacity expansion continues and is on track to deliver capacity of 200,000 bopd in 2014
o Tawke gross production capacity is 100,000 bopd and is targeting 200,000 bopd by the end of 2014 with further development drilling underway.

http://www.moneyam.com/action/news/showArticle?id=4578612

StockMarketWire.com
Liberum Capital has upgraded its recommendation on Genel Energy (LON:GENL) to "buy" from "hold" as the company makes further progress in Kurdistan, ahead of the brokers expectations. The City broker has increased its price target by around 18 per cent to 1,000 pence per share (up from 850 pence).

GENEL ENERGY ANNOUNCES SUCCESSFUL ADDITIONAL TEST IN FIRST CHIA SURKH WELL

The Anglo-Turkish oil and gas independent, Genel Energy, today announced that a second drill-stem test carried out on the Chia Surkh 10 well has confirmed the existence of an additional oil bearing section.

The test was carried out over a 12 metre zone in a younger Miocene section than the the first drill-stem test, and flowed at sustained rates of 3,200 barrels of oil a day and 8.4 million cubic feet of gas. The oil was 38 degrees API and well-head flow pressure 2,550 pounds a square inch.

The successful completion of the second test on the Chia Surkh 10 well confirms that the presence of a significant oil discovery in Chia Surkh. As previously announced, the well will now be suspended as a future producer. The first appraisal well Chia Surkh 11 is already drilling on the same structure.

Genel Energy's Head of Exploration Dr John Hurst said: "The successful completion of the second test has further confirmed our belief that this is a significant oil find in the Kurdistan Region of Iraq. We will continue with our rapid appraisal and development programme, including the first appraisal well now underway and will be evaluating and drilling a number of other prospects we have in the Chia Surkh licence."

Chia Surkh 10 is the first exploration well to be drilled on the Chia Surkh acreage since 1954. The 985 square kilometre licence is operated and held 60 per cent by Genel Energy. The remaining 40 per cent is held equally between Petoil, Inc. and the Kurdistan Regional Government.

http://www.investegate.co.uk/genel-energy-plc--genl-/rns/rig-contract/201305010700106811D/

A summary of above:

StockMarketWire.com

Genel Energy has signed a drilling rig contract for its African offshore drilling programme with Noble Corporation.

The Noble Paul Romano deepwater, semi-submersible rig will be used to deliver a high impact drilling campaign over a 2 year period, starting in the last quarter of 2013.

The rig, which is currently undergoing a special 5 year class survey in Valletta, Malta, has a rated water depth of up to 1,800 metres and a drilling depth of approximately 7,500 metres.

AGR will be providing drilling management services.

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.

Up 40p and big volume.

StockMarketWire.com
Genel Energy has confirmed a commercial discovery following a successful side track of the original Ber Bahr 1 exploration well in the Kurdistan region of Iraq.

The Ber Bahr 1 well original TD was 3933m in the upper Permian Chia Zairi formation. It encountered good oil shows over a c.300m interval in the Jurassic. Two drill stem tests over this interval failed to flow.

The original well has now been successfully side tracked and in several tests, conducted over a period of days, achieved a sustainable flow rate of 2100 STB/ day of 15 API oil from the Middle Jurassic age Sargelu Formation. Head of exploration Dr John Hurst said: "The Ber Bahr well adds a further commercial oil discovery to Genel's already significant KRI resource base. We plan to begin a phased development of the field in the second half of this year."

Up 25p early.

Taq Taq to Khurmala Pipeline complete

Genel Energy and Addax Petroleum have completed the 70 km Taq Taq to Khurmala Pipeline in the Zagros Basin, northern Iraq.

The Taq Taq licence area covers approximately 951 sq km, and has 2P reserves of 607 MMbbl. It is located 60 km northeast of the Kirkuk oil field, adjacent to the city of Kirkiuk, 85 km southeast of the city of Erbil and 120 km northwest of the city of Sulaimaniyah.

Genel Energy states that there are 12 producing wells at Taq Taq, and the current production capacity of the field is 120,000 bbl/d, with plans in place to increase this to 200,000 bbl/d in 2014.

Front-end engineering and design (FEED) contractor OSD said that the project scope for the Taq Taq site included up to 1 MMbbl of oil storage in floating-roof tanks; pump systems; meters; office and warehouse facilities; and all utilities for the site such as fire water, power generation, control and SCADA systems; oily water treatment, and diesel storage.

The Taq Taq to Khurmala Pipeline system includes a fibre-optic cable with redundant satellite communications, emergency-shutdown systems, pigging facilities, and cathodic-protection systems.

OSD said that the 24 inch oil pipeline traverses high undulating terrain from Taq Taq to Kirkuk, with the route influenced by topography, river crossings and minefields. At its peak, the route rises to approximately 800 m. As part of the FEED requirements, OSD personnel completed field right-of-way and facilities site surveys in the remote Kurdistan region of Iraq.

The Taq Taq to Khurmala Pipeline, which was constructed by local company KAR, forms part of a larger infrastructure plan by the Kurdistan Regional Government, which is planning to construct a 1 MMbbl capacity oil pipeline to export oil from the Kurdistan region to the Turkish border. The first phase of this project is to connect Taq Taq to the Erbil refinery and the existing Kirkuk to Ceyhan export infrastructure. The second phase of this project is to link the oil fields in the Kurdistan region directly to Fishkabur on the Turkish border.

The plan aims to reduce the bottleneck on oil supplies via the previous export method. Previously oil was trucked approximately 135 km to Khurmala or 255 km to Fishkabur, where it was metered and pumped into the Kirkuk to Ceyhan Pipeline.

Genel Energy has now begun construction on the second phase from Khurmala to the Fishkabur pump station on the border with Turkey. The pump station will have an initial capacity of 300,000 bbl/d.

The second phase is expected to be in operation by 2014.

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:

"[The] deep Tawke-17 well tested 1,500 barrels a day of 26-28 degree API crude oil from an Upper Jurassic reservoir underlying the Tawke field in the Kurdistan Region of Iraq. Separately, the Tawke-20 well, the Company's first horizontal well in the Tawke field, has flowed an average of 8,000 barrels a day from each of the first four of ten fractured corridors penetrated by the well. Testing continues on both wells.

"We are very pleased that initial Tawke-17 results are in line with the Company's pre-drill estimates," said Bijan Mossavar-Rahmani, DNO International's Executive Chairman. "This discovery in the Sargelu formation, over 200 meters below the main field Cretaceous reservoir, likely bumps recoverable reserves on the Tawke license to the one billion barrel mark," he added.

Drilling of a second Tawke horizontal well continues on schedule. "If this second well, Tawke-23, demonstrates the significant deliverability uptick we are now seeing in Tawke-20, we will go back to the drawing board and consider further enhancements to our current target of 200,000 barrels a day of production capacity by 2015," Mr. Mossavar-Rahmani said. Last month the Company announced that it had met its previous goal of delivering 100,000 barrels a day from the Tawke field following 72 hours of well and facility tests.

The Tawke-17 well, the deepest drilled by the Company in the Tawke field, encountered several Triassic zones that proved either tight or water bearing. Two additional identified reservoir intervals in the Upper Jurassic remain to be perforated and tested."

Tony Hayward, Chief Executive of Genel Energy, said:

"Today's news reinforces the extremely positive first half of 2013 that Genel has had with the drill bit, with the company having three new discoveries in the Kurdistan Region of Iraq in the space of three months. We look forward to working with DNO to determine the full extent of the new discovery."

UBS note today:
"From a technical perspective Genel has had an excellent first half. Positive drilling results at Chia Surkh; Tawke Deep; Ber Bahr and Bina Bawi drive an 18% increase in our 3C NAV. Meanwhile, we feel risks around exports of oil and gas from Kurdistan are starting to diminish and do not see this as reflected in the stock’s discount valuation. The market is also currently ascribing zero value to fast approaching frontier exploration in Morocco (~100% upside) and Malta (~60%).

1) As early as September the converted Khurmala-Dohuk gas pipeline will allow Kurdistan to export an additional 300kb/d directly to Turkey (including 200kb/d from Genel’s Taq Taq field). 2) c.70kb/d of Kurdish oil has been reaching international markets by truck for several months with no apparent payment, legal or political issues. 3) Major IOC’s continue to build positions and foster links with Turkey and the KRG (c.f. Exxon’s deal with TPAO; Chevron drilling).

With Taq Taq and Tawke both hitting peak production capacity next year Genel is well positioned as exports ramp-up. Production grows from 44kboe/d in FY12 to 270kboe/d in FY17E (CAGR: 43%). Low development costs ($2-3/boe) of these conventional onshore barrels should allow its strong balance sheet to be maintained.

Core NAV: £7.26/sh (from £7.02); Core plus Contingent: £12.44/sh (£10.57); Risked: £14.22/sh (£12.09). Target set at 27% discount to NAV (prior 30%)."

July 23 2013, 11:49am

.It is also expected that Genel will drill its first horizontal wells at the Taq Taq field later this year.

Genel Energy (LON:GENL) growing production volumes from horizontal drilling in Kurdistan is exciting news, according to investment banking heavyweight UBS.

It revealed yesterday, by operator DNO, that the first horizontal well on Genel's 25% owned Tawke field produced 2.5 times more oil than the field's most productive vertical well.

The TK-20 well flowed at an equipment constrained 25,000 barrels a day, compared to a prior field record of 10,000 barrels.

Another two horizontal wells are now planned by DNO at Tawke, meanwhile it is also expected that Genel will drill its first horizontal wells at the Taq Taq field later this year.

According to UBS analyst Daniel Ekstein horizontal drilling could help add more than 200mln barrels of ‘possible’ reserves to Genel’s current 445mln barrels of ‘proved and probable’ reserves.

“The first horizontal wells were drilled in the 1920s but became more prevalent from the late 1980s. The technique is now commonly used to optimise drainage of fractured carbonate reservoirs such as those in Kurdistan,” Ekstein said in a note.

“The frantic early days of the Kurdish oil sector meant more rudimentary, cheaper and quicker approaches were adopted.

“As the industry moves into the development phase operators are increasingly focussed on application of more sophisticated technologies (advanced 3D seismic; directional and horizontal drilling; acid and hydraulic fraccing)."

Saturday, July 27th 2013

WHAT'S WORTH OWNING

Genel Energy (LON:GENL)

We can't get enough of Anglo-Turkish Genel, which is advancing like a hurricane in Kurdistan (discovery after discovery and amazing drilling success), and also faring nicely in Africa. Shares in the company have advanced almost 50% over the past year on success in Kurdistan, and now it's about to hit the roof as its crude oil pipeline nears completion and is slated to start pumping crude to Turkey by the end of September. There is a short window of opportunity here to get in while this is still a bit undervalued. (And there are a number of undervalued stocks operating out of Kurdistan).

Genel is the largest producer in Iraqi Kurdistan, and its holdings are impressive. We're talking about 7 production-sharing contracts with some nice geological diversity. Its largest producing fields in Kurdistan are Taq Taq and Tawke, which have an estimated gross proven and probable reserves of 1.4 billion barrels of oil and gross proven and probable reserves of 1.9 billion barrels. By 2014, Genel is aiming for a production capacity of 140,000 net bopd.

http://en.mercopress.com/2013/07/27/six-key-oil-gas-discoveries-of-2013-who-s-worth-owning

http://www.investegate.co.uk/genel-energy-plc--genl-/rns/half-yearly-report/201307310700115294K/

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