oceanfree
13 Feb 2017
Re: Miran, Bina Bawi RNS I thought someone else (the Turks?) was paying directly for the gas? 500M$ a year - will the KRG pay or not?
Boyobach
13 Feb 2017
Re: Miran, Bina Bawi RNS Could be, of course, Clarence, but it was trading at 257 just 14 months ago and the reported outlook - except for Taq Taq - is much better and closer to realisation now than it was then. Getting back to that sp level is not exactly demanding if they make best use of the resources they have. I got fairly criticised for calling 100p when it first dropped to 200p, wish I'd been wrong about that. Whatever happens, it should be good for trading meantime. If they are smart they'll be timing some more good news for release on March 30th - they need a positive statement then if there's to be any momentum. If that statement is poor then your gloom will be well justified
Clarence Beaks
13 Feb 2017
Re: Miran, Bina Bawi RNS Do me a favour, its years off such prices if ever again.
Boyobach
13 Feb 2017
Re: Miran, Bina Bawi RNS With steady progress regarding the gas AND payments (including progressive reduction of backlog), I reckon the sp could now gradually recover to the 250p - 300p level. It'll probably be slow - Genel has used up all the confidence it ever generated.
Mr-W
13 Feb 2017
Re: Miran, Bina Bawi RNS Anyone got time to crunch those numbers and work out kind of money genel will receive at those prices for those volumes? P. S. Nice to have some good news for a change
Boyobach
13 Feb 2017
Re: Miran, Bina Bawi RNS The main terms agreed with the KRG for the sale of raw gas from Miran and Bina Bawi are as follows: Under each GLA, Genel is committed to deliver gas at contracted quantities for a period of12 years. This will consist of a 2 year Build-up Period and 10 year Plateau Period (the AnnualContract Quantity, or ACQ) at the following volumes
Bina Bawi 2 year Build-up Period: 350 – 700 mmscfd 10 year Plateau Period: 700 mmscfdo Miran 2 year Build-up Period: 250 – 500 mmscfd 10 year Plateau Period: 500 mmscfd After the 10 year plateau period, Genel will supply gas volumes equal to or less than theprevious year until the end of the development period, which it may nominate itself The KRG is committed to buying Genel’s gas via a take-or-pay arrangement where it isobliged to buy a minimum annual quantity (80% of the ACQ) Genel will receive a fee of $1.20 per thousand cubic feet for the raw gas delivered into thegas treatment facilities. The raw gas fee includes a provision for inflation adjustment-
Boyobach
13 Feb 2017
Miran, Bina Bawi RNS Good news in today's RNS:Murat Özgül, Chief Executive of Genel, said: "We are very pleased to have signed definitive agreements for our gas project and are now focused on the next step of concluding negotiations with potential partners, and moving the gas project towards the FID. We are determined that 2017 will be a watershed year as we seek to create a gas business that will be transformational for both Genel and the KRG."
oilinvestor85
09 Feb 2017
Re: bought Apologies guys for using the old heading to respond to Clarence and JDS
oilinvestor85
09 Feb 2017
Re: DNO Results Agreed ! The DNO results have been very good ! Hence the rise here ... Tawke is a gem! Shame the same can't be said about taq taq
oilinvestor85
09 Feb 2017
Re: brought One other thing oily - how come you keep putting me down of late? Do you enjoy kicking people when they're down?We used to be iii friends.....CB---------- -CB I thought it was friendly advice ... hopefully you haven't taken it the wrong way... a few years ago I read a book called "come into my trading room" by Dr Alexander Elder. The one thing he kept on saying is "whenever you have a bad streak you need to stop and re assess" and "diversify diversify diversify"! "Never lose more than 6% of your account in one share"!!! "Never lose more than 2% in a single month" and "ALWAYS ALWAYS ALWAYS place a stop loss"! It could save your investment portfolio! Apologies if it came across in the wrong way but I'm being serious if you are constantly and consistently losing money, you need to step back and use a dummy trade account/ paper trade for a few months. Meanwhile, assess the situation and read up on investing. Find out where you have been going wrong!Once again apologies if my advise seemed harsh .
oilinvestor85
09 Feb 2017
Re: brought "cr50% of my dealing account having moved my HUR holdings to average down AFR.cr90% of my SIPP (though I do have a main company share scheme)"...---------- I must admit you were certainly very ballsy putting 90% of your SIP account in 1 company ! Diversification is something I was also bad at in the past ... now I try to not hold more than 10% of any account in the same company . I typically have between 10-12 holdings in a mixture of sectors (although I still have a soft spot for resource companies)
Boyobach
09 Feb 2017
Re: DNO Results The Stockmarket Wire headline oddly highlights the fall in resources at Tawke - presenting it as a negative story. However, the fall is consistent with the oil that has been lifted. Peshkabir somewhat compensates (see below). It's worth following my link to the full report."The Peshkabir field positions us for production and reserves growth in our Kurdistan portfolio," said Mr. Mossavar-Rahmani, indicating that the Cretaceous discovery added 47.9 million barrels of oil equivalent (MMboe) of gross 2C resources.
theprior
09 Feb 2017
Re: bought Just looking in following a series of good news stories (particularly about payments being received) and I can't help observing that Genel seems to be rising nicely from it's all time low. To think this share was once 1100p ! ( Only once mind !)Poor decisions, collapse of oil price, poor payers, etc,etc,etc have clearly decimated the sp over recent years.But, perhaps now, with regular payments coming through, and good reserves in producing fields, the company can at last begin to claw back its reputation (and its sp).I'm buying into the recovery story here, hope it comes off !
Boyobach
08 Feb 2017
Re: bought There you are Johan, irritating wasn't it?I never contributed to the thread so couldn't be asked..Interesting that it started with Ripley shelling out 614. I'm not taking the mickey though because Genel has cost me a fair bit since the early days! I doubt I'll ever see it all back.
Johandesilva
08 Feb 2017
Re: brought This thread started early in 2015. I know I am extremely poor at spelling and grammar but seriously! Did no one think to correct the title over the years!
