Genel Energy PLC (GEGYF) - OTCPK - Current
  • Nov. 30, 2015, 10:40 AM
    • Gulf Keystone Petroleum (OTCQX:GUKYF -7.4%) plunges as a deadline approaches for Kurdistan to make good on a pledge to pay regional oil producers, Bloomberg reports.
    • Gulf Keystone, Genel Energy (OTCPK:GEGYF) and DNO (OTCPK:DTNOF) are awaiting a November payment from the Kurdistan's regional government for the ~300K bbl/day they jointly produce, and failure to pay would undermine the companies’ finances and their ability to expand output.
    • Gulf Keystone says it remains in talks with the KRG and expects the next payment to be in line with those received in September and October.
    | Nov. 30, 2015, 10:40 AM | 2 Comments
  • Sep. 4, 2015, 12:43 PM
    • BP (BP -5.3%) is downgraded to Underperform from Neutral at BofA/Merrill, which foresees a shortfall in free cash flow as the company faces a three-legged “trilemma” in accordance with the need to maintain dividend, credit rating and its reserve basis.
    • BofA projects falling refining markets at European Integrated oil companies, with the decline in the midstream industry expected to be below “mid-cycle levels” by 2016, which will cause companies to cut capex in order to maintain and deliver dividends on time.
    • The firm prefers exposure to Lundin Petroleum (OTCPK:LNDNF) and Genel (OTCPK:GEGYF) due to the high quality of their exploration and production sectors.
    | Sep. 4, 2015, 12:43 PM | 15 Comments
  • Aug. 3, 2015, 10:48 AM
    • Shares of Gulf Keystone (OTCPK:GUKYF +20%), Genel Energy (OTCPK:GEGYF +7.1%) and DNO (OTCPK:DTNOF) are surging after the government of Iraqi Kurdistan said it would start paying them for oil exports next month.
    • The Kurdistan Regional Government says it will begin allocating part of revenue from oil exports to producers on a monthly basis from September to cover their running expenses, and may make additional revenue available to the companies to start paying dues for past exports as shipments rise next year.
    • The payments would be the first stable compensation for the companies’ exports, which have been caught for years in a dispute over revenue sharing between the KRG and Iraq’s federal government.
    | Aug. 3, 2015, 10:48 AM
  • Aug. 7, 2014, 10:58 AM
    • Shares in Kurdistan-focused oil producers plunge as Islamic State militants extend their gains in northern Iraq.
    • Shares in Gulf Keystone Petroleum (OTCPK:GUKYF -7%) fell as much as 13% to their lowest level since 2010; the company, which is producing oil from the Shaikan field in Kurdistan, says its operations remain "safe and secure" but has stepped up security at its facilities.
    • Genel Energy (OTCPK:GEGYF -8.3%), headed by former BP boss Tony Hayward and one of the biggest independent oil producers in Kurdistan, also fell sharply; its operations at Taq Taq are more than 60 miles away from the fighting east of Mosul.
    • Shares in Norway's DNO (OTCPK:DTNOF -9.1%), another Kurdistan-focused oil explorer, continue to fall and have lost ~20% of their value this month.
    | Aug. 7, 2014, 10:58 AM | 2 Comments
  • Aug. 4, 2014, 9:55 AM
    • Shares tumble in explorers of oil in Iraq's Kurdistan region after Islamic militants seized two oilfields in the region.
    • DNO International (OTCPK:DTNOF), which produces about two-thirds of its from the Kurdish region, posted its biggest drop in Oslo trading in more than six months; while Genel Energy (OTCPK:GEGYF -1.8%) and Gulf Keystone (OTCPK:GUKYF -3.3%) also are falling sharply.
    • The recent progress made by ISIS in advancing toward Kurdish areas is creating fear among investors, says a Carnegie analyst.
    | Aug. 4, 2014, 9:55 AM
Company Description
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Country: United Kingdom