Market Reaction: Negative. The anticipation of a payment of US$24.5 mm for export is encouraging. However, the reduction of production at Taq Taq and Tawke in the current uncertain political context in Kurdistan is a concern to us. We appreciate this is likely to be a way to put pressure on Erbil to boost payment and ensure repeatability and predictability of such payments.
20 Oct 2015
3Q15 IMS - FY15 PRODUCTION GUIDANCE DOWN ON EXPORT PAYMENT
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3Q15 IMS - FY15 PRODUCTION GUIDANCE DOWN ON EXPORT PAYMENT
Genel Energy PLC (GENL:LON) | 83.6 -0.1 (-0.1%) | Mkt Cap: 233.4m
- Published:
20 Oct 2015 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Negative. The anticipation of a payment of US$24.5 mm for export is encouraging. However, the reduction of production at Taq Taq and Tawke in the current uncertain political context in Kurdistan is a concern to us. We appreciate this is likely to be a way to put pressure on Erbil to boost payment and ensure repeatability and predictability of such payments.