Market Reaction: Positive. This supports previous indications by industry participants and is a step in the right direction. However, maintaining material and recurrent payment remains key to the rerating of the shares. Assuming 30% of the overall U$75-100 mm is allocated to Genel would suggest US$25-33 mm revenue for Genel representing 9-12% of the overall revenue guidance for 2015 (assuming 70% of revenue is for export). There have been a few false starts in the past.
27 Aug 2015
THE KRG HAS ALLOCATED US$75-100 MM TO PAY IOCS IN SEPTEMBER
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THE KRG HAS ALLOCATED US$75-100 MM TO PAY IOCS IN SEPTEMBER
Genel Energy PLC (GENL:LON) | 64.5 -2.6 (-5.9%) | Mkt Cap: 180.2m
- Published:
27 Aug 2015 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: Positive. This supports previous indications by industry participants and is a step in the right direction. However, maintaining material and recurrent payment remains key to the rerating of the shares. Assuming 30% of the overall U$75-100 mm is allocated to Genel would suggest US$25-33 mm revenue for Genel representing 9-12% of the overall revenue guidance for 2015 (assuming 70% of revenue is for export). There have been a few false starts in the past.