We have been through a process of reviewing our Genel forecasts and as a result our recommendation on the shares. We now expect production to have fallen significantly in Q4 on the back of reduced CAPEX at Taq Taq and Tawke. Further CAPEX to support and increase production is dependent on export payments – currently under threat due to the fall in oil prices in the last few weeks. We see a risk that if payments are interrupted it could hit investment and importantly cause further produc
22 Dec 2015
Challenges mounting up
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Challenges mounting up
Genel Energy PLC (GENL:LON) | 84.8 -4.9 (-6.4%) | Mkt Cap: 236.8m
- Published:
22 Dec 2015 -
Author:
Daniel Slater, CFA -
Pages:
8
We have been through a process of reviewing our Genel forecasts and as a result our recommendation on the shares. We now expect production to have fallen significantly in Q4 on the back of reduced CAPEX at Taq Taq and Tawke. Further CAPEX to support and increase production is dependent on export payments – currently under threat due to the fall in oil prices in the last few weeks. We see a risk that if payments are interrupted it could hit investment and importantly cause further produc