Market Reaction: neutral. While production guidance in 2016 is below our expectations this is offset by a much lower level of spending. We carried Ber Bahr at £0.06 per share. In the context of current commodity prices and assuming sustained payment from the KRG at current levels, Genel would have a stable balanced sheet with over US$450 mm cash and a balanced budget in 2016. The main risk remains geopolitics and development in the region.
20 Jan 2016
4Q15 IMS
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4Q15 IMS
Genel Energy PLC (GENL:LON) | 102 0 0.0% | Mkt Cap: 283.6m
- Published:
20 Jan 2016 -
Author:
Stephane Foucaud -
Pages:
2
Market Reaction: neutral. While production guidance in 2016 is below our expectations this is offset by a much lower level of spending. We carried Ber Bahr at £0.06 per share. In the context of current commodity prices and assuming sustained payment from the KRG at current levels, Genel would have a stable balanced sheet with over US$450 mm cash and a balanced budget in 2016. The main risk remains geopolitics and development in the region.