We are reiterating our Speculative Buy recommendation on Genel Energy with a target price of £5.20 following the Company’s publication of its 3Q15 IMS. With further investments in Kurdistan being suspended until there is more confidence in the regularity of export payment, production at Taq Taq and Tawke is declining fast. While the Company is already reducing its production guidance for FY15 from 90-100 mbbl/d to 85-90 mbbl/d, we are also reviewing our production forecast to &ldq
21 Oct 2015
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Back to Politics Again?
Genel Energy PLC (GENL:LON) | 84.1 0 0.0% | Mkt Cap: 235.0m
- Published:
21 Oct 2015 -
Author:
Stephane Foucaud -
Pages:
4
We are reiterating our Speculative Buy recommendation on Genel Energy with a target price of £5.20 following the Company’s publication of its 3Q15 IMS. With further investments in Kurdistan being suspended until there is more confidence in the regularity of export payment, production at Taq Taq and Tawke is declining fast. While the Company is already reducing its production guidance for FY15 from 90-100 mbbl/d to 85-90 mbbl/d, we are also reviewing our production forecast to &ldq