Gross 2P Reserves at Taq Taq have been reduced from c. 540 mmboe at the end of 2014 to 172 mmboe at the end of 2015. The reduc on is much more dras c than we an cipated. Genel has put in place a programme to try to recover some of the “lost reserves”. FY16 overall produc on guidance remains 60-70 mbbl/d. Gross produc on at Taq Taq for 2017 and 2018 is es mated at 65-75 mbbl/d and 50-70 mbbl/d, respec vely. We have reduced our ReNAV for Genel from £3.41 to £3.11 per sha
01 Mar 2016
Reserves Downgrade at Taq Taq
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Reserves Downgrade at Taq Taq
Genel Energy PLC (GENL:LON) | 84.0 -1.2 (-1.6%) | Mkt Cap: 234.8m
- Published:
01 Mar 2016 -
Author:
Stephane Foucaud -
Pages:
6
Gross 2P Reserves at Taq Taq have been reduced from c. 540 mmboe at the end of 2014 to 172 mmboe at the end of 2015. The reduc on is much more dras c than we an cipated. Genel has put in place a programme to try to recover some of the “lost reserves”. FY16 overall produc on guidance remains 60-70 mbbl/d. Gross produc on at Taq Taq for 2017 and 2018 is es mated at 65-75 mbbl/d and 50-70 mbbl/d, respec vely. We have reduced our ReNAV for Genel from £3.41 to £3.11 per sha