Genel Energy Trading and Operations Update

GUIDANCE AND OUTLOOK

• Following production performance at both Taq Taq and Tawke for the nine months ending 30  September 2016, and the near-term activity outlook for both fields, 2016 production is now expected  to be at the lower end of the previously communicated 53-60,000 bopd guidance range
• Capital expenditure for 2016 is now expected to be below the previously communicated range of $90- 110 million. This is largely due to the refined development programmes at Taq Taq and Tawke, as well  as lower forecast spend on Miran and Bina Bawi and the remainder of the portfolio
• Based on the revised production and capital expenditure guidance above, 2016 revenue is now  expected to be at the lower end of the previously communicated $200-230 million guidance range
• Production and G&A cost guidance are maintained at $1.50-1.75/bbl and c.$25 million respectively
• As previously announced, the Company intends to produce an updated Competent Persons Report for  the Taq Taq field in Q1 2017

(Source: Genel Energy)