By John Lee. Genel Energy has said it that it will continue shipping crude oil from Iraqi Kurdistan, following confirmation from the KRG that it has finally received an initial payment from Baghdad. Despite Iraq's finance ministry issuing an initial payment early last week, by Friday the funds had still not landed in the KRG account, […]
By John Lee. Genel Energy has announced that the Chia Surkh 10 exploration well was spudded on 7th October 2012. The Chia Surkh 10 well is the first exploration well to be drilled on the Chia Surkh exploration block whichcovers an area of 984 square kilometres in the southern part of the Kurdistan Region of […]
By John Lee. Baghdad and Erbil both have too much at stake not to settle their dispute over oil, although they may take a year or so to do it, Genel Energy Chief Executive Tony Hayward (pictured) told Reuters. "The scale of the opportunity for Kurdistan and for Iraq is so large that there will […]
By John Lee. Genel Energy, the London listed exploration and production company and largest independent oil producer in the Kurdistan Region of Iraq, has announced its half year results for the six months to 30 June 2012. Shares in the company closed at 700p on Thursday, up just 0.8%. Highlights Expanded our position as the […]
By John Lee. Shares in Heritage Oil closed up 12.3% on Tuesday following the announcement that it will sell part of its Miran Block in Kurdistan and borrow money from Genel Energy to raise $450 million to fund oilfield purchases in Nigeria. The comany will sell a 26 percent stake in the block to Genel and […]
By John Lee. Genel Energy has increased its commitment to oil exploration in Iraqi Kurdistan with the announcement that it has agreed to acquire an additional 26 per cent interest in the Miran exploration block from Heritage Oil. The announcement comes just a day after the Kurdistan Regional Government's Oil and Gas Council approved the […]
By John Lee. Like good comedy, the secret of good investment is often said to be timing. Someone buying shares at the end of June in Heritage Oil, which has interests in Iraqi Kurdistan, may have had reason to be concerned if they planned to sell shortly afterwards, as the shares were suspended in early July […]
Just days after agreeing to re-start oil exports from the Kurdistan region, Ashti Hawrami (pictured), the KRG's Minister of Natural Resources, said the region would halt oil exports at the end of the month if Baghdad does not make all outstanding payments to companies working in the oil sector in the region by that time. […]
Genel Energy has announced that it has agreed to acquire an additional 21 per cent interest in the Bina Bawi exploration block in the Kurdistan Region of Iraq from Hawler Energy Ltd for $240 million, to be paid from the Company's existing cash resources. The Transaction is in addition to the Company's acquisition of an […]
By John Lee. Genel Energy has issued the following announcement on its Bina Bawi acquisition in Kurdistan: On 14 May 2012, Genel Energy plc ("Genel Energy") announced that it intended to acquire a 23 per cent interest in the Bina Bawi exploration licence. The acquisition was to be made through the purchase of all of […]
DNO International, operator of the Tawke license in the Kurdistan Region of Iraq, has today issued an update on operations: DNO has completed testing of the Peshkabir-1 well and is preparing to submit a discovery notice pursuant to the terms of the production sharing contract covering the Tawke license. Drilled to a total depth of […]
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