Dow Jones received a payment from EQS/DGAP to publish this press release.
Genel Energy PLC (GENL)
Genel Energy PLC: Update on Tawke PSC
07-Feb-2019 / 07:16 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
7 February 2019
Genel Energy plc
Update on Tawke PSC
Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC
(Genel 25% working interest), has today issued an update on licence
activity:
Gross production from the Tawke license, containing the Tawke and Peshkabir
fields, averaged 113,041 bopd during 2018. Cumulative Peshkabir field
production approached 10 million barrels, less than 18 months after coming
onstream. Cumulative Tawke field production since inception totalled 255
million barrels at year end 2018.
Peshkabir production from six wells averaged 54,000 bopd in January 2019.
The Peshkabir-9 well has been completed and is to be placed on production
later this month. The Peshkabir-10 well is due to spud in mid-February as
part of the 2019 field drilling campaign of up to four wells.
In January 2019 Tawke production averaged 74,000 bopd. Three wells were
completed in Q4 2018 with the Tawke-52 Cretaceous well due to come onstream
shortly.
An active 2019 Tawke drilling programme is planned by the operator of up to
14 new wells, of which 10 are currently approved as firm, in the Cretaceous
and Jeribe reservoirs to stabilise production.
The operator has also identified the potential to add reserves through
appraisal and exploration, possibly including a deep Tawke well.
-ends-
For further information, please contact:
Genel Energy +44 20 7659 5100
Andrew Benbow, Head of Communications
Vigo Communications +44 20 7390 0230
Patrick d'Ancona
Notes to editors:
Genel Energy is an independent oil and gas exploration and production
company listed on the main market of the London Stock Exchange (LSE: GENL,
LEI: 549300IVCJDWC3LR8F94). The Company, with headquarters in London and
offices in Ankara and Erbil, is one of the largest London-listed independent
oil producers, and is the largest holder of reserves and resources in the
Kurdistan Region of Iraq. Genel has highly cash-generative oil production
from the Taq Taq and Tawke licences, with material growth potential from
other assets in the portfolio. Genel also continues to pursue further growth
opportunities. For further information, please refer to www.genelenergy.com
[1].
ISIN: JE00B55Q3P39
Category Code: MSCU
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 7404
EQS News ID: 773493
End of Announcement EQS News Service
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=3ec46b352f38452116096dbbab51b09e&application_id=773493&site_id=vwd_london&application_name=news
(END) Dow Jones Newswires
February 07, 2019 02:17 ET (07:17 GMT)
© 2019 Dow Jones News
