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Genel Energy PLC (GENL)
Genel Energy PLC: Tawke PSC reserves update
11-Feb-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
11 February 2019
Genel Energy plc
Tawke PSC reserves update
Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC
(Genel 25% working interest), has today issued an update on forecast
reserves on the licence in the Kurdistan region of Iraq:
According to international petroleum consultants DeGolyer and MacNaughton,
who carried out the annual independent assessment of the Tawke PSC, on a
gross basis year-end 2018 1P reserves stood at 348 MMbbls, unchanged from
2017 after adjusting for production of 41 MMbbls and upward technical
revisions of 41 MMbbls.
Tawke licence 2P reserves stood at 502 MMbbls (513 MMbbls in 2017) and
proven, probable and possible (3P) reserves at 697 MMbbls (880 MMbbls in
2017).
Broken down by field, Tawke field gross 1P reserves stood at 294 MMbbls (335
MMbbls in 2017), 2P reserves at 376 MMbbls (438 MMbbls in 2017) and 3P
reserves at 477 MMbbls (588 MMbbls in 2017).
Peshkabir field gross 1P reserves stood at 54 MMbbls (13 MMbbls in 2017), 2P
reserves at 126 MMbbls (75 MMbbls in 2017) and 3P reserves at 220 MMbbls
(292 MMbbls in 2017).
-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 c
ompany 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: MSCM
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 7429
EQS News ID: 774223
End of Announcement EQS News Service
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February 11, 2019 02:02 ET (07:02 GMT)
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