Genel Energy PLC (GENL)
Genel Energy PLC: Update on Qara Dagh PSC
22-Oct-2019 / 07:00 GMT/BST
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The issuer is solely responsible for the content of this announcement.
22 October 2019
Genel Energy plc
Update on Qara Dagh PSC
Genel Energy plc ('Genel' or 'the Company') is pleased to announce the
signing of a contract with Parker Drilling for the drilling of the QD-2 well
on the Qara Dagh field (Genel 40% working interest, operator), in the
Kurdistan Region of Iraq.
The QD-2 well will test the structural crest 10 km to the north-west of the
QD-1 well, which tested sweet, light oil from Cretaceous carbonates. The
Parker-269 rig has been contracted to drill the well.
Civil construction works for the well pad and camp are now underway, and the
well is on track to spud in H1 2020.
Unrisked gross mean resources at Qara Dagh are currently estimated by Genel
at c.200 MMbbls.
-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: MSCM
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 24126
EQS News ID: 893677
End of Announcement EQS News Service
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(END) Dow Jones Newswires
October 22, 2019 02:00 ET (06:00 GMT)
