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WKN: A1JBXU ISIN: JE00B55Q3P39 Ticker-Symbol: 4VL 
Tradegate
23.09.21
11:49 Uhr
1,430 Euro
0,000
0,00 %
1-Jahres-Chart
GENEL ENERGY PLC Chart 1 Jahr
5-Tage-Chart
GENEL ENERGY PLC 5-Tage-Chart
RealtimeGeldBriefZeit
1,4501,49025.09.
1,4501,47024.09.
Dow Jones News
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Genel Energy PLC: Receipt of payments for KRI oil sales

DJ Genel Energy PLC: Receipt of payments for KRI oil sales

Genel Energy PLC (GENL) 
Genel Energy PLC: Receipt of payments for KRI oil sales 
13-Apr-2021 / 09:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
13 April 2021 
 
Genel Energy plc 
 
Receipt of payments for KRI oil sales 
 
Genel Energy plc ('Genel' or 'the Company') announces that payments have been received from the Kurdistan Regional 
Government for oil sales during February 2021. 
 
Genel's share of those payments is as follows: 
 
(all figures USD million) Payment 
Tawke          11.4 
Tawke override      6.9 
Taq Taq         1.9 
Sarta          1.6 
Receivable recovery   5.4 
Total          27.2 

Under the Tawke override payment mechanism, Genel receives 4.5% of monthly Tawke gross field revenues.

The receivable recovery payment relates to unpaid invoices from 2019 and 2020. For each cent above a monthly dated Brent average of USD50/bbl, 0.5 cents per paying interest barrel produced will be paid towards monies owed.

As noted today by DNO ASA, operator of the Tawke PSC (Genel 25% working interest), following resumption of payments the partners have stepped up drilling of new wells at Peshkabir and workovers of existing wells at Tawke in 2021, raising gross operated licence production from an average of 110,300 bopd in 2020 to 110,900 bopd in January, 112,000 bopd in February, 113,100 bopd in March and 115,500 bopd month-to-date in April.

-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 a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com. -----------------------------------------------------------------------------------------------------------------------

ISIN:     JE00B55Q3P39, NO0010894330 
Category Code: MSCM 
TIDM:     GENL 
LEI Code:   549300IVCJDWC3LR8F94 
Sequence No.: 98737 
EQS News ID:  1184054 
 
End of Announcement EQS News Service 
=------------------------------------------------------------------------------------ 
 

(END) Dow Jones Newswires

April 13, 2021 04:00 ET (08:00 GMT)

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© 2021 Dow Jones News
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