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
28-Jul-2021 / 08:30 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
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28 July 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 ('KRG') relating to oil sales during May 2021.
Genel's share of those payments is as follows:
(all figures USD million) Payment
Tawke 13.6
Tawke override 8.3
Taq Taq 2.0
Sarta 3.0
Receivable recovery 3.5
Total 30.4
Following the receipt of the receivable recovery payment, Genel is now owed USD141 million from the KRG for oil sales from November 2019 to February 2020 and the suspended override from March to December 2020.
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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.: 118635 EQS News ID: 1222207 End of Announcement EQS News Service =------------------------------------------------------------------------------------ Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1222207&application_name=news
(END) Dow Jones Newswires
July 28, 2021 03:30 ET (07:30 GMT)
