Remove ads

Introducing the LemonFools Personal Finance Calculators

Genl

youfoolishboy
2 Lemon pips
Posts: 202
Joined: November 4th, 2016, 11:35 am
Has thanked: 14 times
Been thanked: 32 times

Genl

#56681

Postby youfoolishboy » May 30th, 2017, 9:07 am

Anyone have a view on the massive jump[ at Genl apart from the obvious that there were some very chunky buys last week?
The 2 options I can think of are the obvious a bid or someone buying in as they are about to announce a partnership to develop the very large gas assets.
For the takeover I am not convinced as there is still no guarantee the KRG are going to pay the significant debt they owe or even keep paying the monthly installments so a takeover would seem premature unless some of course another company is closer to the KRG.
I feel the announcement of a new partner is the more obvious conclusion.
Views?

Bink333
2 Lemon pips
Posts: 159
Joined: March 3rd, 2017, 10:39 am
Has thanked: 224 times
Been thanked: 221 times

Re: Genl

#77951

Postby Bink333 » August 30th, 2017, 4:13 pm

youfoolishboy wrote:Anyone have a view on the massive jump[ at Genl apart from the obvious that there were some very chunky buys last week?
The 2 options I can think of are the obvious a bid or someone buying in as they are about to announce a partnership to develop the very large gas assets.
For the takeover I am not convinced as there is still no guarantee the KRG are going to pay the significant debt they owe or even keep paying the monthly installments so a takeover would seem premature unless some of course another company is closer to the KRG.
I feel the announcement of a new partner is the more obvious conclusion.
Views?


As a small holder, that doesn't pay much attention to the day to day excitement than can come from holding such an 'exciting' stock, I was intrigued to see an email notifying me of some Foolish twittering about shorting the stock.

https://twitter.com/timkempster/status/902805707589865472?t=1&cn=ZmxleGlibGVfcmVjc18y&refsrc=email&iid=63e643be62a744c6baad2685e2e5461c&uid=301412247&nid=244+272699393

I note that GENL is trading at its highest price since December 2015 (not long after I acquired (catching falling knives is never a precise science) - hoping for a bit of recovery long term along with oil price increases) and is up 4% today. Undoubtedly there's an awful lot of people that know a great deal more than I do about this.

A bit of DYOR via twitter:-

There's a silly chartist chart here... https://in.tradingview.com/chart/GENL/2ogajaax-GENEL-ENERGY-Great-Potential/

Positive news here:- https://www.investegate.co.uk/genel-energy-plc--genl-/rns/definitive-receivables-agreement-reached-with-krg/201708240854128750O/

Share Prophets (hard to trust with a name like that) has issued a long-term 'hold' (eek!) and stockflareuk tweeted that the EPS had doubled over the last week to yesterday, after tweeting that GENL was a 0 star stock on July 21st.

WShak (ex-Fool & trustworthy) tweeted that they have net assets of £1.1bn, Mkt Cap £437m (and a Gas deal)....

That's sounds OK to me, think I'll go back to sleep on GENL.

youfoolishboy
2 Lemon pips
Posts: 202
Joined: November 4th, 2016, 11:35 am
Has thanked: 14 times
Been thanked: 32 times

Re: Genl

#78017

Postby youfoolishboy » August 30th, 2017, 9:03 pm

'Genel Energy plc ('Genel' or 'the Company') is pleased to announce a definitive agreement with the Kurdistan Regional Government ('KRG') relating to unpaid entitlements for past oil sales from the Taq Taq and Tawke fields.'

That statement is the reason for the rise.

youfoolishboy
2 Lemon pips
Posts: 202
Joined: November 4th, 2016, 11:35 am
Has thanked: 14 times
Been thanked: 32 times

Re: Genl

#111801

Postby youfoolishboy » January 19th, 2018, 8:58 am

Upgrade in gas resources sending the share upwards today. Hugely undervalued due to political problems between Iraqi govenment and KRG but they seem to be getting together and hopefully an agreement will be reached this year then this could rerate rapidly. DYOR

http://otp.investis.com/clients/uk/gene ... sid=968312

dspp
Lemon Quarter
Posts: 2247
Joined: November 4th, 2016, 10:53 am
Has thanked: 1204 times
Been thanked: 368 times

Re: Genl

#111810

Postby dspp » January 19th, 2018, 9:30 am

1) They have struggled to get paid in the past. Has this really changed ?
2) They have struggled to get oil (and gas) to market westwards. Again, has this really changed ?
3) And that is before we get to the subsurface issues.
- dspp

youfoolishboy
2 Lemon pips
Posts: 202
Joined: November 4th, 2016, 11:35 am
Has thanked: 14 times
Been thanked: 32 times

Re: Genl

#111823

Postby youfoolishboy » January 19th, 2018, 10:22 am

Payments are being made regularly but with the political solution with Iraqi government responsibly for payments will then fall to them and i trust them more than the Kurds to make payments. I dont think deveolping the gas field will be an issue as i expect them to be bought out before then.
Lots of risks still but well under priced a political solution will bring a good rise I hope and I will probably take profits then rather than hang about and see the problems surface.

youfoolishboy
2 Lemon pips
Posts: 202
Joined: November 4th, 2016, 11:35 am
Has thanked: 14 times
Been thanked: 32 times

Re: Genl

#138984

Postby youfoolishboy » May 14th, 2018, 1:58 pm

Well they have more than doubled in price since my last post. The political situation remains a little vague due to the election just now but if you look at the assets they are still remarkably undervalued. Whether that value comes out is a interesting point as I suspect they will be bought long before they develop the gas assets. I still hold and am getting itchy to sell but could still be a fair bit to go. Anyone hold here, or not, with a view?

petroleum1
Lemon Pip
Posts: 54
Joined: November 5th, 2016, 8:44 pm
Has thanked: 2 times
Been thanked: 11 times

Re: Genl

#139332

Postby petroleum1 » May 16th, 2018, 10:52 am

youfoolishboy
Have lost £10,000 on GPX thinking the war will stop in Syria. How this will play for GENL with Iraq the new election with hardliners coming to power, god only knows. Regards

youfoolishboy
2 Lemon pips
Posts: 202
Joined: November 4th, 2016, 11:35 am
Has thanked: 14 times
Been thanked: 32 times

Re: Genl

#139605

Postby youfoolishboy » May 17th, 2018, 4:07 pm

Reading the Kurdish news websites it appears they are good buddies with Sadr

http://www.rudaw.net/english/analysis/16052018
'The unlikely victory of outspoken Shiite leader Muqtada al-Sadr — beating out rivals Haider al-Abadi and Nouri al-Maliki — brought a glimmer of hope to Kurdish leadership that he would be the right Iraqi leader to deal with. Sadr staunchly opposes the abuse of power and mismanagement by the Dawa Party that has ruled post-Saddam Iraq since 2003 and was unwavering in its policies and mismanagement even prior to that........
Sadr has also said that the new Iraqi government's structure shouldn't be sectarian, unlike Maliki's State of Law and Abadi's Nasr (Victory) Coalition which have floated the idea of majoritarianism rule in Shiite-dominated Iraq. Both had lackluster performances in the election on May 12.'

The future looks rosey just now. After the PM is selected, 6 months they reckon, negotiations can begin with the Kurds over how much of the Iraqi budget the government will give the Kurds and how they will take away their oil revenues in return. If they are backing Sadr in coalition they will get a good deal which means they will be able to continue the payments for those that were missed in the past to oil companies and with the Iraqi government in charge of future payments to oil companies there is more security of payment. Add in the very positive AGM statement from the company today and I am struggling to see the down side right now.


Return to “Oil & Gas & Energy (Sector & Companies)”

Who is online

Users browsing this forum: No registered users and 1 guest