Genel Energy - GENL Stream Log

I was really bullish on this stock due the value of its assets, and the interesting geographic position to gas-hungry Turkey. I was never worried about IS (airbombings by US started when IS came to close to oil reservoirs), nor about the tensions between Turkey and the PKK (The turks might hate the Kurds but they are not stupid, Kurdish gas is almost 3x as cheap as Russian gas and will provide more flexibility for the Turks. Furthermore Erdogan and his family make a lot of money through this relationship). However, with the oil prices staying low for a long time to come (unless supply disruptions in Middle east push POO up again) due to the American shaleproducers (whom will use every bounce in POO to hedge production), the KRG simply cannot pay the oil companies. Also, it seems international support for the Kurds is waning after lots of negative media coverage; Apparantly weapons delivered by the Germans were being put up for sale in local Kurdish markets, entire villages were being burned down after IS rebels were forced out of the villages and this lead to a lot of criticism from the likes of Amnesty, etc! Furthermore the political problems with the presidency in Kurdistan dont help. Therefore you see that every bounce in the share price is being used to sell; when the POO goes down so goes Genel, but when the POO goes up the shareprice of Genel doesnt!

Re: Joined up The price action in this share has been very depressing for months now, because every bit of strength in the shareprice is being used to dump stock in the market. This is already going on for a long time, and after a spike up the price is getting pushed down with very little volume. There just arent a lot of institutional parties that will buy a share like this, so I agree with The Milipede that when a big holder wants to sell, it takes a lot of time and probably the shares get sold the BB readers here

This share has been the worst nightmare of all my investments, nobody else to blame but myself obviously. Have been a holder for quite a while, but continued to be quite optimistic! However this optimisme has totally disappeared and I am wondering what everybody his opinion is here. The oil price is uncertain, but even if the oil price goes back up towards 40-50 then the KRG still has financial problems that will not solve quickly. The kurds are not being supported financially by the international community and unfortunately this will not happen anytime soon. Big holders are selling out, other large shareholders are not adding positions. Management has relatively little exposure and are not adding! Etc, Etc.....it is very very cheap on an EV/reserves base but then a company needs to get fully paid for its oil and that will not happen anytime soon. A lot has been written about potential M&A value, but the major oil companies are not interested and certainly not now that the Iran market is opening up! To make a long story short.....what is going to put this shareprice higher because lately the shareprice has been weak even as the oilprice stabilised or went up!

nice artlicle on genel energy interests [link]

Boyobach, would you be so kind to provide us with a link of this news? I cant find anything about this on KRG/MNR website!

wow, thats quick because litterally half an hour ago his name was still on the website but they have deleted it now!

How can we find out whether the loan news is really true? I guess its on arabian news sites, but unfortunately I dont speak or read Arabian. Because if this is true it would be major news! I would want to buy all the shares I can get my hands on in that case....

Zorsupas...I can imagine the bearish stance, nothing wrong with that. But lets please stay with the facts here. The statement for november payments is on paper, so there is no denying there. Also, most of the Genel oil flows through pipelines and the trucks that were bombed were in ex-Syrian territory. Unfortunately I have to agree though that november export figures will be bad, which can also be seen at DNO's statement yesterday that the current production lies 50bpd under peak this year.

I am also curious about opinions of fellow investors. I have mixen feelings as there is little information about new africa global energy!

Also, I have heard several stories about ex-chairman Sepil will be involved in the gas Midco, can anyone here confirm this? that would be a catalyst for the share price of Genel I think, but again any clarity is much needed!