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Proactive news round-up: Sirius Minerals, CloudTag, Sound Energy ...
A glance at some of the stories on the Proactive newswire today
Company
Genel Energy PLC
LON:GENL
Genel Energy is a socially responsible oil producer with production assets in the Kurdistan Region of Iraq and exploration assets in Oman, Somaliland and Morocco. Genel’s plans for delivery of shareholder value are underpinned by its corporate values and are driven by its strategic goals. Genel’s strategy comprises three objectives designed to build a business with resilient and diversified cash flows that delivers sustainable value to shareholders, and with the aim of restarting the payment of a regular dividend. Objective 1: Strong balance sheet Significant cash balance, appropriate leverage, strategic objectives funded Objective 2: Resilient cash generation Significant 2P reserves, predictable and resilient production, strong and efficient operational performance Objective 3: Investment in new cash flows Well-established and effective process for deal origination and evaluation of production or near-to production assets, cash generative assets with value upside
318 stories · page 3 of 4
Genel Energy to take US$181mln hit amid 65% downgrade to Taq Taq oil reserves
Taq Taq’s production continues to decline, reserves have been culled by 65% and Genel expects to make a US$181mln impairment in its accounts for 2016.
Genel Energy notes latests oil payments from Kurdistan
The latest payment from the Kurdistan authorities close off the invoice related to last June's crude deliveries from northern Iraq.
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Proactive weekly oil and gas news - Angus Energy, SDX Energy, Genel Energy and more
A look at the junior oil and gas market news this week
Genel Energy shares drop on lower output guidance for 2017
Genel forecasts production in the range of 35,000 to 43,000 bopd for 2017, versus 53,000 bopd in 2016.
Investments and investor services
Markets and Theresa May eagerly await Supreme Court’s Brexit decision
Vote or no vote? The Supreme Court will tell us whether Theresa May can trigger Brexit alone.
Gulf Keystone banks latest oil payment from Kurdistan
The Kurdistan based oiler says its still working with the authorities to agree final invoices for the period between May and October 2016.
Archive
Of BT's battles with Ofcom & Sky, and Unilever's face-off with supermarkets
Lots of big names reporting this week including: BHP, Dixons Carphone, easyJet, Diageo, Sky, Unilever and BT
Archive
Proactive news round-up: Orogen Gold, Braveheart Investment, Concepta ...
A glance at some of the stories on the Proactive newswire today
Cairn Energy a ‘top pick’ as Jefferies looks at oil sector outliers
Analyst Mark Wilson says that exploration success or failure is one of the main factors that see stocks deviate from the commodity price trend.
Genel Energy unearths new oil discovery in Kurdistan region of Iraq
DNO and Genel are now considering the possibility of early production from Peshkabir, which is part of the Tawke production share contract area.
Proactive Energy round-up: Hurricane Energy stormed higher this week
Pre-drill estimates for Lincoln suggested it was host to 250 million ‘recoverable’ barrels of crude. Hurricane says after early analysis that figure looks conservative.
Oil production at Genel Energy’s Tawke field ahead of broker estimates
Numis has the stock as a ‘buy’, with a target price of 175p
Tullow Oil deemed ‘too expensive’ by Goldman Sachs
Goldman’s sell rating comes with a 221p price target, suggesting Tullow is about 30% too expensive by the US bank’s estimation.
Tullow Oil shares drop as Numis cuts its rating to sell on valuation grounds
Numis said: “Tullow remains (one of) the market’s preferred ways to play the oil price, however, after recent strong performance we believe the shares have run ahead of themselves”
Tullow Oil needs to unlock value in Kenya with a farm-out - broker
Tullow's partner banked nearly half a billion from a farm-out earlier this year, and Numis says a similar deal could help Tullow fix its balance sheet.
FTSE 100 stocks give up 7,000 level as miners come off on copper warning
FTSE 100 stocks gave up the 7,000 level on Wednesday as mining stocks dragged the market lower
Lloyds and a 'hard' Brexit in focus
Investors will be looking for any comment on a potential 'hard' Brexit in the Lloyds statement
Lloyds Banking and RBS to give post-Brexit vote updates
Britain's banks had enough on their plates already, but the Brexit vote made things more complicated still
GKP investors face serious dilution but there’s good news for Kurdistan oilers
Apparent political progress in Baghdad may prove something of a de-risking factor for Gulf Keystone, but, may also help embolden DNO as it is a major contributor to the Kurdistan’s export volumes.
Risers and fallers: Genel Energy, Telit Communications, Glenwick ...
Main share price risers and fallers in London at 9.30am
Risers & Fallers: Eurasia Mining, French Connection, Genel Energy, Petrel Resources, Rolls-Royce, Vast Resources
Stellar inks joint-venture deal for the Baoulé kimberlite project in Guinea
PREVIEW: Investors look for signs of synergies from Shell's acquisition of BG
To misquote Prince, it’s just another frantic Thursday with around one-sixth of the FTSE 100 companies set to update the market.
Barclays gives thumbs-up to EnQuest in industry review
Barclays said EnQuest may be through the worst of the oil price downturn
Archive
Proactive oil highlights: 88 Energy, Genel Energy, Haydale, Mosman, Union Jack and more
The weekly round up news and updates from the world of oil
London stocks start long weekend early
We all might as well have started the long weekend a day early for all the activity in the UK market today
Proactive news highlights: Atlantis, Edenville Energy, Genel Energy, Netplay, Sirius and more...
Atlantis Resources made great strides, Sirius Minerals is a 'fertiliser juggernaut' of the future and W Resources remains on course.
Genel confirms oil payments from Kurdistan for Tawke field
Around US$50mln was invoiced for April oil sales from the Taq Taq and Tawke field, and so far payments totalling US$27mln have been received.
Genel Energy confirms March crude export payments for Tawke
Genel Energy will receive a pro-rata (i.e. 25%) share of the payments for Tawke, which amount to a total of US$20mln for March.
Archive
Proactive news summary: Akers Biosciences Inc, Cluff Natural Resources PLC, Fastjet PLC and more
Fastjet mulls response to shareholder, Shanta Gold reaches a milestone and BATM was back in the black.
Genel Energy PLC confirms U$55.4mln bond buy-back
Kurdistan based oil producer Genel is buying back the debt back for 63 cents in the dollar.
Genel Energy PLC receives US$24mln for Kurdistan oil exports
Export volumes were impacted by a temporary shut-down of the oil export pipeline through Turkey, due to security concerns and a subsequent explosion.
Archive
The Footsie fades but small caps hold strong
After the bell, J. Sainsbury confirmed it would be pulling the trigger on its bid for Argos-owner Home Retail group.
Herencia Resources among the gainers as small caps head higher
FTSE AIM 100 gained 0.55% to 3,321 and FTSE AIM All share gained 0.35% to 707.700....
Risers & fallers: Sports Direct PLC, Infrastrata PLC, Hellenic Carriers PLC ...
Main share price risers and fallers in London at 2.00pm
Genel Energy a highlight as stocks advance
A proposed buy-back of bonds and a revised reserves estimate has done wonders for Genel's share price, but airing of dirty laundry has hit Fastjet
Genel Energy PLC boosted as it reveals debt buy-back plan
Genel intends to buy back at least $50mln of the $730mln bond series.
Investments and investor services
G4S Plc and Restaurant Group Plc downgraded by brokers
G4S Plc, Restaurant Group, Firestone Diamonds, Gem Diamonds and Genel Energy, Cairn Energy, Pridential, and Whitbread are all in Thursday’s broker spotlight.
Investments and investor services
Admiral Group Plc boosted by big Nomura upgrade
Admiral Group Plc, RSA Insurance Group Plc, Barclays Plc, Meggit Plc, Genel Energy Plc and Fastjet Plc were all in Tuesday’s broker spotlight.
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FTSE 100 slides despite strong updates from Admiral and CRH
With half an eye on tomorrow's jobs release in the US investors took money off the table
Archive
Proactive news summary: Bacanora Minerals, Genel Enery, Myrtah Energy, Tethys and more...
Meaty profits for Domino's pizza, a new deal for Tethys Petroleum and Genel Energy sees a drop in revenues.
Investments and investor services
Rising copper prices help London market to show its mettle
Miners rose as the price of the red metal hit a three-and-a-half-month high
Thursday's followed - Brexit, Admiral and Genel Energy
Swirling talk on Brexit pros and cons continued on Thursday...
Investments and investor services
London market stutters as services data disappoints
Dismal services data from around the world left investors unimpressed
Risers and Fallers including Petroceltic, Europa Oil & Gas and Weatherly
Here are some significant movers at around 3.15pm....
Genel Energy’s production partially offset oil price impact
At 84,900 barrels of oil per day Genel’s output was up 22% from the prior year.
Thursday's agenda: Genel to update on Kurdistan operations after reserve cut
The Kurdistan-focused producer has already predicted a US$1bn impairment charge on its Taq Taq field
Archive
BATS underlying business in excellent health – Nomura
Japanese broker Nomura has lifted its price target on fags maker British American to 4,930p from 4,810p and repeated a 'buy' rating.
FTSE 100 closes Monday’s trading flat
The blue-chip benchmark ended February a solitary point higher than Friday’s closing price.
Risers and Fallers, including 88Energy, Ocado and Scotgold
Below are some significant news driven movers at 5pm..
Genel updates on Taq Taq reserves
Genel Energy expects to record a $1bn impairment charge on the value of its Taq Taq field for 2015 due to a reduction in recoverable reserves and the lower oil price, it said.
Archive
Proactive news summary: dotDigital, Image Scan Holdings, Pan African Resources, TyraTech and more.
Biotech group Scancell is to present an update on its immunotherapy technologies at the Biotech Capital Conference in London.
Genel Energy: Jim Leng steps down from board
Leng was appointed executive chairman of Nomura Europe Holdings in December, and he now sees it as an appropriate time to step down.
Genel and DNO receive US$21.5mln for Tawke in January
The payments will be shared pro-rata by DNO and Genel
Investments and investor services
London shares dip as traders await US job data
The FTSE 100 Index fell 5.7 points to 5893 as miners dropped
Archive
Brokers: Kurdistan lift for Genel, Gulf Keystone says Barclays
Genel. Gulf Keystone, Just Eat, Premier Oil, Ergomed...
Gulf Keystone climbs on new Kurdistan payment terms
Payments will now reflect the revenue derived from each producing field on a netback basis
Genel Energy positioned to weather oil downturn, CEO says
Murat Özgül highlighted operations have low production costs, whilst also pointing to a robust cash position and low capital commitments.
Look ahead: Analysts steel themselves for drop in BHP Billiton's iron output
The struggling mining giant is scheduled to release its numbers at 9.30pm on Tuesday.
Archive
Bombed out Tesco one to check out, according to Barclays
On a week in which retailers came to the market, largely warned on trading and profitability and definitely failed to conquer, Barclays provided an antidote to the gloom with an upgrade to shares in Britain's largest grocer.
Gulf Keystone and Genel confirm Kurdistan oil payments for December
The payments reflect an apparent improvement and a regularity of payments which began in September.
Genel Energy receives fourth Kurdistan crude payment
Genel’s share of the Taq Taq oil payment will amount to around US$16.5mln.
Genel plugs and abandons Ivory Coast well
The completion of Genel Energy's (LON:GENL) committed Ivory Coast drill programme ended with finding no hydrocarbons at the Aigle-1X well.
Investments and investor services
Proactive news highlights: Metal Tiger, IOG, Learning Tech, StatPro, Teathers Financial and more
Sula Iron & Gold, 88 Energy and Iofina also made headlines on Monday
Genel Energy confirms receipt of oil payments from Kurdistan
Genel will see US$16.5mln of a US$30mln for Taq Taq's oil exports.
Investments and investor services
Brokers: Mixed day for the retailers
Dixons Carphone and Dunelm were given the thumbs up, while Kingfisher and next were downgraded by broker Nomura
DNO eyes timetable for US$1bn of Kurdistan oil payments
A timetabled release of US$1bn owed to oil companies would be needed if it is to keep up investments to avoid natural field decline, DNO said
Investments and investor services
Risers & Fallers: Ophir Energy, Ariana, Genel, PeerTV, Braveheart and Forbidden Technologies
Below are the main news-driven share price movements at 4pm.
Proactive oil & gas highlights – FOGL, Genel, Statoil, IGas, Mosman, Europa, 88 Energy
FOGL's disappointment in the deep-waters of the South Atlantic was probably the week's high profile story
Investments and investor services
Proactive news highlights: Goldplat, Seeing Machines, Acal, Arian Silver, Utilitywise, Mirada...
Fastjet, Ortac Resourves and Genel Energy also had news out...
Genel Energy sells 20% stake in Chia Surkh to partner
Petoil will become the operator and will pay Genel's costs for an upcoming well
Weekly Oil & Gas highlights – Falcon, Egdon Resources, Europa, 88 Energy, Trinity Exploration, Sound Energy, Genel & others
Small cap firms were boosted by fast-track news, as the pace picked up for key projects.
Investments and investor services
Proactive news highlights: Venn Life Sciences, Optibiotix, Petropavlovsk, Mart, 88 Energy and more
Pharma companies and energy firms were in the news today...
Genel Energy receives another payment for Tawke oil
This latest receipt, of US$9mln, is for production from the Tawke field.
Archive
Proactive news highlights: Shanta Gold, SolGold, Xtract Resources, REM, Condor Gold, Teathers...
Life was sweet in the world of the small cap miners today.
Week ahead: Will China dampen the mood ahead of Sky and Whitbread updates?
Investors will get a look at how the living wage is impacting firms when Whitbread reports on Wednesday.
Genel Energy founder Mehmet Sepil retires from company
“The history of the Kurdistan Region of Iraq's oil industry cannot be written without Mehmet featuring prominently," Tony Hayward said.
Investments and investor services
London palm oil stocks are under-priced, broker says
MP Evans, DekelOil, Tullow, Cairn, EnQuest, SOCO, Standard Chartered, and Marks & Spencer are in Thursday’s broker spotlight
Archive
Broker spotlight: Oil groups slashed by Deutsche Bank as crunch looms
Deutsche Bank leads the way with a swathe of price target reductions across the mid-cap oil explorers and producers.
Investments and investor services
Proactive news highlights: Asiamet, Paragon Diamonds, Accesso, Condor Gold, Genel Energy and more
Mosman Oil & Gas (LON:MSMN) moved STEP closer to acquisition with a royalty agreement worth NZ$4mln.
Genel Energy agrees to buy-out Bina Bawi partner
Genel will pay just US$5mln, and the total deal value could rise to US$150mln
Archive
Proactive weekly oil and gas news summary, including oil price, Mosman Oil & Gas, Genel Energy and 88 Energy
Crude price talk was again in focus, but there was a smattering of corporate news dfrom the sector too....
Genel Energy gets second payment from Kurdistan
Genel owns 44% and 25% respectively of the Taq Taq and Tawke fields.
Archive
Proactive news highlights, including Galasys, Rambler Metals, Genel Energy and Falcon Oil & Gas
It was fairly quite on the corporate front, but the news was varied...
Genel Energy receives US$16.5mln payment from Iraq
The payment was part of US$30m for the partners in the Taq Taq field in Kurdistan.
Kurdistan oil payments will start in early September
Cash will be allocated ‘in broad proportion’ to past and present contributions to export
DNO says regular payments are needed to sustain Kurdistan operations
Receivables for Tawke's crude has approached US$1bn
Proactive oil and gas highlights - Dragon Oil, Genel, Soco, Eland, Petroceltic
Dragon's takeover is practically a done deal and the stock will soon delist, Genel looks forward to regular payments and Petroceltic plans to re-launch its bond in a few weeks
Archive
Proactive news summary, including Genel Energy, OPG Power, Sphinx Resources, Tango Mining and Teathers Financial
A mixed news bag from the small caps on Thursday....
Genel's Kurdistan operations remain safe and secure
Plans for monthly oil payments promise a breakthrough for Kurdistan oil producers