follow us like us subscribe contact us
Loading, please wait

KURDISTAN: Genel Announces Another Find

By Editorial Dept | Fri, 31 May 2013 18:26 | 0

Bottom Line: Anglo-Turkish Genel Energy—the biggest license holder in Iraqi Kurdistan—has announced another discovery, boosting the company’s already significant resources in Kurdistan.

Analysis: Genel Energy (LON:GENL) and partner Gulf Keystone (LON:GKP) have confirmed another commercial oil discovery in the Ber Bahr exploration well after drilling to a depth of 3,933 meters encountered good oil shows over a 300-meter interval. The well is operated by Genel. This was the sidetrack test (initial testing failed) and this time around we’re talking about flow rates of about 2,100 barrels of oil per day. Development of the field will begin in the second half of this year. Genel and Gulf Keystone each hold a 40% stake in the license, with the Kurdistan Regional Government (KRG) holding 20%. For Gulf Keystone, it represents the fifth discovery across four blocks in which it has an interest in Kurdistan.

Recommendation: Gulf Keystone is undergoing some structural changes, recently announcing that it would split the roles of chairman and CEO and move from AIM to the premium segment of the London Stock Exchange official list. The Ber Bahr find, in combination with this, boosts its buy-out position. Genel Energy is a different game altogether and becoming more of an investor attraction by the week, in large part based on its amazing success in Kurdistan. Now is the time to get in on Genel, before it starts producing in full force for sale…

To read the rest of this article Start a FREE subscription to our premium publication

Oil & Energy Insider - 30 day Free trial

30 day Free trial
A FREE Subscription Includes:
  • Investment advice normally reserved for hedge fund clients.
  • Market & sector research not available anywhere else.
  • Strategic advice from corporate & military intelligence analysts.
  • 9 Weekly Investment / intelligence reports.
  • Full access to all previous reports.
  • 30 days free trial.
Get FREE access to our research for 30 days

An essential resource for all investors in the energy sector whether you're a trader, fund manager or individual investor - this inside look at the energy markets is unlike any other report or service currently available.

About the author

More recent articles by Editorial Dept

Fri 25 July 2014
One Bright Spot In Utilities
Fri 25 July 2014
The Shale Revolutions Next Winner: The Permian Basin
Fri 25 July 2014
Global Energy Advisory July 25th 2014
Fri 25 July 2014
Are we About to See a Buying Opportunity in Oil
Fri 18 July 2014
Too Many Coincidences