• 4 minutes Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 7 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 11 minutes Trump Will Win In 2020
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 3 hours Let's shut down dissent like The Conversation in Australia
  • 3 hours Ethanol is the SAVIOR of the Oil Industry, Convenience Store Industry, Automotive Supply Chain Industry and Much More!
  • 6 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
  • 4 hours Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 5 hours Trump Accidentally Discusses Technology Used In The Border Wall
  • 2 hours Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 20 hours Drone attacks cause fire at two Saudi Aramco facilities, blaze now under control
  • 13 hours Donald Trump Proposes Harnessing Liberal Tears To Provide Clean Energy
  • 12 hours Saudis Buying Oil From Iraq
  • 13 hours Saudis Confirm a Cruise Missile from Iranian Origin
  • 3 hours Hong Kong protesters appeal to Trump for support.
  • 1 day China Faces Economic Collapse
  • 1 day Democrats and Gun Views

KURDISTAN: Genel Announces Another Find

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.

Discovery 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 on the international market via Turkey, which should really start to take off by the end of this year.




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play