UK 18:41 Friday, 18 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Genel Energy (GENL) was one of my long term picks for 2015, and I’m still confident that it will come good despite the recent drop in the share price. In fact I think at the current level of around 470p it offers even more value than it did a few months back, and I have been buying myself at close to the current price.
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
Paul Curtis
Agreed that Genel a good buy. Only a matter of time before export payments secured. Kurdistan exporting more than 400K bopd and Iraq running out of excuses. Under paying simply pushes Kurdistan towards independence.
The bit you didn’t mention is KRG has revised PSA to split revenues from domestic sales 50:50. This means Genel has sufficient revenues to tick over until export payments sorted.
Do you have latest Investec Note?
@paulcurtis123
Striebs
One other risk is that Tony Hayward is scheduled to retire soon .
Uncertainties regarding his successor need to be sorted out urgently .
Gary Newman
Paul,
I haven’t seen the latest note from them, would be interested to have a look as it is a company I’ve followed fairly closely for a while.
To be honest there was quite a lot of other aspects of the company as well that i just simply didn’t have the space to go into here – I was aware of the revised PSA though (perhaps I should have gone into more detail than just saying that payments for 2015 are likely to be in line with expectations, but i was already well over the usual 500-600 word limit!).
I know the region as a whole is still very risky, but Kurdistan really need oil revenue if they are to have any chance of going it alone, and the speed at which Genel is increasing production is impressive, plus the limited debt compared to other similar sized companies and no major CAPEX on the horizon, plus the fairly cautious way they have treated outstanding payments due from the KRG in the past in terms of accounting.
I added twice today around the 460 area.