Genel Energy (GENL) has been a favourite of mine this year, and I now view it as a buy again. Having tipped it at 470p at the start of April, it had risen to around 620p by the end of the month when I advised banking profits on all the larger oil producers – specifically Genel - having seen Brent rise into the high 60s, and many having enjoyed a big bounce.
It has been a great start to the year for anyone who has been buying into many of the larger oil producers. Most of these large producers, and companies associated with the oil industry, hit their lowest market caps for a number years at the end of 2014 and going into 2015.
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.
My first ‘tip for 2015’ has to be Genel Energy (GENL) which has the potential for big returns and is better positioned than some of its peers.
As a shareholder in Genel (GENL), the oil exploration company run by ex BP boss Tony Haywood with its main asset in the Kurdish region of Iraq I had a rather sleepless night on Sunday.
Genel Energy (GENL) may be operating in riskier parts of the world but this oil and gas exploration and production company has massive potential. The Anglo-Turkish outfit is headed up by former BP CEO Tony Hayward, and has just announced that it has issued $500 million senior unsecured bonds at a coupon of 7.5% - an increase of $100 million on the original offer – and is expected to complete this by May 14.
Despite or perhaps because it has former BP CEO Tony Hayward at the helm it could very well be that Anglo Turkish E&P Genel Energy proves to be everything that bulls of Gulf Keystone (GKP) had been hoping for.
