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Genel Energy PLC (GENL)
Genel Energy PLC: Receipt of payments for KRI oil sales
18-Oct-2022 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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18 October 2022
Genel Energy plc
Receipt of payments for KRI oil sales
Genel Energy plc ('Genel' or ‘the Company’) announces that all payments
have now been received from the Kurdistan Regional Government (‘KRG’)
relating to oil sales during June 2022.
Genel’s share of those payments is as follows:
(all figures $ million) Payment
Tawke 24.6
Tawke override 15.5
Taq Taq 2.8
Sarta 2.8
Receivable recovery 13.5
Total 59.2
Genel was owed $120 million, excluding interest, for deferred receivables
from the KRG for oil sales from November 2019 to February 2020, and has
now received $117 million. In addition, the override was suspended from
March to December 2020, which would have earned Genel $38 million.
-ends-
For further information, please contact:
Genel Energy
+44 20 7659 5100
Andrew Benbow, Head of Communications
Vigo Consulting
+44 20 7390 0230
Patrick d’Ancona
Notes to editors:
Genel Energy is a socially responsible oil producer listed on the main
market of the London Stock Exchange (LSE: GENL, LEI:
549300IVCJDWC3LR8F94). The Company is one of the largest London-listed
independent hydrocarbon producers, with an asset portfolio that positions
us well for a future of fewer and better natural resources projects. Genel
has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke
licences in the Kurdistan Region of Iraq, providing financial resilience
that allows investment in growth and the payment of a material and
progressive dividend. Genel also continues to pursue further growth
opportunities. For further information, please refer to
1 www.genelenergy.com.
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ISIN: JE00B55Q3P39, NO0010894330
Category Code: MSCM
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 195030
EQS News ID: 1465489
End of Announcement EQS News Service
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