REG-Genel Energy PLC Genel Energy PLC: Receipt of payments for KRI oil sales

Genel EnergyAnnouncement

13/02/2023 07:30

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   Genel Energy PLC (GENL)
   Genel Energy PLC: Receipt of payments for KRI oil sales

   13-Feb-2023 / 07:29 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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   13 February 2023

                                        

                                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 August 2022.

    

   Genel’s share of those payments is as follows:

    

   (all figures $ million) Payment
   Tawke                      20.2
   Taq Taq                     2.5
   Sarta                       2.2
   Receivable recovery         6.5
                     Total    31.4

    

   Genel expects  to  receive a  further  $13  million in  2023  relating  to
   historic receivables from 2020.

    

                                     -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 Kurdistan Region of  Iraq,
   and a committed dividend programme that is material and sustainable. Genel
   continues to seek opportunities to  add new resilient and  cash-generative
   assets to its portfolio, with the goal of progressing its dividend in  the
   long-term. 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
   Sequence No.:  222496
   EQS News ID:   1557771


    
   End of Announcement EQS News Service

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