Genel Energy (GENL)

Sector:

Energy Producers

51.70p
   
  • Change Today:
      0.20p
  • 52 Week High: 101.60
  • 52 Week Low: 50.20
  • Currency: UK Pounds
  • Shares Issued: 279.40m
  • Volume: 521,746
  • Market Cap: £144.45m

Genel Energy to impair Sarta asset after drilling results

By Frank Prenesti

Date: Tuesday 13 Dec 2022

LONDON (ShareCast) - (Sharecast News) - Genel Energy on Tuesday said it would have to impair its Sarta asset after drilling results fell short of expectations.


The company has a 30% stake in the Kurdistan field, while Chevron has 50%. Drilling at the Lower Jurassic level, target of the well's primary objectives, flowed only formation water.

Genel said it would assess the longer-term development and monetisation opportunities of these heavy oil resources, as part of the field's joint venture.

However, it warned that it would invest cash in the licence only if it had confidence that this would generate returns. The field averaged 4,000 barrels of oil per day in the quarter.

Reporting by Frank Prenesti for Sharecast.com

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Genel Energy Market Data

Currency UK Pounds
Share Price 51.70p
Change Today 0.20p
% Change 0.39 %
52 Week High 101.60
52 Week Low 50.20
Volume 521,746
Shares Issued 279.40m
Market Cap £144.45m

Genel Energy Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
56.66% above the market average56.66% above the market average56.66% above the market average56.66% above the market average56.66% above the market average
2.78% below the sector average2.78% below the sector average2.78% below the sector average2.78% below the sector average2.78% below the sector average
Price Trend
73.69% below the market average73.69% below the market average73.69% below the market average73.69% below the market average73.69% below the market average
36.99% below the sector average36.99% below the sector average36.99% below the sector average36.99% below the sector average36.99% below the sector average
Income Not Available
Growth
44.16% below the market average44.16% below the market average44.16% below the market average44.16% below the market average44.16% below the market average
52.17% below the sector average52.17% below the sector average52.17% below the sector average52.17% below the sector average52.17% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Genel Energy Dividends

  Latest Previous
  Final Interim
Ex-Div 20-Apr-23 15-Sep-22
Paid 19-May-23 14-Oct-22
Amount 12.00¢ 6.00¢

Trades for 06-Jun-2025

Time Volume / Share Price
16:35 10,902 @ 51.70p
16:35 697 @ 51.70p
16:35 542 @ 51.70p
16:35 8,503 @ 51.70p
16:35 1 @ 51.70p

Genel Energy Key Personnel

Chair David McManus
CEO Paul Weir

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