Genel Energy PLC (GENL) 
Genel Energy PLC: Update on Tawke PSC 
 
07-May-2020 / 07:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                      7 May 2020 
 
           Genel Energy plc 
 
           Update on Tawke PSC 
 
 Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC 
         (Genel 25% working interest), has today issued an update on licence 
                      activity. 
 
     In Q1 2020, gross production at the Tawke and Peshkabir fields averaged 
 61,493 bopd and 53,714 bopd respectively. After completing five development 
 wells in the licence during the quarter, three drilling rigs were released, 
but the Company-operated workover rig continues to service production wells. 
  A drilling rig has been stacked at each field and can quickly be mobilised 
                      when conditions warrant. 
 
    The Peshkabir-to-Tawke gas capture, transport and reinjection project to 
  effectively end CO2 emissions at Peshkabir and boost oil recovery at Tawke 
                      is completed and undergoing commissioning. 
 
           -ends- 
 
                      For further information, please contact: 
 
Genel Energy                          +44 20 7659 5100 
 
Andrew Benbow, Head of Communications 
 
Vigo Communications                   +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 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 sustainable dividend, even at a low 
 oil price. Genel also continues to pursue further growth opportunities. For 
               further information, please refer to www.genelenergy.com [1]. 
 
ISIN:          JE00B55Q3P39 
Category Code: MSCM 
TIDM:          GENL 
LEI Code:      549300IVCJDWC3LR8F94 
Sequence No.:  62244 
EQS News ID:   1038231 
 
End of Announcement EQS News Service 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=3ec46b352f38452116096dbbab51b09e&application_id=1038231&site_id=vwd&application_name=news 
 

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May 07, 2020 02:00 ET (06:00 GMT)

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