Genel Energy PLC Receipt of payment for KRI oil exports (2897K)
06 July 2017 - 4:20PM
UK Regulatory
TIDMGENL
RNS Number : 2897K
Genel Energy PLC
06 July 2017
6 July 2017
Genel Energy plc
Receipt of payment for KRI oil exports from Tawke field
Genel Energy plc ('Genel') notes the announcement from DNO ASA,
as operator of the Tawke field, that the Tawke field partners have
received a payment of $40.66 million from the Kurdistan Regional
Government as payment towards April 2017 crude oil deliveries to
the export market from the Tawke field.
The payment reflects full settlement of the invoiced amount for
April 2017 oil sales, and includes $34.10 million towards monthly
entitlement and $6.56 million towards recovery of historical
receivables.
The payments will be shared pro-rata by DNO and Genel.
-ends-
For further information, please contact:
Genel Energy
Phil Corbett, Head of Investor
Relations
Andrew Benbow, Head of Public
Relations +44 20 7659 5100
Vigo Communications
Patrick d'Ancona +44 20 7830 9700
Notes to editors:
Genel Energy is an independent oil and gas exploration and
production company listed on the main market of the London Stock
Exchange (LSE: GENL). The Company, with headquarters in London and
offices in Ankara and Erbil, is one of the largest London-listed
independent oil producers, and is the largest holder of reserves
and resources in the Kurdistan Region of Iraq. Through its Miran
and Bina Bawi gas fields, the Company is positioned to be a
cornerstone provider of KRI gas to Turkey under the KRI-Turkey Gas
Sales Agreement. Genel also continues to pursue further growth
opportunities within the Middle East and Africa. For further
information, please refer to www.genelenergy.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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