TIDMGENL

RNS Number : 1555E

Genel Energy PLC

04 May 2017

04 May 2017

Genel Energy plc

Kurdistan Operational Update

Genel Energy plc ('Genel') notes that DNO ASA ('the Company'), as operator of the Tawke PSC, has issued the following update:

"The expanded 2017 Tawke program includes eight new production wells, of which six are Cretaceous and two shallow Jeribe wells. A third drilling rig has been mobilized following receipt of regular payments for oil exports through Turkey.

Elsewhere on the Tawke license, the Company produced an average of 3,000 barrels of oil per day from the Jurassic horizon of the recently drilled Peshkabir-2 well during a two-week test period in April. These volumes were trucked to DNO's facilities at Fish Khabur and exported. Extended testing of the shallower Cretaceous discovery in the Peshkabir-2 well has commenced. The Peshkabir-3 appraisal/production well will spud this summer.

The Company is preparing an accelerated development plan utilizing an early production facility to bring the Peshkabir field onstream by the end of this year."

-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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May 04, 2017 02:31 ET (06:31 GMT)

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