Genel Energy PLC (GENL) Genel Energy PLC: Receipt of payments for KRI oil sales 05-Nov-2021 / 07:00 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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5 November 2021

Genel Energy plc

Receipt of payments for KRI oil sales

Genel Energy plc ('Genel' or 'the Company') announces that payments have been received from the Kurdistan Regional Government ('KRG') relating to oil sales during August 2021.

Genel's share of those payments is as follows:

(all figures USD million)  Payment 
Tawke                    13.7 
Tawke override           8.2 
Taq Taq                  1.9 
Sarta*                   2.2 
Receivable recovery      3.9 
Total                    29.9

Following the receipt of the receivable recovery payment, Genel is now owed USD128 million from the KRG for oil sales from November 2019 to February 2020 and the suspended override from March to December 2020.

*Genel is awaiting confirmation from the operator, Chevron, that payment has been received. The Company expects this shortly and will not announce the payment separately.

-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 Sarta, 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.

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ISIN:          JE00B55Q3P39, NO0010894330 
Category Code: MSCM 
TIDM:          GENL 
LEI Code:      549300IVCJDWC3LR8F94 
Sequence No.:  126075 
EQS News ID:   1246479 
 
End of Announcement  EQS News Service 
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November 05, 2021 03:01 ET (07:01 GMT)

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