Genel Energy PLC (GENL)
19 June 2020
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 for oil sales during May 2020.
The Taq Taq partners have received a gross payment of $3.4 million, with Genel's net share of the payment being $1.9 million.
The Tawke partners have received a gross payment of $26.8 million, with Genel's net share of the payment being $6.6 million.
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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.
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