Genel Energy PLC Receipt of payment under RSA (0588F)
February 16 2018 - 1:00AM
UK Regulatory
TIDMGENL
RNS Number : 0588F
Genel Energy PLC
16 February 2018
16 February 2018
Genel Energy plc
Receipt of payment under Receivable Settlement Agreement
Genel Energy plc ('Genel' or 'the Company') announces that the
Company has received an override payment of $7.05 million from the
Kurdistan Regional Government.
The payment represents 4.5% of Tawke gross field revenues for
the month of November 2017, as per the terms of the Receivable
Settlement Agreement.
Taken together with the monthly entitlement payments for Taq Taq
and Tawke announced yesterday, Genel's net share of payments
relating to November 2017 exports totals $26.81 million.
-ends-
For further information, please contact:
Genel Energy
Andrew Benbow, Head of Communications +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, LEI: 549300IVCJDWC3LR8F94). 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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