2011 PRELIMINARY RESULTS - HIGHLIGHTS Successfully raised 2.1 billion dollars through an IPO in June Established a top class, highly experienced Board and management team Merged with Genel Energy International in November 2011,…
INCOME STATEMENT Company incorporated on 1 April 2011, the income statement recognises corporate and other costs incurred m from that date Revenue 24.0 Trading, and therefore revenue, only included since the Cost of sales (21.4)…
CASH FLOW STATEMENT m Loss before tax (57.7) Other represents share based payments and interest Depreciation 18.6 Capex is principally investment in oil and gas assets in Kurdistan Other (1.7) Share issues is net of IPO costs of…
BALANCE SHEET m Oil & gas assets represents principally interests in the producing fields at Taq Taq & Tawke Oil & gas assets 1,841.0 Exploration 227.6 Exploration assets are the groups PSC interests in exploration assets in the…
CAPEX 250 Net Genel Energy Capex (USm) 200-250m 200 150 Development 100 86 67 60 46 50 Exploration & Appraisal 0 2008 2009 2010 2011 2012E Notes: 1. Development include all development well drilling and all…
PRODUCTION & SALES REVENUE Working Interest Production (kbopd) Net Sales Revenue (m)1 55-60 kbopd 250-300m 42 150 142 17 12 29 2009 2010 2011 2012E 2009 2010 2011 2012E Taq Taq Tawke 1. Audited historic net…
OPERATIONAL MILESTONES FOR 2012 First Quarter Second Quarter Third Quarter Fourth Quarter Tawke reserve upgrade & KICE pipeline First Chia Surkh Taq Taq deep spuds commitment to facility upgrade to 100kbopd construction well…
THE 1.9 BILLION QUESTION Geographic diversification Within the Middle East and Africa Exploration hopper Extend the life of our exploration portfolio Asset quality Do not dilute the quality of our existing portfolio Capability…
SUMMARY Successful start following 2011 IPO Operations performing well Strong platform for future growth Clear strategy Short and medium term value drivers for Genel Energy Continued reserve growth at Taq Taq and Tawke…
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