Receipt of payment under RSA

RNS Number : 8878V

Genel Energy PLC

08 November 2017

 

8 November 2017

Genel Energy plc

Receipt of payment under Receivable Settlement Agreement

Genel Energy plc ('Genel' or 'the Company') is pleased to announce that the Company has received an override payment of $6.41 million from the Kurdistan Regional Government.

The payment represents 4.5% of Tawke gross field revenues for the month of September 2017, as per the terms of the Receivable Settlement Agreement.

An entitlement invoice for that month's export deliveries has been issued separately and will be shared pro-rata with DNO upon receipt.

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For further information please contact:

Genel Energy Phil Corbett, Head of Investor Relations	[phone]
Andrew Benbow, Head of Public Relations

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.

 

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