Genel Energy PLC: Trading and operations update
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Genel Energy PLC (GENL)
27 January 2026
Genel Energy plc Trading and operations update
Genel Energy plc ('Genel' or 'the Company') issues the following trading and operations update in advance of the Company's full-year 2025 results, which are scheduled for release on 18 March 2026. The information contained herein has not been audited and may be subject to further review.
Paul Weir, Chief Executive of Genel, said: “We are well positioned to progress on our strategy and deliver significant value to our shareholders. Notably, we have a resilient core business, which covers its costs even when sales are restricted to discounted domestic market pricing at just over $30/bbl and a balance sheet that provides the funding required to deliver on our strategic objectives.
Geographical diversification of our cash generation remains the priority for the business. Our process remains active with live opportunities under review, and we continue to pursue and bid on these opportunities. We will retain our discipline and rigorous evaluation process to ensure every opportunity we choose to pursue is value accretive over the long term for our shareholders and meets our priority criteria.
There is significant, currently unvalued, potential in our portfolio. On the Tawke PSC, the new drilling campaign is underway targeting the maximisation of production from, and additions to, the existing material reserves base there. In terms of accessing export pricing, the first stage of the new Kurdistan export arrangement has been reported by all participants to be working. We congratulate those stakeholders involved in the significant effort and trust that has resulted in export arrangements reaching this promising stage. We see sustained and consistent execution as a key consideration as we keep export arrangements under review. On Block 54 in Oman, preliminary operational work has been completed safely, ahead of time and under budget. Work is ongoing to assess the accumulated data to inform the focus of our activity over the next two years, which will include drilling two wells. In Somaliland, we continue to work with stakeholders to progress to a position where we can drill the potentially transformational Toosan-1 well there.
Each of these strategic objectives has the potential to deliver significant value. In combination they can transform the business, transform our cash generation capacity, and further energise the business and the value proposition for our shareholders.”
KURDISTAN: TAWKE PSC (25% working interest)
OMAN: BLOCK 54 (40% working interest)
SOMALILAND: SL10B13 (51% working interest)
FINANCIAL PERFORMANCE
ESG
OUTLOOK
Genel will host a live presentation on the Investor Meet Company platform on Wednesday 28 January at 1000 GMT. The presentation is open to all existing and potential shareholders. Questions can be submitted at any time before or during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet Genel Energy PLC via: https://www.investormeetcompany.com/genel-energy-plc/register-investor
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For further information, please contact:
Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). For further information, please refer to www.genelenergy.com
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. View original content: EQS News |
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| ISIN: | JE00B55Q3P39, NO0010894330 |
| Category Code: | TST |
| TIDM: | GENL |
| LEI Code: | 549300IVCJDWC3LR8F94 |
| Sequence No.: | 416200 |
| EQS News ID: | 2266244 |
| End of Announcement | EQS News Service |
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