Genel Energy PLC Update on Bina Bawi (3900K)
August 20 2012 - 10:48AM
UK Regulatory
TIDMGENL
RNS Number : 3900K
Genel Energy PLC
20 August 2012
20 August 2012
Genel Energy plc
Update on Bina Bawi
On 6 August 2012, Genel Energy plc ("Genel Energy") announced
that it intended to acquire an additional 21 per cent interest in
the Bina Bawi exploration licence from Hawler Energy Ltd (the
"Acquisition").
Genel Energy today announces that the Kurdistan Regional
Government Oil and Gas Council has approved the Acquisition and
that accordingly, the Acquisition has completed.
The Acquisition is in addition to the Company's acquisition of
an initial 23 per cent interest in the Bina Bawi block, which
completed on 3 August 2012. Consequently, Genel Energy now holds a
44 per cent working interest in the Bina Bawi block.
-ends-
For further information, please contact:
Genel Energy
Julian Metherell, Chief Financial
Officer
Natalie Fortescue, Investor Relations +44 20 7659 5100
M: Communications
Patrick d'Ancona
Andrew Benbow +44 20 7920 2330
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). The company, with headquarters in London and
additional offices in Ankara and Erbil, is the largest oil producer
and the largest holder of reserves in the Kurdistan Region of Iraq.
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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