Update on Bina Bawi

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

[phone]

M: Communications Patrick d'Ancona Andrew Benbow

[phone]

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

 

END

 

 

MSCXBLFLLVFZBBZ