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Genel Energy Announces Receipt of 11.05 Million from Kurdistan Regional Government (KRG) for Oil Sales

Genel's net share of the payment is $13.68 million

Genel Energy plc (‘Genel’) announces that the Taq Taq partners have received a gross payment of $11.05 million from the Kurdistan Regional Government (‘KRG’) for oil sales during November 2017. Genel’s net share of the payment is $6.08 million. Genel also notes the announcement from DNO ASA, as operator of the Tawke PSC, that the Tawke
partners have received $54.73 million from the KRG as payment for November 2017 crude oil deliveries to the export market from the Tawke licence. Genel's net share of the payment is $13.68 million. Source: Genel Energy

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