Genel Energy

Genel Energy offers $4.74 per Capricorn share (a $3.75 cash price plus a $0.99 special dividend), valuing the entire equity at about $360 million. Capricorn shares rose as high as 353 pence intraday, their highest level in ten years; the offer represents a 34% premium to the closing price on 10 March 2026 and a 48% premium to the volume-weighted three-month average. The combined group would have pro-forma 2P reserves of 117 million barrels of oil equivalent and production of 41,003 barrels of oil equivalent per day, evenly split between Kurdistan and Egypt. The transaction is subject to Capricorn shareholder approval and an Egyptian approval and is expected to become effective in the second half of 2026; the long-stop date is 2 January 2027. » Altro su de.investing.com

At Genel Energy’s annual general meeting, shareholders voted in favour of all 12 proposals by overwhelming majorities, including approval of the audited financial statements for 2025 (99.96%) and the remuneration report (97.61%). Dr. Patrick Allman-Ward and other directors were confirmed, Paul Weir was re-elected as an executive director, and BDO LLP was reappointed as auditor. The board and the company were also granted authorities for share buybacks, limited political donations, and calling extraordinary general meetings with at least 14 days’ notice. » Altro su de.investing.com

Genel Energy temporarily halted production on the Tawke licence in Kurdistan for safety reasons after US‑Israeli air strikes on Iran. Partner DNO resumed operations in the field only on a limited basis on April 9 and plans an eight‑well drilling campaign. Gross production fell in Q1 to 52,800 bopd (previously 77,270 bopd), attributable production was 13,200 bopd, and free cash flow from production was USD 2m; as of March 31 the company had USD 222m in cash and net cash of USD 131m. Payments from the Kurdistan Regional Government of around USD 88m are overdue, net of roughly USD 40m in receivables. » Altro su de.investing.com