Genel confirms $11.45m payment for Taq Taq oil sales in April

31st May 2016 14:44

(ShareCast News) - Genel Energy said the Taq Taq field partners have received a payment of $11.45m from the Kurdistan Regional Government for oil sales during April 2016.Its shares were up almost 2% on the news.This followed receipt of $11m announced 26 May and completed settlement of the invoiced amount of $22.45m for April 2016 Taq Taq oil sales.This latter amount incorporated $18.76m towards contractor monthly entitlement and $3.69m towards recovery of historical receivables.Genel's net share of this payment was $6.3m. Its total net share for April 2016 Taq Taq oil sales was $12.35m.

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