Source - Alliance News

Genel Energy PLC - London-based oil company focused on the Kurdistan region - Posts slightly lower production of barrels of oil per day in the first quarter of 2022. Net production, while in line with guidance, falls to 30,520 barrels of oil per day from 30,843 a quarter ago. Net cash grows to $86 million at March 31 from $44 million at December 31. Margin per barrel climbs to $30 from $24 a year ago.

Firm says it received $95 million from the Kurdistan Regional Government in 2022's first quarter. Reiterates guidance for 2022, expecting production around the same level as the 2021 average. Proposes a dividend of 12 cents per share, up from 10 cents a year ago.

Current stock price: 173.40 pence, up 1.1% on Thursday

12-month change: down 0.6%

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