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Tawke reserves update
Tawke reserves update.
About this update from Genel Energy Plc
[{"type":"text","content":"\n \nRNS Number : 3949W Genel Energy PLC 09 February 2017 \n\n9 February 2017\n \nGenel Energy plc\n \nTawke reserves update\n \nGenel Energy plc notes that DNO ASA, as operator of the Tawke field (Genel 25% working interest), has today published updated estimates of Tawke field reserves.\n \nAt 31 December 2016, Tawke gross proved (1P) reserves are estimated by DNO ASA at 348 mmbbls, compared to 387 mmbbls at year-end 2015.\n \nAt 31 December 2016, gross proved plus probable (2P) reserves are estimated at 504 mmbbls, compared to 543 mmbbls at year-end 2015.\n \nTawke production in 2016 totalled 39 mmbbls.\n \nAt 31 December 2016, Tawke 2C contingent resources are estimated at 100mmbbls, unchanged from year-end 2015.\n \nAt the Peshkabir field, gross 2P reserves at 31 December 2016 stood at 32 mmbbls, all of which is located in the Jurassic reservoir, discovered in 2012. Peshkabir's 2C resources at 31 December 2016 are estimated at 111 mmboe, of which 104 mmbbls is oil and 7 mmboe is gas. The Cretaceous discovery at the Peshkabir field, announced by the Tawke field partners in January 2017, added 48 mmboe of gross 2C resources, which is principally oil. At year-end 2015, Peshkabir's gross 2C resources stood at 63 mmboe.\n \nThe full DNO Annual Statement of Reserves, providing further context, can be found at www.dno.no\n \nGenel will report full-year 2016 results on 30 March 2017.\n \n-ends-\n \nFor further information, please contact:\n \n\n\n\n\nGenel Energy\nPhil Corbett, Head of Investor Relations\nAndrew Benbow, Head of Public Relations\n\n\n+44 20 7659 5100\n\n\n\n\n \n\n\n \n\n\n\n\nVigo Communications\nPatrick d'Ancona \n\n\n+44 20 7830 9700\n\n\n\n\n \nThis announcement includes inside information.\n \nNotes to editors:\n \nGenel 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 offices in Ankara and Erbil, is one of the largest London-listed independent oil producers, and is the largest holder of reserves and resources in the Kurdistan Region of Iraq. Through its Miran and Bina Bawi gas fields, the Company is set to be a c...