Genel Energy Plans Acquisitions in Iraqi KurdistanThe best way to invest in this is a mix of WZR, VST, GST, LFD and DNO. Low risk DNO and WZR, high risk VST, LFD and GST. High risk = 10-50 baggers. The oil and gas law is in the making and could be ready early 2012.
Tony Hayward (pictured), the Chief Executive Officer of Genel Energy Plc, a group formed via a merger of Vallares Plc and Turkey’s Genel Enerji, said he plans acquisitions in Iraqi Kurdistan.
Reuters reports that the former boss of BP told reporters in Istanbul that the company plans to make the acquisitions with its $2.2 billion in cash.
“Consolidation is going to take place in the region. There are 41 different entities operating in the Kurdistan region today,” Hayward said.
“Time is right for consolidation in the Kurdistan region. You should expect to see some action around the place.”