Genel Energy awaiting approval Genel Energy awaiting approval on Chia Surkh deal
StockMarketWire.com
Genel Energy's plans to increase its interest in the Chia Surkh block in the Kurdistan Region of Iraq from 20% to 80% and to become operator are still awaiting government approval.
Genel Energy announced in January that it had entered into a deal with Forbes & Manhattan (Kurdistan) Inc (a subsidiary of Longford Energy Inc) and Petoil Petroleum to take a larger interest in the block.
Genel Energy says the application before the Kurdistan Regional Government Oil and Gas Council remains pending, and all parties continue to work with the government to secure final approval.
At 8:38am: (LON:GENL) share price was +0.5p at 808.5p
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