March 19, 2020 / 7:47 AM / in 15 days

BRIEF-Genel Energy Says Capital Expenditure Can Be Reduced To As Little As $60 Mln In 2020

March 19 (Reuters) - Genel Energy PLC:

* REG-GENEL ENERGY PLC GENEL ENERGY PLC: FULL-YEAR RESULTS

* GENEL ENERGY PLC - “WE ARE A BUSINESS THAT CAN GENERATE EXCESS CASH AT A SUSTAINED OIL PRICE OF $40/BBL “

* GENEL ENERGY PLC - RETAINED OUR DIVIDEND OF 10¢ PER SHARE

* GENEL ENERGY PLC - CAPITAL EXPENDITURE CAN BE REDUCED TO AS LITTLE AS $60 MILLION IN 2020

* GENEL ENERGY- CAPEX CAN BE REDUCED TO AS LITTLE AS $60 MILLION IN 2020, WITH AN EXPECTATION THAT IT WILL BE AROUND $100 MILLION AT PREVAILING OIL PRICE

* GENEL ENERGY PLC - COVID-19 IS IMPACTING EASE OF OPERATING IN KURDISTAN REGION OF IRAQ

* GENEL ENERGY PLC - PRODUCING OPERATIONS ARE CURRENTLY CONTINUING WITH A REDUCED STAFF

* GENEL ENERGY PLC - PAYMENTS FOR PRODUCTION IN OCTOBER AND NOVEMBER 2019, DUE IN JANUARY AND FEBRUARY 2020, HAVE NOT BEEN RECEIVED

* GENEL ENERGY PLC - OPERATING CASH COSTS PER BARREL EXPECTED TO BE $3/BBL IN 2020

* GENEL ENERGY PLC - YET TO RECEIVE DRAFT LEGAL DOCUMENTS REFLECTING COMMERCIAL UNDERSTANDING REACHED ON BINA BAWI IN SEPTEMBER 2019

* GENEL ENERGY PLC - FY UNDERLYING PROFIT $134.9 MILLION VERSUS $138.9 MILLION

* GENEL ENERGY PLC - FY REVENUE $377.2 MILLION VERSUS $355.1 MILLION

* GENEL ENERGY PLC - FY PRODUCTION (WORKING INTEREST) 36,250 BOPD VERSUS 33,700 BOPD

* GENEL ENERGY PLC - FY OPERATING PROFIT $132.3 MILLION VERSUS LOSS OF $254.6 MILLION Source text for Eikon: Further company coverage:

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