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Saturday, 27 July 2013

Genel Energy (GENL) - Buy

Following his ignominious exit form BP, Tony Heywood teamed up with a scion of the Rothschild family, a former Goldman Sachs deal-maker and two Turkish tycoons to look for oil in the politically sensitive region of Kurdistan. In addition, Genel Energy is looking for oil in Somalia, Morocco, Cote D’Ivoire and Malta, but for now it is Kurdistan which provides the impetus. Back in January, Genel became the first company to successfully export oil directly from the region, and according to UBS there has been “no apparent payment, legal or political issues.”

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