Genel Energy PLC 22.8% potential upside indicated by Canaccord Genuity

Genel Energy PLC with ticker (LON:GENL) now has a potential upside of 22.8% according to Canaccord Genuity.



Canaccord Genuity set a target price of 105 GBX for the company, which when compared to the Genel Energy PLC share price of 86 GBX at opening today (05/04/2024) indicates a potential upside of 22.8%. Trading has ranged between 64 (52 week low) and 137 (52 week high) with an average of 198,859 shares exchanging hands daily. The market capitalisation at the time of writing is £229,669,093.

Genel Energy Plc is an independent oil and gas exploration and production company. The Company is principally engaged in the business of the exploration, development and production of natural resources. The Company operates through two segments: Production and Pre-production. The production segment is comprised of the producing fields on the Tawke PSC (Tawke and Peshkabir), the Taq Taq PSC (Taq Taq) and the Sarta PSC (Sarta) which are located in the KRI and make sales predominantly to the KRG. The Taq Taq license area is located 60 kilometers (km) northeast of the Kirkuk oil field. The pre-production segment assets consist of exploration opportunities in Somaliland and Morocco. Somaliland is a highly prospective, onshore exploration province, and Genel is targeting resources of over two billion barrels of oil. The Sidi Moussa license, offshore Morocco, contains an estimated 750 million barrels of oil equivalent (MMBOE) of unrisked resources.