Genel Energy plc (LSE:GENL) is looking for M&A. Luke Clements, our Chief Financial Officer said during the Trading and Operations Update Investor Presentation, "So with net cash of about $120 million, we've cash of over $350 million. We are still looking to do M&A, and we will do M&A if it's there before the pipeline opens. It's obvious that if the pipe is open and paying regularly, we have more cash available, and you can use more cash if the pipe is shutting, you are not getting paid for exports.

There is less capital available. But we will -- we very much look at each opportunity on an individual basis, different assets have different cash flow profiles, different debt capacity, qualities. Different resilience to downside oil price or downside production, they're all different.

There isn't one answer. There isn't one amount of cash that I can tell you is the right amount of capital that's available for M&A but we press on M&A is important to us. We want to do it.

We believe we'll do it. We've worked hard for it for 15 months building up what I kind of call a watch list of over 20 assets that we like, that we are either trying to move into position or we have -- they will move themselves into position. So we continue to be focus on M&A and we continue to seek to do M&A".