Energy Innovation for a Secure World

Genie Energy believes that competition and ceaseless innovation are required to meet the world’s growing demand for affordable, environmentally sustainable and reliable sources of energy.

Genie Energy (NYSE: GNE, GNEPRA) believes that competition and ceaseless innovation are required to meet the world’s growing demand for affordable, environmentally sustainable and reliable sources of energy.

Genie Energy is comprised of Genie Retail Energy and Genie Oil and Gas (GOGAS).

    • Genie Retail Energy supplies electricity and natural gas to residential and small business customers in the Mid-Atlantic and Midwestern United States.
    • Genie Oil and Gas (GOGAS) is pioneering technologies to produce clean and affordable transportation fuels from the world’s abundant oil shales and other fuel resources.  Genie Oil and Gas holds Genie’s interests in a conventional oil and gas exploration project in Northern Israel as well as early stage unconventional oil shale development projects in Mongolia and Colorado.
Genie Energy Signs Agreement for Additional Oil Shale Exploration in Mongolia

Newark, N.J. – September 16, 2014: Genie Energy Ltd. (NYSE: GNE, GNEPRA) said today that its subsidiary, Genie Oil Shale Mongolia, LLC (GOSM), has signed a prospecting agreement with the Petroleum Authority of Mongolia (PAM).  The new exploration block covers twenty-five thousand square kilometers in Central Mongolia southeast of the Mongolian capital, Ulaanbaatar. The agreement, the first to be signed under recently passed legislation, also provides a framework under which the company can request a commercial production agreement once a specific suitable resource and location are identified.

Michael Jonas, Genie’s Executive Vice President and Director of Global Exploration and Business Development, said,  “We thank the Petroleum Authority and the Ministry of Mining for their hard work and professionalism in getting us to this point.  We are excited to expand our oil shale exploration program in Mongolia, and expect that our investment will benefit the people of Mongolia as well as our Company.”