We’re currently in the midst of some significant happenings right now. It’s almost coming too fast to keep on top of things, so let’s just recap the current situation. …EVERYTHING oil related is cruising along at a good clip and in the right direction. …we have touched $60 a couple times this week…the real important part is the manner it is happening. Nice and steady, just how we want it… for now… I’m expecting to see some solid HCL news, and a potential focus on the HCL, with the RV bubbling just below the surface of the news. …at this time…they will not give us a major heads up on this plan. Our only clues are going to be: Stability in the GOI, which we have.; Solid news on HCL, or an actual passed HCL bill, which is reasonable to expect under the current situation.
Very related to HCL is this: Article: “Parliamentary Energy intends to review the oil agreement between Baghdad and Erbil” In a nutshell, the Kurdish oil production is higher than the anticipated amount… What does this mean to us? IMO, this has great potential. The Kurds have a solid argument, and the Baghdad side now has a LOT of motivation to get busy negotiating a profit-sharing agreement. That’s exactly what the HCL is. The Kurds will also be motivated to get this moving, as they probably stand to catch a larger portion of the budget in addition to a better HCL deal. A couple of years ago when they were talking about a secession, with the Kurds forming their own country – remember that? I had heard at the time from my experts that there was no real chance of that happening, but they were setting the stage for a stronger position in the big picture. That is EXACTLY what this ties into, and the HCL is what puts a pretty little bow on this whole deal. Pretty exciting stuff!