In FRANK26 

The HCL – It’s a law of the National Oil Company. It has 4 major laws in it…the last line item law that they have been working on to complete at least for 17 years…It’s the biggest law in contention – basically asking, Who controls the oil and gas in Iraq?  Who distributes the profits that belong to the citizens?…who’s in charge of doing this?  Now what happened [Tuesday]…this is to remove any distinction between Kurdistan and Baghdad.  The question of who is going to control the oil and gas revenues coming into Iraq is now established…it’s going to give birth to the Hydrocarbon Law…that is huge. That is tremendously important in order for them to give a date and the rate.