[via PDK] I am being told it is looking to start the float around 1160+ …and the rate will be looked at each day. This is massive progress coming out of Iraq. This makes sense as to whats best for the Iraqi people. This is a slow grind to the top and I am told it will not affect our contract rate as it is based on the “Oil for Dinar” contracts. So even if the rate takes awhile to get to where we want it…it has now started. They have now announced that it has started. There is no more “Waiting for this to go”…Expect the float to go fast. I am very excited about the news out of Iraq. [So its possible we could go to the banks this week?] it could be. We will have to wait and see. If the float rate kicks in Tues or Wed…we could see that rate start to run…very quickly.
