Thread: Has Exxon already signed oil contracts now?

Originally Posted by wellwishes

StrongTower, thanks for this info.

I say absolutely! Exxon has signed contracts and is now in production. Something big had to happen to cause their stock to jump like that. Certainly not the usual good business news...something phenomenal.

It's definitely Iraq. Anything else would have been broadcasted. ALWAYS within a day or two, a substantial stock move is followed by news of what caused the move...nothing in this case...could only be sensitive info. Definitely Iraq.

Yes!! They're all in there setting up and hiring people.. Its a mad scramble to find enough qualified people.. I'm sure they are about 30 Companies in there in all stages of exploration,, locking in drill sites and setting up equipment.. Production? Probably about two years out...before oil is flowing into pipe-lines...

Originally Posted by Bubba Dinar

Yes!! They're all in there setting up and hiring people.. Its a mad scramble to find enough qualified people.. I'm sure they are about 30 Companies in there in all stages of exploration,, locking in drill sites and setting up equipment.. Production? Probably about two years out...before oil is flowing into pipe-lines...

Thank you for this info. Put this with other confirmed facts and I'd say there is no doubt the HCL is done. For security and other reasons, the timing is not quite right to announce. But there is no doubt this law has passed. Things that were held up, a couple of months ago, becausel the HCL was not passed, are NOW going on.

Exxon and a few others recently got the go ahead...No way unless the HCL is done.

This is good info of facts.

Originally Posted by strongtower

Thursday and Friday the Dow closed at a record high day. It closed at over 13,000 points and there were two things that pushed them over. One of them had a unknown surge which was Exxon and I'm trying to think of the second name but it deals with the reserves and currency. I wonder if Exxon has signed their contract now and their market cap went up. But either way something is up with Exxon. Also remember the article that said the oil and gas rate has been approved. HCL might be fully ratified. Look at this article and see if you find a resemblance.

STOCKWATCH DNO jumps on rumours of imminent new oil law in Iraq

Last Updated: 26-June-2007 14:30:25



OSLO (Thomson Financial) - Shares in DNO ASA jumped in afternoon trade, outperforming a weaker overall market, on rumours that the Iraqi government will soon pass a law allowing foreign oil companies - including DNO - to extract oil in Iraq, according to dealers.
At 3.25 pm, shares in DNO were up 0.36 nkr, or 2.96 pct, at 12.51, while the OSEBX benchmark index was 0.21 pct lower at 501.38.
According to Nordea Markets, the new law appears to be imminent, and as a result the broker has a 'strong buy' on the stock with a 15 nkr price target.
Rumours of the new oil law in Iraq have been circulating for a number of months, but the Iraqi government is yet to publish anything concrete.
Norwegian oil minnow DNO is the first western explorer to drill for oil in post-war Iraq, and has already said it expects to produce between 25,000-30,000 barrels of oil per day (bopd) from the region by the end of the year.

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Why is this important? There is a rule or slogan in the market.

BUY ON RUMOR AND SELL ON NEWS

Most market rumors come true

Here is some more insight, this is what happened yesterday. Exxon's market cap rose to 500 billion and caused a rush on their stock which rose the Dow to an alltime high. The second thing that rose was the financial sector of the Dow which followed the Dow and Exxon. Something must be going on, I believe they signed a contract with Iraq which made their market cap go up which means a soon Cha-ching!!!!!

Folks something is going on with Exxon. They reached an alltime high in their stock price. Look at the surge that happened to them. It looks like a pennystock surge. Rising that much with their high stock price is amazing. We all know that Exxon has been sitting in Iraq since March 07 but I wonder if they finally signed contracts which sent their stock soaring.




Their stock is at an all time high.




My conclusion is that these things never happen to the big boards but something happened.

Originally Posted by Bill

Good post Strongtower. Good to see people from Nashville Mid Tenn area. Maybe we can have our own party. I found it a little strange that the day the Pres speaks and all the rambling from the dems the market went up. This has to be a good thing. Well thanks again.

You know I know where he is. lol. Also I was wondering if anyone heard of Fox all morning of Malilki stating, "The US Troops can leave at anytime Now"? I heard the live Translation earlier this morning and was astonished with the statement. I made a few calls and got very exciting opinions.

Originally Posted by wellwishes

StrongTower, thanks for this info.

I say absolutely! Exxon has signed contracts and is now in production. Something big had to happen to cause their stock to jump like that. Certainly not the usual good business news...something phenomenal.

It's definitely Iraq. Anything else would have been broadcasted. ALWAYS within a day or two, a substantial stock move is followed by news of what caused the move...nothing in this case...could only be sensitive info. Definitely Iraq.

People need to be more non-sha-nawnt now.

Originally Posted by neno

You know I know where he is. lol. Also I was wondering if anyone heard of Fox all morning of Malilki stating, "The US Troops can leave at anytime Now"? I heard the live Translation earlier this morning and was astonished with the statement. I made a few calls and got very exciting opinions.

Wow !! how do you think this will play out ....Bush has always said we are there welcomed by the Gov.......this will be very interesting.....

Originally Posted by Bubba Dinar

Yes!! They're all in there setting up and hiring people.. Its a mad scramble to find enough qualified people.. I'm sure they are about 30 Companies in there in all stages of exploration,, locking in drill sites and setting up equipment.. Production? [color=red]Probably about two years out...before oil is flowing into pipe-lines...[/size]

Very true in trying to find the qualified people. What gets me is Iraq has plenty of qualified people. they have the Oil Unions, I believe it is the trust being harder in the finding of the qualifed individuals. Where I grew up neighbor is leaving this year for Halliburton to work there. The offer was a no lock back one. My own two boys in fields, their companies have been approached with going after some of their employees. So Production in two Years. I have to disagree with you on that one Bubba D. I also now another that has brother over there with a Private company been working on the piplines for over two years now. He has always stated, "When these lines start to fill, so will my pockets". And they work on the lines that are protected by the private contractors. So there again, 2 years IMHO is maybe for the 6 million barral aday Mark.

Originally Posted by oldskiier

Wow !! how do you think this will play out ....Bush has always said we are there welcomed by the Gov.......this will be very interesting.....

As I said I talked to some that follow this much more than I do now for other reasons. And this comment can only mean one thing. STABILLITY & SECURITY is coming together. We are welcome there by the people and the Government. But now Maliki has got to show the people he can stand alone at some point for the following.

Originally Posted by neno

Very true in trying to find the qualified people. What gets me is Iraq has plenty of qualified people. they have the Oil Unions, I believe it is the trust being harder in the finding of the qualifed individuals. Where I grew up neighbor is leaving this year for Halliburton to work there. The offer was a no lock back one. My own two boys in fields, their companies have been approached with going after some of their employees. So Production in two Years. I have to disagree with you on that one Bubba D. I also now another that has brother over there with a Private company been working on the piplines for over two years now. He has always stated, "When these lines start to fill, so will my pockets". And they work on the lines that are protected by the private contractors. So there again, 2 years IMHO is maybe for the 6 million barral aday Mark.

At 2,000 BBLs a day/well, they are going to need 2,000 more wells to get to 6,000,000 BBls. Each rig will be able to drill maybe 2 wells a year. There are only maybe 1,000 drilling rigs in the whole World. I bet only 100 rigs max will be in Iraq.. That means, only 200 New wells a year.. No way will they get to 3,000,000 BBlls a day before end of 2008..

I just want to say that I do not put my name on the line like a lot of people because I can't stand defending myself all the time. I have so much to do I don't have time to defend myself. My friend called me in March 07 and said he was in Iraq. I said what are you doing there. He works for Exxon I will add. He said they are sitting there waiting on the HCL to pass. He said they have many cargo ships already coming there with rigs and drill bits ready to drill. He said they are ready to hire 10,000 people immediately. There is a chance that it has already started. If I saw a surge in volume it would explain the stock surge. But volume remained the same which says their market cap surged. How did it surge? We will find out.!!!