Thread: That latest rumor of oil independence.

my own opinion is that iraq should keep all of its oil biz in house. more profits are generated w/lower overhead and min outsourcing. if it is true that under the proposed hcl that iraq only retaines 5% profit-then they should quash the deal. i dont know what the true profit margin is -but as a consultant-the IDEA behind the new rumor is ok. again the IDEA. i disagree w/the rest of it. i have read all 200+ pages. not 1 of my factual challenges has been answered.

You gotta be kiddin me guys. There were hundreds of rumors, that this RV will occur, none of them real (truly happened). And now 1 rumor that it's not going to happen has been released and you are already shaking like an old grandma in T-Mart.

Originally Posted by MunnyBaggs

If Iraq has decided they need a "bigger cut" so be it. Something tells me that the current HCL gives more to the big oil than Iraq is a liberal generated spin. This is intended to make it appear that the United States and Big Oil are "stealing" oil from Iraq. I simply don't believe it until it is outlined clearly from the official HCL.

The part that is disturbing about the rumour (and pretty much proves it is fake) is that Iraq is considering a Re-Val at a multiplier of Kuwaits Exchange rate. Since Kuwait is around $3 that would mean Iraq is considering a Re-Val to the $6, $9, or $12 level. Absolutely absurd with ZERO probability of happening. Bottom line is the CBI and IMF have both said in the last Letter of Intent that the value of IQD will be through a Gradual Growth method.

The more I read on these forums the more I think Munny is on the Money.Pun intended.

it so funny that these rumors seem come from a person or source that no longer frequents our forum, if I maybe allowed to plagerize one of more clever posters: this rumor comes from a " Cheeto's eating , cola guzzling , keyboard banging, shut in. I laughed so hard I peed, just a little. It will happen when it happens
benzboy out

Originally Posted by Inscrutable

I'm sure you have all heard this latest rumor that Iraq is not going to let big oil get in the mix and if you haven't heard it then you're one of the lucky ones.

If any of this had just one ounce of truth then what do you think Iraq will do to the speculators? If they screw big oil then we are definately out of luck no questions about it.

I don't want to cause panic with this thread and I hope it doesn't, simply because the OP of this rumor is not considered very credible in my eyes but I would like to see other opinions on the matter.

Please let's not bring the name or names of the rumor creators into the thread.

Looking forward to the input of all, especially some of the 171 lurkers who are not logged in. Log in and voice your opinion.

I work for a major oil company and had to chuckle at that one. The delusional BS that is being preached over there has to make you laugh.
Not a way in hell they can go through with the exploration, completions, production, and gathering without help from major oil. Sure you can hire some locals as trained monkeys and wrench turners, but the oil services sector has come a LONG ways in just the last 15 years. Besides, where are they going to get those diamond bits, mud-chemicals, directional tools, etc.. Dream on Alien, Trailer-Butch, and all the other used car salesmen over there.

Originally Posted by Bungalobill

I work for a major oil company and had to chuckle at that one. The delusional BS that is being preached over there has to make you laugh.
Not a way in hell they can go through with the exploration, completions, production, and gathering without help from major oil. Sure you can hire some locals as trained monkeys and wrench turners, but the oil services sector has come a LONG ways in just the last 15 years. Besides, where are they going to get those diamond bits, mud-chemicals, directional tools, etc.. Dream on Alien, Trailer-Butch, and all the other used car salesmen over there.

You may recall the rumor a few months ago was that all the equipment was already there. (This came from someone's uncle in Iraq). So supposedly the bit's mud mix etc are already in place. Even seismic shaking was witnessed.

Originally Posted by Inscrutable

I'm sure you have all heard this latest rumor that Iraq is not going to let big oil get in the mix and if you haven't heard it then you're one of the lucky ones.

If any of this had just one ounce of truth then what do you think Iraq will do to the speculators? If they screw big oil then we are definately out of luck no questions about it.

I don't want to cause panic with this thread and I hope it doesn't, simply because the OP of this rumor is not considered very credible in my eyes but I would like to see other opinions on the matter.

Please let's not bring the name or names of the rumor creators into the thread.

Looking forward to the input of all, especially some of the 171 lurkers who are not logged in. Log in and voice your opinion.

I don't quite understand how you think and I quote "If they screw big oil then
we are out of luck" I have not read one post on any forum about doing away with big oil [ i could have missed it though ] I think what the Iraq people want to do is contract out the work. Example: Exxon is contracted out to drill a well and the deal they work out is Iraq'S get 85% of the proceeds and exxon gets 15% plus the cost for exploration and drilling. It is a win win deal. The Iraq people get the biggest part big oil gets there share and we have a Dinar worth about $5.00 or more.

Originally Posted by Inscrutable

You may recall the rumor a few months ago was that all the equipment was already there. (This came from someone's uncle in Iraq). So supposedly the bit's mud mix etc are already in place. Even seismic shaking was witnessed.

I can't even look at that other forum, their rumors are too far out there!

We all need to remember that there are other oil companys out there.. There are going to be a lot of smaller companys in the hunt for money also. The idea of Iraq wanting to keep all the oil and contracting out the drilling and exploration is not really a bad thing. I workeed for a company that drilled for China for 7% of the money plus cost. Drilled 16 wells and was producing somewere ariund 22,000 Barrells a day. I did the math at $55.00 A barrell and it was $3.85 times 22,000= $84,700 a day. In Iraq it is cheaper to recover. I think if Iraq does what the rumors are saying and keep most of the mpney then we are going to be rich. The rumor of $9.00 to $10.00 per Dinar would not be that far out of line. Although maybe in a couple of years.. JMHO Bill

What's being spouted over there is pure BS. Some of them are even saying they'd go out and buy more to encourage newbies. Not right. Unfortunately it's blind leading the blind. Some here should never have been made moderators and running off old time posters who were respected by most on the forum for factual information and not rumour BS to bolster sales.

Some am sure are thinking the fact the BS merchants have moved on taking their merry men was always going to happen.

To put it into perspective, the HCL is not passed. Kurds yes, but not the GOI HCL..........

Debt from Saudi and Russia is not resolved a some are stating...............

RV over the curfew period?! Do us a favour, no chance. But ample opportunity for gullible ones to buy last minute dinar........

Iraq going it alone? Fat chance. Some really believe this is likely. And even if it was not only would they screw big organisations but they'd most likely screw speculators too and reprint. Noone seems to understand or address that.......

RC, seems so quiet these days, perhaps it is better to be quiet than to be used for some peoples personal gains..........