Thread: Has Exxon already signed oil contracts now?

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.

Just a weird thought struck me...

Remember back to when the oil Conference was to be on May 29th? For about three weeks before that Standard Oil was the big player (as to their personal connection with Condi Rice - she served on their board of director's at one time) and they were bragging on their website and in the press about about how they were to be the main player in the new Iraqi Oil Industry?

Now this about Exxon...

Wouldn't it be a shame that the real holdup on the HCL were to turn out to be a turf war between supporters of Standard Oil (the State Department's choice) and Exxon?

It would make a lot of sense in retrospect to explain the hold up between the Kurds & the Central Government...as the Kurds have always had very close relations and has been a main player in supporting US positions of policy...

JUST A THOUGHT?!?

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.

Good posts and hello to my fellow Tennesseans!

I've been studying their chart and if you look at this weeks volume. Tuesday and Friday were their biggest days. They did not have a volume surge like most stocks which sends their price soaring. They rose almost $5.00 for nothing. They could of signed something which made their market cap rise to 508.85 billion.

The text of the draft law of oil and gas rate approved-(on Wenesday)-the day Exxon's stock went crazy

(صوت العراق) - 11-07-2007(Voice of Iraq) - 11-07-2007
ارسل هذا الموضوع لصديقSend this topic to a friend

نص مشروع قانون النفط والغاز المعدل الذي أقره مجلس النواب العراقي وصادق عليه مجلس الرئاسة The text of the draft law of oil and gas rate approved by the House and endorsed by the Iraqi Presidential Council

Sotaliraq.com


الجزء الاولPart I
باسم الشعبThe name of the people
مجلس الرئاسةThe Presidency
بناء على ما أقره مجلس النواب وصادق عليه مجلس الرئاسة واستنادا الى احكام البند(اولا) من المادة(61) والبند(ثالثا) من المادة(73) والمادة (112) من الدستور، صدر القانون الآتي: Based on the approved by the House and approved by the Presidency based on the provisions of item (I) of article (61) and item (III) of Article (73) and Article (112) of the Constitution, issued the following law :
رقم( ) لسنة 2007(No.) for 2007
قانون النفط والغازThe oil and gas
الباب الأولPart I

Originally Posted by strongtower

I've been studying their chart and if you look at this weeks volume. Tuesday and Friday were their biggest days. They did not have a volume surge like most stocks which sends their price soaring. They rose almost $5.00 for nothing. They could of signed something which made their market cap rise to 508.85 billion.

The text of the draft law of oil and gas rate approved-(on Wenesday)-the day Exxon's stock went crazy

(صوت العراق) - 11-07-2007(Voice of Iraq) - 11-07-2007
ارسل هذا الموضوع لصديقSend this topic to a friend

نص مشروع قانون النفط والغاز المعدل الذي أقره مجلس النواب العراقي وصادق عليه مجلس الرئاسة The text of the draft law of oil and gas rate approved by the House and endorsed by the Iraqi Presidential Council

Sotaliraq.com


الجزء الاولPart I
باسم الشعبThe name of the people
مجلس الرئاسةThe Presidency
بناء على ما أقره مجلس النواب وصادق عليه مجلس الرئاسة واستنادا الى احكام البند(اولا) من المادة(61) والبند(ثالثا) من المادة(73) والمادة (112) من الدستور، صدر القانون الآتي: Based on the approved by the House and approved by the Presidency based on the provisions of item (I) of article (61) and item (III) of Article (73) and Article (112) of the Constitution, issued the following law :
رقم( ) لسنة 2007(No.) for 2007
قانون النفط والغازThe oil and gas
الباب الأولPart I

I hear that they are all moving in and setting up now!! You snooze--You looze!!

Originally Posted by fredgwest1999

Just a weird thought struck me...

Remember back to when the oil Conference was to be on May 29th? For about three weeks before that Standard Oil was the big player (as to their personal connection with Condi Rice - she served on their board of director's at one time) and they were bragging on their website and in the press about about how they were to be the main player in the new Iraqi Oil Industry?

Now this about Exxon...

Wouldn't it be a shame that the real holdup on the HCL were to turn out to be a turf war between supporters of Standard Oil (the State Department's choice) and Exxon?

It would make a lot of sense in retrospect to explain the hold up between the Kurds & the Central Government...as the Kurds have always had very close relations and has been a main player in supporting US positions of policy...

JUST A THOUGHT?!?

Isn't Standard Oil and Exxon the same company?

Arkie.

Originally Posted by strongtower

I've been studying their chart and if you look at this weeks volume. Tuesday and Friday were their biggest days. They did not have a volume surge like most stocks which sends their price soaring. They rose almost $5.00 for nothing. They could of signed something which made their market cap rise to 508.85 billion.

The text of the draft law of oil and gas rate approved-(on Wenesday)-the day Exxon's stock went crazy

(صوت العراق) - 11-07-2007(Voice of Iraq) - 11-07-2007
ارسل هذا الموضوع لصديقSend this topic to a friend

نص مشروع قانون النفط والغاز المعدل الذي أقره مجلس النواب العراقي وصادق عليه مجلس الرئاسة The text of the draft law of oil and gas rate approved by the House and endorsed by the Iraqi Presidential Council

Sotaliraq.com


الجزء الاولPart I
باسم الشعبThe name of the people
مجلس الرئاسةThe Presidency
بناء على ما أقره مجلس النواب وصادق عليه مجلس الرئاسة واستنادا الى احكام البند(اولا) من المادة(61) والبند(ثالثا) من المادة(73) والمادة (112) من الدستور، صدر القانون الآتي: Based on the approved by the House and approved by the Presidency based on the provisions of item (I) of article (61) and item (III) of Article (73) and Article (112) of the Constitution, issued the following law :
رقم( ) لسنة 2007(No.) for 2007
قانون النفط والغازThe oil and gas
الباب الأولPart I

Thanks Strongtower Where there's smoke there's fire.

Arkie.

Originally Posted by Arkie

Isn't Standard Oil and Exxon the same company?

Arkie.

Successor companies to the Standard Oil Trust (post-1911) include:

• Standard Oil of New Jersey (SONJ) - or Esso (S.O. or Eastern States, Standard Oil) - renamed Exxon, now part of ExxonMobil. Standard Trust companies Carter Oil, Imperial Oil (Canada), and Standard of Louisiana were kept as part of Standard Oil of New Jersey after the breakup.
• Standard Oil of New York - or Socony, merged with Vacuum - renamed Mobil, now part of ExxonMobil.
• Standard Oil of California - or Socal - renamed Chevron, became ChevronTexaco, but returned to Chevron.
• Standard Oil of Indiana - or Stanolind, renamed Amoco (American Oil Co.) - now part of BP.
• Standard's Atlantic and the independent company Richfield merged to form Atlantic Richfield or Arco, now part of BP. Atlantic operations were spun off and bought by Sunoco.
• Standard Oil of Kentucky - or Kyso was acquired by Standard Oil of California - currently Chevron.
• Continental Oil Company - or Conoco now part of ConocoPhillips.
• Standard Oil of Ohio - or Sohio now part of BP.
• The Ohio Oil Company - more commonly referred to as "The Ohio", and marketed gasoline under the Marathon name. The company is now known as Marathon Oil Company, and was often a rival with the in-state Standard spinoff, Sohio.

See also Seven Sisters (oil companies)
Other Standard Oil spin-offs:

• Standard Oil of Iowa - pre-1911 - became Standard Oil of California.
• Standard Oil of Minnesota - pre-1911 - bought by Standard Oil of Indiana.
• Standard Oil of Illinois - pre-1911 - bought by Standard Oil of Indiana.
• Standard Oil of Kansas - refining only, eventually bought by Indiana Standard.
• Standard Oil of Missouri - pre-1911 - dissolved.
• Standard Oil of Louisiana - always owned by Standard Oil of New Jersey (now Exxon).
• Standard Oil of Brazil - always owned by Standard Oil of New Jersey (now Exxon).
• Standard Oil of Colorado - a scam to cash in on the Standard Oil brand in the 1930s.
• Standard Oil of Connecticut - A fuel oil marketer in Connecticut not related to the Rockefeller companies

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.