Fearless Four

Thanks Easy, nice find...were getting closer!

Thanks for the chat Adam...

The criticism comes after U.S. senators voted Monday to open a week of debate on the bill that would allow the government to impose additional duties on products from countries that subsidize exports by undervaluing their currencies. http://news.yahoo.com/china-us-currency-bill-repercussions-090135830.html

Yes, this is good news...keep posting!

172,501,000

WesternZagros Resources has received approval to begin producing its first oil through an extended well test at its Sarqala-1 oil discovery. Drilling at Mil Qasim-1, the Company’s third exploration well, is proceeding ahead of schedule. “We are delighted to commence our extended well test at Sarqala-1 sooner than anticipated. The acceleration of the next phase of testing will determine the maximum sustainable production of the Jeribe Discovery, and will enable us to deliver our first light crude oil to market by truck, providing initial cash flow to the Company. This is a milestone event for us; one which will position WesternZagros for the first time as a producing company in one of the world’s most prospective exploration areas,” said Simon Hatfield, Chief Executive Officer (pictured). Sarqala-1 Discovery Well Update WesternZagros has received approval from the Ministry of Natural Resources of the KRG to start the extended well test at Sarqala. Current plans are to commence production from the Sarqala-1 well in October at approximately 2,000 barrels of oil per day (“BOPD”) and increase production up to approximately 5,000 BOPD by the end of 2011. The crude oil will be trucked during this extended test and likely sold on the domestic market. The Sarqala-1 well initially tested 40 degree API crude oil at rates of over 9,000 BOPD at a wellhead pressure of approximately 2,400 pounds per square inch. The well was not stimulated and is expected to continue to clean up and increase production capability during the test. A recent report by Fekete Associates, an independent petroleum reservoir engineering company, calculates the Sarqala-1 well maximum theoretical absolute open flow (the “AOF”) for the Jeribe reservoir through the existing tubing to be 11,070 BOPD. The well capability is currently limited by tubing size, and production could be increased to a maximum theoretical AOF of 13,640 BOPD by increasing the tubing size. WesternZagros will utilize the information gathered from this extended well test in determining future appraisal and development activities, including the potential for increasing production beyond 5,000 BOPD. Future appraisal and development well designs will allow for higher capacity tubing and potentially horizontal completions to take advantage of the demonstrated high deliverability from the Jeribe reservoir. Mil Qasim-1 Exploration Well Update Mil Qasim-1 is the Company’s third exploration well. WesternZagros spudded the well on August 29, 2011. Drilling is currently ahead of schedule and 20″ casing has been successfully run at approximately 750 metres. Currently, the Company is drilling ahead at approximately 1,200 metres and anticipates setting the next casing string at approximately 1,600 metres prior to drilling into the targeted Upper Fars Reservoir. In keeping with other wells drilled by WesternZagros, oil shows have already been encountered in the shallow section of the well drilled to date. Further updates will be provided as operations progress. http://www.iraq-businessnews.com/2011/09/27/westernzagros-accelerates-oil-production-timeline/

Project It seems that the steps taken by the Central Bank on the reform of the currency system began to take a serious turn towards the application, particularly with regard to lifting the zeros from the Iraqi currency, or what is known as the nominal switch of the old currency (current) and change a new currency (in the near future). This was confirmed to me slowly, and I follow this file since it was launched, and multiple Tagelath. Recent developments that give signals that the countdown for the project has become the moments of peak recently, is that the recent meeting that brought together the Central Bank Governor; Shabibi, with Mr. Haider Abadi, the Finance Committee of the Council of Representatives, where they discussed what could be called the “touches the final project,” and thank him that those discussions touched on the most important thing in this project and its details Kalmttlebatt legal, accounting and procedural preparations, and central printing and transporting and distributing the new currency. Observation that struck me the most important and which prove that the project approval process as one of the phrase “reasons”, which is usually a discussion on the approach of the final version of any law. What counted this time to central bank’s relationship with the Council of Representatives is the general feeling relationship harmony that seem prevalent between them, a relationship we have lost the like between the central government, which turned out to be the intersection of the break and reached a peak of government’s attempt to “disarm” the status of independence from the central. Apparently, the “soft war” between the two are still going on, which can be found in the statements of the Central itself, where he as put the draft lifting of the zeroes to the parliament, confirms that “the new currency is expected to work out can not be falsified”, while the Central the other hand, gives signals lined the need to “protect the local currency of the mafias specialized fraud” in the words of the official spokesman for the project raise zeros Mr. appearance of Mohammed Saleh, who asserts that “the Iraqi government claim to prosecute mafia currency trying to use the project to restructure the currency viscous scores of billions of counterfeit dinars, “which he stresses, explaining that” the economic security of allocated central government, not because he is drawing on monetary policy in the country. “ The last can be cited in this regard that the central lead ship of the draft lifting of the zeroes on the rhythm of quiet, and rudder key for this ship is the inventory of game comments but “speaking” one exchange roles sometimes with the governor, a move that will be the main goal it to maintain not to spoil this project is sensitive, which may result in a tactical error which to provoke a wave of negative reactions on the entire project, a project that may have positive effects significant in the event of the command ship survived smoothly to safety, while the hurdles the project before its completion may be catastrophic and costly to the economy and the central and Characters. Ship of the Central swim in the sea powers, will meet! Maytham Laibi http://bit.ly/noI8Iz

Everyone knows what the Guru posts look like...please stop reading them...I admit I did for a few months... but will never read one word of that BS again!

More time to buy Dinar! and yes..IMO...This is smoke...

Thanks for posting, looks like Iraq only has one way to go.

More wasting of money...shame.

─ ─ ─ ─ ─ ─ ▄ ▌ ▐ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▌ ─ ─ ─ ▄ ▄ █ █ ▌ █ ░ ♥ ░ 9/11 VICTIMS & THEIR FAMILIES ░░ ♥░ ░▐ ▄ ▄ ▄ ▌ ▐ █ █ ▌ █ ░ ♥ ░ ░░ WE WILL NEVER FORGET ░░░ ░ ♥░ ░▐ █ █ █ █ █ █ █ ▌ █ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▄ ▌ ▀ (@) ▀ ▀ ▀ ▀ ▀ ▀ ▀ (@)(@) ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ ▀ (@) ▀ ▘ TO ALL WHO LOST LOVED ONES AND TO THE HERO'S!!!

The Government cant even run the Post Office, so there you go!

The word scam is used to get people to read his article, it is used on every investment, opportunity to attract readers and comments.

Old article, and just someones opinion...writer needs to study a bit more. imo

Great article, thanks for posting!

Posted on 06 September 2011. Tags: CBI, Central Bank, currency reserves, dinar, iraqi dinar, Redenomination The deputy governor of Iraq’s central bank has announced that foreign currency reserves have risen to close to $58 billion, and are expected to increase further thanks to a rise in oil revenues. Mudher Kasim said higher global oil prices could result in a budget surplus for 2011. Reuters quotes him as saying, “(The amount of reserves) has gradually increased since the beginning of last year, when it was $40 billion. Now it is close to $58 billion”, while AlsumariaTV puts the opening figure at $50 billion. Last October, Kasim had put reserves at around $50 billion, with 45 percent held in dollars, 45 percent in euros and 10 percent mainly in gold and British pounds. Iraq earned $34.1 billion in oil revenue, an increase of $8.7 billion, or 34 percent, over budgeted revenue, in the first five months of this year, Deputy Prime Minister Hussain Al-Shahristani said in June. The deputy governor said inflation — which quickened to 7.1 percent in July from 6.4 percent in June — was under control but being monitored carefully. Iraq, battered by years of war and economic sanctions, depends mainly on imports for most goods, including food and building materials. “If prices continue to increase and the inflation rate approaches two digits, monetary policy tools will be strongly activated to fight inflation,” he said. Kasim said a plan to take off three zeroes from Iraq’s currency to simplify financial transactions was awaiting parliamentary approval and said the government should approve the project sooner rather than later. (Sources: Reuters, AlsumariaTV) Link: http://www.iraq-businessnews.com/2011/09/06/iraq-58bn-in-currency-reserves-should-redenominate-soon/

We Have...Half Price on Menu...yummmm

Wrong Guy...

According to reports from Al-Sabaah, the Central Bank of Iraq is planning to make its new currency forgery-proof. Central Bank Governor Sinan al-Shabibi claims that the new currency’s attributes will make it ‘difficult’ to falsify, and says that the project to delete the three zeros, if implemented, will enhance the value of the Iraqi dinar against other currencies. The Central Bank and the Finance Committee in the House of Representatives agreed to hold further meetings to finalize discussions on the project. http://www.iraq-businessnews.com/2011/08/31/new-iraqi-dinar-to-be-harder-to-counterfeit/

Great work, thanks for the articles and insight.