Afren Confirms MAJOR Oil Discovery In Kurdistan Region !

[DinarThug]

CNN. Broadcasting Actual Real News !

AFREN CONFIRMS MAJOR OIL DISCOVERY IN KURDISTAN REGION

17/05/2012 14:22 ERBIL, May 17 (AKnews) – British oil and gas company Afren has released details of a “transformational” oil discovery in the Kurdistan Region, which has helped the company’s shares rise more than 10 percent.

Afren confirmed the significant discovery in Simrit oil field within the Ain Sifni license area and indicated “strong hydrocarbon shows”. The area is believed to be a large reservoir of light oil in the north Iraqi block.

The find represents the second exploration success for Afren this year, reported the Financial Times.

Afren chief executive Osman Shahenshah said: “The scale of the oil column that has been intersected suggests that the Simrit structure and surrounding prospects elsewhere on the Ain Sifni PSC [license] have the potential to be transformational for Afren.”

Simrit was previously estimated to contain up to 917m barrels of oil. Afren has a 20-percent stake in the field and a 60-percent stake in the neighboring Barda Rash license area.

By Hemn Hadi

DM/AKnews

LINK

[zigmeister]

And all this time I thought Afrin was nose spray.

[tilak]

Why don't they discover a new Exchange Rate for the Dinar while they are at it?

[Bongalow]

Its all THUGERY!!!!!!! Love it!!

http://www.youtube.com/watch?v=Y9KC7uhMY9s

[thesjeske]

And all this time I thought Afrin was nose spray.

We are going to need it for a Post RV drip!

[zigmeister]

We are going to need it for a Post RV drip!

Thats a drip I could use.

[EternalReality]

Simrit was previously estimated to contain up to 917m barrels of oil.

What is a "transformational" discovery, if this is how much oil they had before. I'm guessing they found the mecca of oil here, but that's nothing no body knew already, Iraq I mean.

917 x 2 would be 1.8 billion barrels, but I'd go as far to say they found more than that...

Edited May 18, 2012 by EternalReality

[welcome007]

Why don't they discover a new Exchange Rate for the Dinar while they are at it?

lol yes

[Tirebiter]

To quote the ever articulate Sgt Schultz "I know Nothing!". However, that doesn't mean I don't have an opinion. News has been slow. More oil finds are great for the country long term. I really think Iraq's economy is going to grow slowly. They have a lot of potential and considerable resources, but they can't get their act together to for lack of a better analogy, "pimp them for profit".

They can have all the "potential" in the world, but right now, with the scramble over the problems with the global economy, combined with Iraq's inability to politically and socially come together for the good of their country, I see this as lasting awhile. Please don't get me wrong, I'm still totally convinced this is a great investment. I just think it is going to take awhile before they get their act together and the world monetary funds to settle down to allow an RV to happen. I hope I'm wrong, but every country appears to be looking out to protect themselves more than invest in other countries. It will happen, I'm convinced. But I feel unless Iraq decides to take the bull by the horns and determine their own destiny it may take a bit yet. jmo.

[EternalReality]

We're all entitled to our opinion, but to say that Iraq is not in control of their own destiny is a presumption, that may or may not, has been or will be, true. No one really knows when this will crack, except maybe a handful of people, and God.

Edited May 18, 2012 by EternalReality

[Tirebiter]

We're all entitled to our opinion, but to say that Iraq is not in control of their own destiny is a presumption, that may or may not, has been or will be, true. No one really knows when this will crack, except maybe a handful of people, and God.

I agree 100%. But just like any world economy, I think the way things are in the worl financial markets right now are slowing down their ability to grow at a faster rate. Thanks for the response. I agree with you.