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Anyone here have an opinion on how the release of new oil reserves today will affect valuation?

RichNick123

By RichNick123,
in Dinar Rumors

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RichNick123 Newbie

RichNick123

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Iraq is due to release the updated findings of their current oil reserves, untapped, some time this morning. Anybody here have a clue as to how this will affect revaluation? Certainly it would have to be true if they have found a marked increase of the known 115 billion barrels to say double that to 230 or above it would have to cause some effect, right?

The country's valuation due to natural resources would have to add value to the currency, would it not? Really curious to see what you guru's, no pun intended, think about this. Thanks in advance!

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muchodinaro Newbie

muchodinaro

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Iraq is due to release the updated findings of their current oil reserves, untapped, some time this morning. Anybody here have a clue as to how this will affect revaluation? Certainly it would have to be true if they have found a marked increase of the known 115 billion barrels to say double that to 230 or above it would have to cause some effect, right?

The country's valuation due to natural resources would have to add value to the currency, would it not? Really curious to see what you guru's, no pun intended, think about this. Thanks in advance!

I'm not a guru, but If they have double the oil, I think that the $ 2.00 range ( Phoenix stated ) looks very realistic. It also bodes well for the $ 3.22 reinstatement rate. Remember Shabibi, said that Iraq is rich ( eventually ). If these oil findings are correct, eventually is now! Gooooooo RV/RI!

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RichNick123 Newbie

RichNick123

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I'm not a guru, but If they have double the oil, I think that the $ 2.00 range ( Phoenix stated ) looks very realistic. It also bodes well for the $ 3.22 reinstatement rate. Remember Shabibi, said that Iraq is rich ( eventually ). If these oil findings are correct, eventually is now! Gooooooo RV/RI!

found this on the LOP board posted by REDRV, incredible if true!

"FIRST TIME POSTER" WIKIPEDIA STATES NEW GEOLOGICAL SURVEYS SHOW 500BILLION IN OIL RESERVES http://en.wikipedia....eserves_in_Iraq SO DOES THIS MEAN

Read more:

What would an additional 385 billion barrels make the iraqi valuation come to??

Here is part of the Wikipedia article:

Oil reserves in Iraq will be the largest in the world according to recent geological surveys and seismic data.[1] The Iraqi government has stated that new exploration showed Iraq has the world’s largest proven oil reserves, with more than 500 billion barrels.[1] Officially confirmed reserves rank third largest in the world at approximately 115 billion barrels (18.3×10^9 m3).[citation needed]

As a result of military occupation and civil unrest, the official statistics have not been revised since 2001 and are largely based on 2-D seismic data from three decades ago. International geologists and consultants have estimated that unexplored territory may contain vastly larger reserves.[2]

Possible someone got the info before the press release today, or just speculation??

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RichNick123 Newbie

RichNick123

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it would be great if confirmed , especially before rv.

Help me here if my thinking is flawed, which it usually is!

If Iraq truly has 500 billion barrels of oil that is underground, and it can be pumped, then the following should be reasonable.

1. At current market of 70 USD per barrel, this would equal 35 trillion dollars.

2. Iraq has 25 trillion Dinar on the worldwide market and in country combined.

3. If the oil reservesare worth 35 trillion, this would allow the Dinar to be valued at 1.40 USD each, just based on oil valuation. ie, 35 trillion divided by 25 trillion is 1.4.

I think I could live with a 1.40 revaluation of the Dinar!

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JugDawg1 Newbie

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According to some of the folks on this site, it SHOULD help with the value. It seems kinda obvious BUT who knows with those guys over there. You're just gonna have to hang in there with the rest of us until it comes out. Sorry about the meagerness of the info but even the pro's from Dover aren't 100% agreed on this. The announcement should be good though. OH PLEASE, OH PLEASE, OH PALEASE! :)

Check out some of the stuff in the Chat Room. Phoenix, Mailman, Med, etc. They seem pretty sharp on this. Good luck bud.

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RichNick123 Newbie

RichNick123

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Ya, lots of dates and beans over there. :D

One other thing we may want to remember, we have been told that somehow the 3 trillion dollars spent on the war in Iraq would be repaid or returned. At 1.40 revaluation the 5 trillion Dinar the US government holds would become worth 7 trillion dollars. Talk about doubling your money! Who say's that war does not pay?

I say that not to belittle our men and women in uniform who have made great sacrifices as well as their families. We thank you for your service and honor that you you have so graciously given. I do however think that our leaders have a different take on worldwide events and would not think twice about profiting off of such events.

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JugDawg1 Newbie

JugDawg1

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One other thing we may want to remember, we have been told that somehow the 3 trillion dollars spent on the war in Iraq would be repaid or returned. At 1.40 revaluation the 5 trillion Dinar the US government holds would become worth 7 trillion dollars. Talk about doubling your money! Who say's that war does not pay?

I say that not to belittle our men and women in uniform who have made great sacrifices as well as their families. We thank you for your service and honor that you you have so graciously given. I do however think that our leaders have a different take on worldwide events and would not think twice about profiting off of such events.

Maybe I took you wrong on this but I said nothing about our guys and gals. Either the ones that were there or the ones still there. I love em all.....

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RichNick123 Newbie

RichNick123

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Maybe I took you wrong on this but I said nothing about our guys and gals. Either the ones that were there or the ones still there. I love em all.....

Good Lord no! You took it wrong. I used the phrase War does not pay, I wanted to make clear I was not using that statement in a way to offend anyone who has served in our military.

I though the dates and beans was funny!!

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oildriven Newbie

oildriven

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Oil: Stocks of crude oil under the ground of 505 billion barrels

Editor: CC | NQ

Monday, 2004 v 1 2010 08:04 GMT

Alsumaria News / Baghdad

The Ministry of Oil in Baghdad, Monday, the stock of Iraqi crude oil under the ground of 505 billion barrels, with proven reserves of recoverable 143 billion barrels.

Said Oil Minister Hussain al-Shahristani told a press conference at the ministry in Baghdad to announce the new oil reserves of Iraq and attended "Alsumaria News", "The process of counting inventory Iraqi oil has been in cooperation with international oil companies," noting that "oil reserves can be increased in the event of continuing the process of exploration. "

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I think the estimated number of barrels underground of 505 billion is the most important number. This will justify to the IMF a higher RV.

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Now does anyone think for a second we didn't know this volume of oil wasn't there before taking over their country????? Everything about oil and war = Money to our politicians. Not saying what we did was right or wrong.

GO RV !!!!!!!!

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RichNick123 Newbie

RichNick123

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Here are the wildcards. Kuwait revalued today as the most expensive currency in the world at 3.45 to 1 USD. With the announcement of an additional 25% of easily recoverable oil reserves this brings Iraq to 143.1 billion barrels of oil. I think you can see a RV of anywhere between .46 USD, the amount of oil at $81.00 a barrel which brings just over 11 trillion dollars divided by the 25 trillion Dinar on the market, or 1.72 USD, half of the Kuwaiti value. I base this on Kuwait having repaired their infrastructure and economy after the invasion, something Iraq must still deal with. Winniing situation either way!

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