Significant Natural Gas Field Discovered

[spy]

I'm putting this in rumors because I don't know for sure how legit it is, but it sounds good...

* Stratfor News – Significant Natural Gas Field Discovered 1/26/11

January 27, 2011 08:40 am · Posted in NEWS (Iraq & World Currency) · Comments Off

Iraq: Significant Natural Gas Field Discovered

January 26, 2011

Heritage Oil Plc announced the discovery of the largest natural gas field in Iraq in more than 30 years, Bloomberg reported Jan. 26. The Miran West-2 well in the Kurdistan region uncovered a geologic structure that may hold up to 12.3 trillion cubic feet of natural gas and 75 million barrels of oil, according to Heritage.

[DarkShinobi76]

I'm putting this in rumors because I don't know for sure how legit it is, but it sounds good...

* Stratfor News – Significant Natural Gas Field Discovered 1/26/11

January 27, 2011 08:40 am · Posted in NEWS (Iraq & World Currency) · Comments Off

Iraq: Significant Natural Gas Field Discovered

January 26, 2011

Heritage Oil Plc announced the discovery of the largest natural gas field in Iraq in more than 30 years, Bloomberg reported Jan. 26. The Miran West-2 well in the Kurdistan region uncovered a geologic structure that may hold up to 12.3 trillion cubic feet of natural gas and 75 million barrels of oil, according to Heritage.

Well spy, here are links that do substantiate the find:

http://www.bloomberg.com/news/2011-01-26/heritage-oil-announces-large-gas-find-in-iraq.html

http://online.wsj.com/article/SB10001424052748703293204576105722221768948.htm

So I don't think it's a rumour... According to the reports I've read, the company in question and its investors are disappointed because they were hoping to find oil and not gas...

[detroitjazzman]

this is the stuff dreams are made of...

[200pete]

what does news like this even mean with the RV.

[liquidsilver]

More natural resources to back a big RV rate!

[BJinMontreal]

what does news like this even mean with the RV.

It would increase the amount of oil and natural gas reserves on which a country's currency could be based. The more oil and natural gas reserves Iraq has, the higher the value of their currency can be.

[spy]

what does news like this even mean with the RV.

I just think it bolsters the fact that Iraq has many untapped natural resources that all play a role in how much the dinar is worth

[Kaduku]

WOW, 12.3 Trillion Cubic Feet of Gas reserves. This will DEFINITELY drop the price of gas, and HOPEFULLY RAISE THE DINAR VALUE TO 3.85 TO 4.50. GOOOO RV!!!!!!!!!!!!!!!

[Thor363]

WOW, 12.3 Trillion Cubic Feet of Gas reserves. This will DEFINITELY drop the price of gas, and HOPEFULLY RAISE THE DINAR VALUE TO 3.85 TO 4.50. GOOOO RV!!!!!!!!!!!!!!!

Natural gas reserves... A great find, but mostly for use within country.

At least that will be useful for home heating/cooking, and possibly even electricity generation I suppose...which is sorely needed.

Nice find though. Thanks for posting!

[Crow]

doesnt matter how much gas and oil they have if the government doesnt get its crap together!! They are starting to fight now....not good for us!!!!