Thread: Iraq/Dinar News to April 19, 2007 10PM CST

Originally Posted by pee wee

Y E S !!! the DINAR will be worth more than the dollar... and very soon !!!

Yes, Yes, Yes!!

Originally Posted by Socata 850

Number of banks 16 -----
Auction price selling dinar / US $ 1272 -----
Auction price buying dinar / US $ 1270 -----
Amount sold at auction price (US $) 80.675.000 -----
Amount purchased at Auction price (US $) 2.000.000
Total offers for buying (US $) 80.675.000 -----
Total offers for selling (US $) 2.000.000 -----


Gooooooooooooooood Morning Rolclub

"The More They Take, The More We Make"
"Stay the Course, its the difference between Winners and whiners"
(Posted with permission from KBush1961)


8.35 Trillion taken out and still the Party has not started


1. "0" Dinar rate change today, it was 1272, it is now 1272

2. A (net) worth of dinars, IQD - 100,074,600,000 pulled out of circulation today 4/15/07.

3. 16 banks participating today

4. 122nd auction since the beginning of CBI's reval plan

5. 197 days into the CBI's reval plan. (SIX MONTHS+)

6. 8,351,077,621,000 dinars pulled from circulation !!

6A. ESTIMATED Dinars still in circulation 8,648,922,379,000

7. "2,540,000,000" Dinars back into circulation today

8. 205 dinar change since Oct 1st (baseline was 1477) 13.879% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 0 point reduction in the rate so far this week. Was at 1272 at the end of last week, 1272 so far this week.

10. 1 point drop in the month of April. Ended at 1273 in March, now stands at 1272
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
In March we saw a .546% drop in the rate.

Thank you Socata 850. We have read many times that the CBI will continue to "tighten monetary ploicy". Almost any economics textbook will discuss ways to do this. especially to reduce inflation Such as:

Increase interest rates
Reduce the monetary base
raise reserve requirements
Increase exchange rate

So, I think we are on the right track. These things the CBI has done and will continue to do until a certain "level" is reached. After having read the reports of additional dinar being removed during 2006, I agree, there has been alot more taken out other than what we have been tracking since late Oct. Faced with the 77% inflation rate in Aug. They do have a plan and we are seeing it unfold. How much longer? We don't know. But all of things they are doing are excatly what they should have done faced with that situation. Everyone have a good weekend.

Originally Posted by pee wee

Y E S !!! the DINAR will be worth more than the dollar... and very soon !!!

Link?

Originally Posted by YogiBrood

Precisely, however and in the meantiome, that launching is still by far... quite a while to go, I won't reckon anywhere before Nov 2007... but thats my calculated view shared with many outside the forum and tracking closely from elsewhere too that are optimistic and certainly, ever cautious as well on a date no earlier than what I believe firmly in.

In the meantime, enjoy Bollywood movies I'd say.... or consider the Sponsorship we are offering here...

B. -

Link or more information please.

Dana Gas signs northern Iraq deal
by Reuters on Sunday, 15 April 2007

The UAE's Dana Gas has signed an agreement with Iraq's Kurdish regional government (KRG) to evaluate the development of the region's gas reserves, the company said in a statement on Sunday.

The deal may eventually lead to the semi-autonomous region in northern Iraq exporting gas to neighbouring countries.

Dana Gas also won a service contract from the regional authority for the rapid installation of processing and transmission facilities at the Khor Mor field to begin supplying gas for power generation by January 2008.

Dana Gas' initial investment commitment will be around $400 million. It marks the first entry of a Middle East company into the Iraqi energy sector since the U.S.-led invasion in March 2003.

Dana Gas and the government will draw up plans for a large gas-fed industrial complex, to be named Kurdistan Gas City, which may include petrochemical, metals and other heavy industry plants.

"This is a high level broad agreement whereby we work together with the regional government to develop the long-term plans for overall gas development and optimal utilisation," Dana Gas Business Development Director Majid Jafar told Reuters.

"There is an immediate need for power generation as a priority, there is also a strong desire to use this valuable resource to encourage industrial and broader economic development and job creation, and longer term there is also the possibility for potential exports, most likely by pipeline."

The Kurdish region has disagreed with some members of Iraq's central government over production sharing agreements (PSAs) it signed with oil companies such as Norway's DNO long before Iraq's cabinet endorsed a draft oil law in February.

The companies were exposed to the risk the contracts would be revised under the new law, which is still awaiting parliament's ratification.

Jafar said he was confident that the region was a sound investment prospect. Dana Gas' deal, as a service contract rather than a PSA, was unlikely to attract controversy, he said.

Dana Gas plans initial production of 150 million-200 million cubic feet per day (cfd) from the Khor Mor field, which was never fully developed and was shut after the first Gulf War in 1991. It will build about 180 km (111.8 miles) of pipelines for the gas with larger capacity to handle future increases in production and any additional discoveries.

The United Arab Emirates company aims to eventually double output from Khor Mor to 300 million cfd, depending on reserves that it finds in place. The UAE's largest publicly-traded energy company by market value will also make an appraisal study of the Chemchemal gas field.

An industry source estimated possible reserves at both fields of between 3 trillion to 4 trillion cubic feet, but said reserves could be much larger.

The gas will initially supply two power plants under construction near the cities of Arbil and Sulaimaniya.

"The Kurdistan region is in urgent need of natural gas as fuel for electricity generation projects that are long overdue and will benefit not only the people of the Kurdistan region but contribute to affordable electricity for the whole of Iraq," the prime minister of Iraq's Kurdistan region, Nechirvan Barzani, said in the statement.

Use of domestic gas for the region's power plants will save the region up to $1.5 billion as it substitutes the use of liquid fuels in generators currently used.

Dana Gas will be able to develop the project quickly as it will install a gas splitter it had already built and earmarked for another project.

That probably gave it an advantage over competitors for the service contract, who would have taken two years to build the infrastructure needed for gas production and processing, industry sources said.

Dana's investment could be the first of many by UAE companies in the Kurdish region.

"I know that other UAE companies from other economic sectors are looking at investing," Jafar said.

Dana Gas is the UAE's largest private-sector energy company by market value.

Dana's $1 billion acquisition of Centurion Energy in January made it one of Egypt's largest gas producers and was part of the UAE company's strategy to expand exploration and production of gas throughout the Middle East.

Dana will work with its affiliate Crescent Petroleum in the Kurdish region.

Crescent, which is a major shareholder in Dana, has other projects in Iraq.

Earlier in April, Crescent said it would work with Iraqi officials to study an oil exploration area in the country's south near the Kuwaiti border.

Crescent has also drawn up a development plan for Iraq's giant southern Ratawi field.

This explains how the KRG is signing some contracts as service contracts and not PSA.

Originally Posted by mustang sally

Dana Gas signs northern Iraq deal
by Reuters on Sunday, 15 April 2007

The UAE's Dana Gas has signed an agreement with Iraq's Kurdish regional government (KRG) to evaluate the development of the region's gas reserves, the company said in a statement on Sunday.

The deal may eventually lead to the semi-autonomous region in northern Iraq exporting gas to neighbouring countries.

Dana Gas also won a service contract from the regional authority for the rapid installation of processing and transmission facilities at the Khor Mor field to begin supplying gas for power generation by January 2008.

Dana Gas' initial investment commitment will be around $400 million. It marks the first entry of a Middle East company into the Iraqi energy sector since the U.S.-led invasion in March 2003.

Dana Gas and the government will draw up plans for a large gas-fed industrial complex, to be named Kurdistan Gas City, which may include petrochemical, metals and other heavy industry plants.

"This is a high level broad agreement whereby we work together with the regional government to develop the long-term plans for overall gas development and optimal utilisation," Dana Gas Business Development Director Majid Jafar told Reuters.

"There is an immediate need for power generation as a priority, there is also a strong desire to use this valuable resource to encourage industrial and broader economic development and job creation, and longer term there is also the possibility for potential exports, most likely by pipeline."

The Kurdish region has disagreed with some members of Iraq's central government over production sharing agreements (PSAs) it signed with oil companies such as Norway's DNO long before Iraq's cabinet endorsed a draft oil law in February.

The companies were exposed to the risk the contracts would be revised under the new law, which is still awaiting parliament's ratification.

Jafar said he was confident that the region was a sound investment prospect. Dana Gas' deal, as a service contract rather than a PSA, was unlikely to attract controversy, he said.

Dana Gas plans initial production of 150 million-200 million cubic feet per day (cfd) from the Khor Mor field, which was never fully developed and was shut after the first Gulf War in 1991. It will build about 180 km (111.8 miles) of pipelines for the gas with larger capacity to handle future increases in production and any additional discoveries.

The United Arab Emirates company aims to eventually double output from Khor Mor to 300 million cfd, depending on reserves that it finds in place. The UAE's largest publicly-traded energy company by market value will also make an appraisal study of the Chemchemal gas field.

An industry source estimated possible reserves at both fields of between 3 trillion to 4 trillion cubic feet, but said reserves could be much larger.

The gas will initially supply two power plants under construction near the cities of Arbil and Sulaimaniya.

"The Kurdistan region is in urgent need of natural gas as fuel for electricity generation projects that are long overdue and will benefit not only the people of the Kurdistan region but contribute to affordable electricity for the whole of Iraq," the prime minister of Iraq's Kurdistan region, Nechirvan Barzani, said in the statement.

Use of domestic gas for the region's power plants will save the region up to $1.5 billion as it substitutes the use of liquid fuels in generators currently used.

Dana Gas will be able to develop the project quickly as it will install a gas splitter it had already built and earmarked for another project.

That probably gave it an advantage over competitors for the service contract, who would have taken two years to build the infrastructure needed for gas production and processing, industry sources said.

Dana's investment could be the first of many by UAE companies in the Kurdish region.

"I know that other UAE companies from other economic sectors are looking at investing," Jafar said.

Dana Gas is the UAE's largest private-sector energy company by market value.

Dana's $1 billion acquisition of Centurion Energy in January made it one of Egypt's largest gas producers and was part of the UAE company's strategy to expand exploration and production of gas throughout the Middle East.

Dana will work with its affiliate Crescent Petroleum in the Kurdish region.

Crescent, which is a major shareholder in Dana, has other projects in Iraq.

Earlier in April, Crescent said it would work with Iraqi officials to study an oil exploration area in the country's south near the Kuwaiti border.

Crescent has also drawn up a development plan for Iraq's giant southern Ratawi field.

This explains how the KRG is signing some contracts as service contracts and not PSA.

Again we are seeing how natural gas is becoming as important as oil. Thank you.

Originally Posted by mr_india

Does anybody think so,that this Dinnar price will be equeal to US dollar??

Go to the rumors/predictions thread and you will find plenty of speculation on this.

YogiBrood;187553]Precisely, however and in the meantiome, that launching is still by far... quite a while to go, I won't reckon anywhere before Nov 2007... but thats my calculated view shared with many outside the forum and tracking closely from elsewhere too that are optimistic and certainly, ever cautious as well on a date no earlier than what I believe firmly in.

So the ICI won't have an effect on the the Dinar value and HCL won't go in effect till they stop debating it and the ISX won't open to foreign investors for months and Saudi Arabia and Kuwait won't forgive debt and M2 just keeps getting bigger. There are too many reasons that the the value won't go up anytime soon. I so desperately want to be wrong.

Originally Posted by stargate-sg13

I so desperately want to be wrong.

same goes here and can i do plenty with my stock when it does... hmm, it will just have to stay where it still is, in the bank's safebox for the time being, maybe by Xmas?


P.

Originally Posted by stargate-sg13

So the ICI won't have an effect on the the Dinar value and HCL won't go in effect till they stop debating it and the ISX won't open to foreign investors for months and Saudi Arabia and Kuwait won't forgive debt and M2 just keeps getting bigger. There are too many reasons that the the value won't go up anytime soon. I so desperately want to be wrong.

you are.