Thread: Iraq/Dinar News. 09/05 to 01/14/07

New, Reopened Iraqi Oil Wells Reverse Declines

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Mr. Leaby said big problems persist, including a lack of adequate funding from the Ministry of Oil. Mr. Leaby's independent-minded South Oil has jostled with the ministry over funding and control in the past. "We [will be] able to maintain this level of production and even increase it if the ministry renders us financial and administrative support," he said, without specifying any financial requirements.

Mr. Leaby said South Oil plans to raise output to 2.25 million barrels a day by the end of this year. Many production forecasts from Iraqi and U.S. officials in Baghdad have proved too optimistic in the past. U.S. military engineers, working with South Oil engineers on several projects, say Western contractors are expected to finish by the end of the year a handful of big jobs that could help bring new production.

One of those projects is hooking up and turning on more unfinished or capped wells, according to U.S. Navy Capt. Michael Sherbak, chief of oil projects for the U.S. Army Corps of Engineers in Baghdad. The wells were drilled years ago. Some were never completed because of a lack of parts, while others were shut down prematurely. Army engineers and their contractors are planning to help South Oil get 60 of these wells on line by year end, Capt. Sherbak said.
http://framehosting.dowjonesnews.com...3370002&Take=1

bob, why do you say the 25th?
my b'day is 24, i need a keg that day.
its gonna be tomorrow!!!

Okay Folks. Here are my very down to Earth plans:

1) Buying a new apartment here in my City
2) Buying an apartment/house in Southern Spain ( Probably Malaga or Marbella or Cordoba)
3) Travelling wherever I want to ( Spain my favorite and then Brazil for love reasons and other places like Portugal, US, Canada, Mauritius,Ghana,Chile,Uruguay,Panama, Honduras, Belize,etc...)
4) Helping Friends and Relatives in Real Need
5) Giving to serious proven Charities which deal with Poor Children
6)Buying Aston Martin DB9 (wanted the Vanquish S but they don't make it with automatic transmission, sadly.....)
7) Buying important presents to Ivone, the woman I love......
8) Meeting the in-famous DINAR GANG in some real incredible, groovy place.....
9) Trying and be happy.......

garthstar, Just going with the flow my fiend Iwon't cry about it if its the 24th. the sooner the better. I need to pull myself out of the hole of debt!

NENO, regretfully I have to wait for the dinar to peg for the $50.00 . I have been buying dinar, and thats GOOD! .

July 17, 2006
Iraq makes first interest payment in 15yrs


As the UN reports the death toll for May and June was almost 6000, foreign creditors are also getting their pound of flesh. Today Iraq is scheduled to make its first interest payment to private creditors - of $87m - in more than 15 years (FT).

http://www.jubileeiraq.org/blog/2006_07.html#000933

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thats 3 days ago. it says its due, not that they have paid it on time. dont you think they will reval, then pay in USD or EUR or new high value dinars, wouldnt that make sense?

just another sign the reval is well overdue.

PEG HARD SON!!!

Originally Posted by optimist48

Okay Folks. Here are my very down to Earth plans:

1) Buying a new apartment here in my City
2) Buying an apartment/house in Southern Spain ( Probably Malaga or Marbella or Cordoba)
3) Travelling wherever I want to ( Spain my favorite and then Brazil for love reasons and other places like Portugal, US, Canada, Mauritius,Ghana,Chile,Uruguay,Panama, Honduras, Belize,etc...)
4) Helping Friends and Relatives in Real Need
5) Giving to serious proven Charities which deal with Poor Children
6)Buying Aston Martin DB9 (wanted the Vanquish S but they don't make it with automatic transmission, sadly.....)
7) Buying important presents to Ivone, the woman I love......
8) Meeting the in-famous DINAR GANG in some real incredible, groovy place.....
9) Trying and be happy.......

I think in this case it would be time to learn to drive a manual!!! They don't make manuals any easier than those with the paddle shifters!!! You shouldn't let a little ole' clutch pedal dissuade you from that car!!! LOL!!!

In all honesty, a revalue of the amounts that are being discussed is a life changing event. Go ahead, change...(and get the Vanquish S)...lol...I won't tell.

Originally Posted by rodney ewalt

Just a quick post to let everyone know that I spoke with the branch manager today and she informed me that they have a book that they use to compare the currency to in order to authenticate it. Then, they call for the lastest market price to determine the exchange rate. The money never has to leave your site and once the exchange is compleat, it's a done deal, they will not be able to come back later and say oh, by the way, your dinars were fiat. She said they will know at the time that they compare to there book if it is geuine and if it is not , no exchange will be made.

I'll try to get caught up on all your post before I go to bed tonight but for now, I have to go.

Rodney... terrific! I'm going to visit my bank and ask for the manager.. I like the answer you got better than at my bank... there are always other branches.. or other managers...I don't mine shopping around... I just don't want it to let it out of my sight!!
libby...thanks

I have an idea that this has probably been covered in the last several thousand pages, but, a question. If Iraq is having such financial difficulties, where is all this dough going to come from when a ton of people cash out at least part of their dinar? AThe complexities of inernational finance is sailing over my head.

Originally Posted by ourhouse37

I have an idea that this has probably been covered in the last several thousand pages, but, a question. If Iraq is having such financial difficulties, where is all this dough going to come from when a ton of people cash out at least part of their dinar? AThe complexities of inernational finance is sailing over my head.

smack my braided fingers, I fuss so about spelling and I did it twice in this letter. oy!