Bombing Damages Iraq’s Largest Oil RefineryDon't want to play devil's advocate as I'm still long and strong for Sonoro but...
There was a bombing in Baiji, Iraq that was brought up to my attention by someone on the Sonoro board. I don't think this will raise panic through the group of Sonoro investors, but looking at Google Maps, it seems Baiji is very close to Salad ad Din.
It would be wrong not to consider the possible effect this may have on the region, whether it be good or bad. There is obviously a high demand for oil in the area, now greater than ever... but any time something like this happens, we do see an increased risk apparent in the area; so I would not surprised to see a small sell-off occur which is apparent with the 5% down today so far.
My only concern is, obviously there are a lot of stakeholders from the Iraq government in play with Sonoro. Where would their priorities be? Setting up a new project for Sonoro, or repairing the existing mega-producer? Or are the two not-related. Something to consider...
Could be a bump ahead... hopefully just a minor one, as I don't think the majority of stakeholders are aware of this bombing yet. Don't shoot me for bringing it up...
https://www.nytimes.com/2011/02/27/world/middleeast/27iraq.html?partner=rss&emc=rss
-Millionvester