BNN Clip Positive on Kurd OilKeith Hill, Chairman, ShaMaran Petroleum, was on BNN yesterday (Tues. Apr. 19) at 11:50 am discussing their company's operations in Kurdistan. (They apparently recently hit a 6000 BOPD well that will be capable of flowing 10000 BOPD according to Keith). Here are the key takeaways:
- new Iraq oil minister "in favour of endorsing those contracts" as its in both party's interest to sort out and keep exploration and development going in Iraq;
- one-half of the remaining Iraq reserves are in Kurdistan - the region has barely been explored;
- "from a geological standpoint, it's about as easy as it gets" - mentioned oil seeps,etc.;
- operating conditions continue to improve - their last well was drilled on time and on budget;
- pleasently surprised at how relatively stable and safe it is compared to other countries
Sounds very encouraging to me and I have added to my position. Oil will continue to be an increasingly valuable resource in the future.
Greg