RE: Tax loss selling? Hi Ocean Ranger, i have to say i totally agree with you - i too believe if the SP reduction recently was leak of news from MQ it would have been a much more rapid, sharper decline, and much more likely to be tax loss selling.
I too have just added an extra 10,500 shares to my holding which is now at an average of .70c/share
I am aware of the risks of this stock but i believe the rewards on this in particular far outweigh those risks, and that there are several events - MQ, K2, Topkhana, and potentially (but IMO unlikely in the near future) Political deal any one of which will add considerable value to the SP, aswell as the assignment of a Garmain block partner and recoup of the their outlay there.
I too believe that this stock by christmas of next year will be considerably higher in value, and that if Kurdamir 2 is in fact a sizeable discovery (and they have a great success rate) then not only will the SP immediately jump significantly, but there will be rumours and potentially offers of takeover bids circling the firm that will add value.
Indeed there have been numerous articles posted here from the Financial Times and other sources confirming their opinion of the consolidation they believe will take place in Kurdistan next year, and also of TD Waterhouses analysis of the stock and its potential which i personally thought was well balanced (a good read if you have not seen it - have a look through older posts on the board).
IMO whilst it would make sense from a Western perspective looking at Iraq and their economic potential for the O&G law to be approved, with the US withdrawal the civil tensions have re-emerged as strong as ever and have deterioated rapidly since the day of pull out, and what we all forget is that there is huge history here of hatred between Sunni's, Shia's and Kurds, all of whom vote for there respective Sunni, Shia or Kurd candidates, it is not in our sense a fully functioning democracy.
I have read much about the political situation and also met with high level representatives from the KRG who in October told me catagorically the O&G law would be in place by the year end, and indeed there was an article also previously posted here where they confirmed they had agreed this timeframe with Maliki with Sharistani present to redraft the 2007 law or accept as is by year end, but that they had seemingly recently reneged on that with divergent comments publically.
I think Kurdistan need to continue strengthening their relationship with Turkey (which they are doing) as their primary route to market, and in years to come we may see an entirely autonomous Kurdistan, which should be better for us all, not to mention far less politically complicated, although Kurdistan is not ready for that eventually just yet.
In any case, i fundamentally believe 2012 will be an incredible year for Western Zagros and i would be shocked if the SP is not in the 1.75-2.50 range at least by this time next year, in my opinion.
GLTA, and good hunting!
Long WZR.