WISR Ltd V.WZR

RE: Shahristani comments etc.

[canadafox]

N;  Shahristani is typical of every wise-after-the-fact demagogue.  The Kurdi PSCs were constructed to global norms and are not by any means excessive when viewed against a 'standard' document.  They were meant to encourage risk-taking in what was ( 2002 - 2009 ) a physically dangerous, unexplored and difficult-to-drill E&P environment.  That some companies have been very successful; DNO, GKP, Addax, WZR, and MOL should be a cause for celebration by the Iraqis but their investors have had to endure constant carping and reductions in value because of this mono-maniac.  How many countries that had minimal capital and human resources and and zero exploration & production within a large region awould have taken the following deal; 'At no initial cost to you we will risk our money and commit our human/technical resources  to deliver to you possibly 50Bn bbls of oil worth $ 5,000 BILLION currently. The reward to us comes only if we are successful and is the return of our costs plus 8 -12 % of your revenue.  To stress, we do not make money until you are certain to make 8x or 10x what we do.  If we find nothing we lose all the money our investors have spent.'  ?  How about EVERY SINGLE ONE.....  I do not hear of Shahristani offering to give back every cent plus interest spent by Vast, Longford, KNOC, Shamaran ( partially ) on unsuccessful exploration programs.  That's because he is a charlatan and a hypocrite.  The value of exportable production lost to Iraq because of him to date is huge; the KRG believe they could have over 250,000 bbls/day currently with proper co-operation.  That minimal figure is worth $25m each day.  The ICG preside over a nation that does not have enough; electricity, food, jobs, education, infrastructure, security, housing and hope for the future.  Shahristani is a disgrace IMO.