DNO

BC-

The Norwegian Oil Co. DNO has become the first foreign Oil Company that directly meddles with the fate of our country when it intends to start output from Iraq’s north Tawke field, which will be pumped (50,000.00 barrels/day) through the northern pipeline (built by Saddam) to Turkey in the first quarter of next year under a production sharing agreement exclusively signed with the Kurdish regional government, and in blunt defiance with Iraq’s Oil Minister Mr. Hussain Shahristani.

The move signals a new era in Iraq’s history when foreign up-stream Oil companies can boldly decide the contour of our country. DNO’s (its shares jumped nearly 11 percent!) decision to go ahead with the production will leverage the Kurdish future regional government’s independence. And while Halliburton couldn’t dare to make such pre-ops risk taking, ironically, the Iraqis find themselves being united under Halliburton’s decision to stick to contracts signed with the Iraqi central government rather than the so-called regional governments.

DNO’s production-sharing agreement will set the pace to form Oil produced states within the Iraqi country - A dejevue quite vivid amongst the neighboring Gulf States in the Arabian (Persian) Gulf.