OKIE OIL MAN POST

RICHES---SURE---BUT NOT YET
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HAVING BEEN ASSOCIATED WITH AN INFLUENTIAL POSITION WITH 1 OF
THE MAJOR OIL COMPANY'S FOR 35 YEAR'S ---I HAVE LEARNED--AND AM
STILL LEARNING THE GOING'S ON RELATIVE TO THE OIL INDUSTRY.

WHILE THE BULK OF THE FAMILY IS ELATED WITH THE PROGRESS IN IRAQ--
I ALSO AM IMPRESSED AT THE PROGRESS THAT HAS BEEN ACHIEVED IN
SEEMINGLY SUCH A SHORT TIME.

THERE ARE SO MANY INTERVENING FACTOR'S THAT THE AVERAGE PERSON
MAY NOT KNOW--I WILL TRY TO ELABORATE IN MY LIMITED WAY TO
EXPLAIN THE INSIDE OUT OF THE OIL INDUSTRY--AS IT RELATES TO IRAQ.

IT SEEM'S THAT MANY OF THE FAMILY IS EXPECTING IMMEDIATE SUCCESS
IN IRAQ--VIS-A-VIS THE NEW OIL BID'S RECENTLY NEGOIATATED.

FROM MY EXPERIENCE AND INSIDE KNOWLEDGE OF HOW THE INITIAL OIL
BIDS THAT WAS SIGNED IN MARCH, 2009. IT SHOULD BE NOTED THAT THE
BID'S LATELY OF 1.20 TO 1.30 IS A PURE FALLACY. OUR CONTRACT IN
MARCH SPECIFIED 22.14 PER BARREL FOR PRODUCTION IN NEW FIELD'S.
IT SHOULD ALSO BE NOTIED THAT THESE CONTRACT'S WERE SIGNED IN
AFTER HOUR'S--UNDER THE TABLE AGREEMENT'S THAT A LITTLE JACK
DANIEL'S HAD AN INFLUENCE OVER. (THANK'S TENNESSEE FOR THE JUICE).

THE REASON THAT THE INITIAL ROUND OF OIL BID'S NOT RECEIVING THE
SUCCESS THAT IRAQ HAD CONTEMPLATED WAS DUE TO THE SIMPLE FACT--
THAT IRAQ HAD TO LEARN THE CONCEPT OF NEGOIATING RATHER THAN
DICTATING. (REFERRING TO THE JUNE CONTRACT'S).

WHILE IRAQ MAY BE THE PANACEA THAT SOME SEE AS AN END ALL AND A
BE ALL FINANCIALY YOU NEED TO KNOW THE REALITY OF WHAT HAS TO
HAPPEN TO MAKE THIS ALL COME INTO PLAY.

WHILE IRAQ MAY BE FLOATING ON A SEA OF OIL AS SOME HAS STATED
(EVEN THO SEISMIC DATA IS OVER 35 YEAR'S OLD) IT WILL TAKE A VERY
MINIMUM OF 6 TO 7 YEARS' TO DEVELOP--SEND DOWN THE PIPELINE--
TO REFINE (THERE ARE VERY FEW REFINERYS AT PRESENT) TRANSPORT
IT TO THE END CONSUMER--SELL THE PRODUCT--THEN DEPOSIT THE FUND'S
INTO THE C B I OR THE T B I TO BE DISTRIBIUTED TO THE BENEFIT OF THE
OIL COMPANY'S AS WELL AS THE IRAQI CITIZEN VIS-A VIS--OIL SHARING
REVENUE. (WHICH IS YET TO BE DETERMINED).

IRAQ HAS PROPOSED AND PUBLISHED THE FACT THAT A 35% TAX WILL
BE IMPOSED ON FOREIGN OIL COMPANY'S--BUT AS PAUL HARVEY SAY'S--
HERE'S THE REST OF THE STORY. THIS 35% TAX IS TO BE ADDED ON TO
THE COST OR PRODUCTION AND IN REALITY WILL NOT EXIST--EXCEPT ON
THE LEDGERS AND IN ESSENSE WILL NOT BE A TAX AND THIS AGREEMENT IS FOR 10 YEARS GUARANTEED. (CAN YOU C. P. A'S SAY ADJUSTMENT'S?)

I FULLY EXPECT THE R/V IN THE IMMEDIATE FUTURE BUT ALSO REALIZE
IRAQ IS DOING WHAT THE LOS VEGAS GAMBLERS MEAN WHEN THEY SAY
'' BETTING ON THE COME''.

IRAQ IS IN THE INITIAL STEP'S OF DEMOCRACY AND IS LITTERALLY LEARNING
AS THEY GO REGARDING BUSINESS--GOVERMENT--CURRENCY MANIPULATION--INTERNATIONAL TRADING AND WILL BE SEVERAL YEARS BEFORE THEY GET
ALL THEIR PROBLEMS (IF EVER) WORKED OUT.

I HAVE SAID ALL THIS TO SAY THIS---AS FOR ME---IMHO CASH OUT AS
SOON AS POSSIBLE WHEN THIS THING COMES TO FRUITION--

PROBABLY IN SOME OF YOUR LIFE-TIME THE IRAQI DINAR WILL BE THE
MOST VALUABLE CURRENCY IN THE WORLD. BUT AT THE PRESENT WITH
IRAQ SETTING HALF WAY BETWEEN ISRAEL AND IRAN--AND STILL BEING
A TINDER-BOX OF WARRING FACTIONS BETWEEN 3 TRIBES THAT FOR
THOUSAND'S OF YEAR'S HAS BEEN TOUGHT TO KILL EACH OTHER--
I CHOOSE TO TAKE WHAT-EVER THE DINAR RE-EVALUATES AT
AND RUN,