He wrote me the following./

Owly: This means nothing. Exxon stated in a document released just last week it has already signed contracts with the Kurdistan government to explore for oil in Kurdistan. To back out of those contracts now would constitute a breach of contract for which the company could be held liable in damages. That said, it is clear it doesn't want to deal with the Iraqi central government and does want to get in the lucrative Kurdistan oil play. Much noise about nothing in this report.

On vacation in Montana now so no time to reply in detail. Nothing to worry about,, including today's institutional-engineered drop to try to get investors to sell their shares.

Den