HUNT IN KURDISTAN (W/BREAKING NEWS!)

THIS JUST IN (really):
Lawmakers seek data on Hunt’s Iraq oil contract -- Nick Snow, October 16, 2007 (Oil & Gas Journal)

Rep. Henry A. Waxman (D-Calif.) and Dennis J. Kucinich (D-Ohio) of the Oversight and Government Reform Committee: "By signing a contract with a regional government, Hunt Oil may have undermined US national policy of working toward passage of an oil revenue-sharing plan, which the Bush administration has called a critical step towards national political reconciliation in Iraq and the return home of US troops..."

Waxman's committee and Kucinich's subcommittee will investigate whether Hunt used “nonpublic” information learned on President Bush's Foreign Intelligence Advisory Board to advance his oil company.

H.L. Hunt: "We consider ourselves to be loyal American citizens as individuals and as a company…"

In the article below, Hunt finally responds to his company’s controversial move into Kurdistan, leading the charge for Iraqi Black Gold.

Because the State Department has underscored the Maliki government’s disapproval of the Hunt/KRG deal, it has been interpreted both as cashing in on Hunt’s Bush-ties AND an affront to the President.

Reminds NewEnergyNews of Austin (Stephen) and Houston (Sam). Will Hunt find a Kurd to play the role of Davy Crockett?

Hunt Denies His Political Ties Aided Kurdish Pact
Bob Davis (w/Chip Cummins and Neil King Jr.), October 3, 2007 (Dow Jones Newswires via RigZone)

WHO
Ray Hunt, CEO, Hunt Oil Co./son of notorious wildcatter H.L. Hunt/half-brother of the notorious Hunts who tried to corner the world silver market

Hunt Oil will be working in the Dahuk region at the very top of the map. (click to enlarge)

WHAT
Hunt asserted his ties to the Presidents Bush were not a factor is his company’s obtaining the first new oil deal in Iraq. (see also KURDS, HUNT OIL PARTNER and HUNT OIL STRIKES TROUBLE)

WHEN
- Hunt Oil expects to begin geologic assessment before the end of the year and hopes to begin exploratory drilling in early 2008.
- Fundraising records show Hunt contributed $75,000/year to Republican committees the last 2 years.

WHERE
- Hunt Oil is based in Dallas, Texas and has oil exploration projects in the North Sea and Yemen, a natural-gas project in Peru's Amazon region and is building a Peru LNG facility.
- The Hunt Oil contract calls for exploration and production and a refinery in the Dohuk region of Kurdistan near the Turkish border.
- The KRG has subsequently done deals with Heritage Oil Corp., of Canada, and Perenco SA, of France for exploration and production in Kurdistan.

WHY
- Iraq’s oil reserves are estimated at 115 billion barrels, third in the world after Saudi Arabia and Iran, but 3-4 decades without exploration suggests there could easily be far more.
- Hunt Oil, smaller and more agile than the majors such as ExxonMobil, BP and Royal Dutch Shell because it is independently owned and not obligated to stockholders, has a history of oil exploration in dangerous countries and Hunt claims the Kurds chose his country because of its record of exploration in Yemen during a Civil War. Hunt Oil refuses to do business in countries the US has sanctioned.
- The Maliki government considers the KRG deals illegal.

Hunt Oil worldwide operations. (click to enlarge)

QUOTES
- Hunt: "We did not consult with anyone in the [U.S. government] prior to signing our agreement…It's another example where we're able to move quickly when opportunity presents itself…The fact is, as a matter of policy, we never have and never will go to the government of the U.S. and ask the government's advice on anything we do from a business point of view."
- Qubad Talabani, KRG US rep: "When a name as established as Hunt comes in, it raised eyebrows in the oil-and-gas community…"