News out today. All pre-conditions removed by TAQA which has now completed purchase of its stake in Atrush field.

http://www.rigzone.com/news/oil_gas/a/123171/Taqa_Completes_Purchase_of_Stake_in_Kurdish_Energy_Block

CIBC has been single handedly buying up SNM, a similar situation like Merrill Lynch (ML) which bought AOI stock heavily before it broke thru' $2.00 level. I recommended people jumping on AOI in my post on Bullboard in Nov. 2011 when that stock was trading at around $1.50. It seems ML is now getting into the act as well.

Both Morningstar & Scotia have put out undervalue ratings on SNM with the stock selling below intrinsic value. I believe this boat is leaving the dock very soon.