That well had WZR taling 100% of the profits and oil was sold locally at a reduced rate.  Aprox 50% of Brent.  Now that WZR has been paid for their expenditures they will only be getting a 40% cut.  That is why selling the oil for export at world Brent prices is so important.  Do not worry so much about this though.  The O & G law or eventual seperation of "Kurdistan' is the ultimate SP motivator.  K2 and the news in early 2013 on the shallow wells could get us to the mid 2's but the double from there is politically motivated. WE also need to keep an eye on TAQA and their attempts for Nat gas hydro plants in Kurdistan.  It is my understanding that is a chip in the Kurd's hands when dealing with Turkey and Iraq proper.  They want the plants there to control their neighbours thus gaining leverage.  Intrigue abounds.  TFSA's going up another $500 in 2013.  How many shares of WZR can I slide in on Jan 1 with $5500 worth of room.