http://www.gfmag.com/latestnews/latest-news.html?newsid=3509967.0

"The exchange said its Chief Executive Bente Landsnes and Senior Vice President of legal affairs Atle Degre met with the KRG's Khaled Salih, advisor to the region's prime minister and minister of natural resources.

"Salih explained the unfortunate consequences that what has become known as the 'DNO case' has caused for KRG," the exchange said.

"Oslo Bors stressed during the meeting that the exchange does not have any issues with KRG, and that KRG has not at any time been the subject of investigations by the exchange," it added."

And from my perspective i really feel that this case have been blown out of proportions. A journalist from DN have misinterpreted "ministry of natural resources" by "minister of natural resources" and concluded that the money have gone to Hawrami personally which is far from the truth.

I can understand the KRG reaction to this case, and harsh measures was needed in order to clarify the situation and be sure that this situation will not be repeated in the future.

The KRG have done a good job in kurdistan and getting foreign investors to invest in their area is a key thing to growth and prosperity. And by sending Khaled Salih to norway they show that transparency and dialogue is a key thing to success. I think their reputation will be strengthened in this process.

It`s the norwegian journalists that have damaged their reputation by misleading their readers with information based on pure speculation just to get a scoop.

Without this threat I doubt the OSE could be encouraged to climb down and clarify their statements. This is what the KRG want.

If they don't then DNO will probably shift exchanges and the KRG will say carry on.

This story needs to be put in the context of when the shares were bought. It was October 2008 and the financial markets were in complete meltdown. DNO could not have got money from the markets and very few people wanted resource stocks. The KRG would have wanted DNO to keep developing its assets. Given the timing of the transaction and the subsequent recovery in the market it was always going to make money. The fact it was a profitable transaction does not automatically make it a corrupt one.

If investing in the future is investing by getting nothing back, then how shall investments continue in the future?

KRG must not act to protect Hawrami at the expense of losing credibility of international investors. Already most multi-nationals are not prepared to do business in Iraqi Kurdistan at the expense of losing favour with Baghdad, and this fiasco has confirmed this for them, and will play against those considering investment in the region.

As an Iraqi Kurd, as an Iraqi, as a Kurd, considering that the interests of Iraq and Kurdistan are tied together, the KRG President and Prime Minister must act in a way to demonstrate that Kurdistan benefits from a stable regulatory regime that does not bend according to political influence and important personalities - only in this way will Kurdistan truly develop and excel as it truly has the potential to do so.

You are absolutely right.
To the point!

You are correct about KRG. They have everything to lose if they punish DNO like this. KRG can save their reputation if they end the situation as soon as possible and let DNO go back to business.
Now, KRG is only attraction more negative attention from more international media and newspapers. KRG is getting the headlines they don't like!

KRG should end the battle and get back on track before it is to late. They have the power to do so. But it needs to be done now!

Hopefully, KRG and DNO are on track with their discussions in this very moment.

Good look to all - both KRG and DNO.
You both deserve to suceed. With the start up of oil export on June 1st, 2009 you are on good way. Keep up the good work!

""It's hard to see exactly where this is going to go," said Samuel Ciszuk, an energy analyst at IHS Global Insight in London. "It's problematic for the KRG if they throw them out because they would probably undermine how people see the security of doing business in Iraqi Kurdistan. They would be as much of a loser as DNO.""

So true. If the KRG punishes DNO for something done by Oslo Stock Exchange and the Norwegian press, they lose all their credibility among international investors.

I believe common sense will prevail and that DNO and KRG will come to some sort of mutual agreement that will make sure DNO keep their legal contracts.

The strange thing in this farce is that Genel Energy is quiet. They are the supposed buyer of the DNO shares and could clear this mess up if they wanted to. But maybe they want their competitor to lose the fields, so that they can get them themselves.

However, a line must be drawn. Heated debate and reasoned arguments are most welcome at Iraq Oil Report. Name calling, unsubstantiated accusations and insults are most NOT welcome. I hope this is enough warning for anyone who may choose to continue down this route, on this or any other story.

Thank you for your continued readership and I look forward to providing you with the most up to date, accurate and leading news and information.

Ben Lando
Founder and Iraq Bureau Chief
Iraq Oil Report

KRG and DNO will solve this missunderstanding im absolutly certain.