EXCERPTS FROM MARKZ
Member: There are rumors HCL is done.
MZ: They are operating as if HCL was done. I am convinced it is done- just not officially announced yet.
MZ: “Sudani: The challenges of the 2025 budget will not hinder salaries . Is Ira on the brink of a financial crisis?” these are the normal back and forth article they throw out there just before a value change.
Member: So I hear - Iraq approved it, but didn’t do it in time to be already in affect? So we have to wait till Sunday.
MZ: “With documents: Test of the draft amendment for the budget law.” The second reading is done and we are waiting on the third reading to have their budget.
MZ: The rumors in Iraq are along with that third reading they will announce the HCL.
Member: The third reading is the final reading.
MZ: We hear the third reading may be on Saturday.
Member: What is HCL?
MZ: Hydro Carbon Law. it’s the profit sharing between the Erbil region and Iraq. We were told when it is passed- the RV can occur. Within days of it passing the new rate should be out.
MZ: It may be time to start getting excited…We just need to manage our expectations