I think investors are hopeful that the two governments will come to an understanding. There does not seem to be anything tangible... and you are probably righ about the funds depleting as we speak.
Hi Jojoba, it was shameless pumping from a couple of newsletters, "analysts." eg: "Company Bullish About Iraqi Prospects" Seems the pump was short lived.
There is good support though around .7/.8 They don't want it to go lower for now...