Ever since oil first gushed in Texas, Houston-based Baker Botts has represented wildcatters. While those deals were always risky, even Baker may not have anticipated that the deal made by the firm for its latest wildcatter — Hunt Oil Co., a longtime client hungry for oil in Iraq — was risking quite so much. Both the U.S. and Iraqi governments are annoyed by the Hunt contract, and the Bush administration claims that the deal may hurt peace prospects in the region.
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