WesternZagros Resources Ltd has successfully retrieved the upper 450 metres portion of the parted drill string at the Kurdamir-1 well. Following thorough testing of the blow-out preventers, snubbing operations are now underway to recover the remaining 2,400 metres of drill string. This operation is expected to take approximately 20 days.
Total costs of Kurdamir-1 to June 30, 2010 are estimated to be $91 million gross, with $35 million related to the insurance claim. The Company continues to submit interim insurance claims related to the well control and sidetracking efforts at its Kurdamir-1 well.
Kurdamir-1 is a wildcat exploration well, located on the Kalar Bawanoor Block, in the Kurdistan Region of Iraq. WesternZagros is drilling the well with its co-venturers, the Kurdistan Regional Government (KRG) and Talisman (Block K44) B.V.