Tag Archives | Crest

Crest Energy takes WesternZagros Private

By John Lee. WesternZagros Resources has announced that it has entered into a definitive agreement with Crest Energy International LLC and its wholly owned affiliate WZG Acquisition Ltd. (“Crest AcquireCo”) to take the company private. Crest is an affiliate of Crest Investment Company, a Houston, Texas-based principal investment company. Under the deal, Crest AcquireCo will […]

WesternZagros Defers Draw Date on Debt Facility

By John Lee. WesternZagros Resources has announced that it has reached agreement with its major shareholder, Crest Energy International, to further extend the date by which the Company must deliver to Crest the first drawdown notice (the “Drawdown Deadline”) for both debt tranches. Pursuant to the terms of the Loan Agreement, Crest has agreed to […]

WesternZagros Updates on Garmian, Kurdamir

WesternZagros Resources has issued an update in advance of the company’s standard second quarter results which are scheduled for release on 13th August, 2015: Garmian Block Second quarter production from the Sarqala-1 well averaged 5,427 barrels of oil per day (“bbl/d). WesternZagros continues, in accordance with the KRG, to supply this production to the domestic […]

WesternZagros Announces Final Results

WesternZagros Resources today announced its operating and financial results for the year end ended December 31, 2012, and additional key highlights and activities to date. With tremendous exploration success and solid operational execution in 2012, WesternZagros moved well ahead on its mission to be recognized as one of the leading junior oil and gas companies […]

WesternZagros Secures Additional Funding

By John Lee. WesternZagros Resources has announced that it has entered into an investment agreement with Crest Energy International LLC, under which Crest will purchase, through a non-brokered private placement, 51,000,000 Common Shares in the Company at $1.25 per share for gross proceeds of $63.75 million. This price represents an approximate 25 percent premium to […]

WesternZagros Shares Hit 2.5-Year High

By John Lee. Shares in WesternZagros Resources hit a two-and-a-half-year high of Cdn$1.38 on Tuesday after the company announced that it has signed a strategic investment agreement with Crest Energy International LLC, under which Crest will purchase, through a non-brokered, private placement, 40,714,286 Common Shares of the Company at Cdn$1.40 per share for gross proceeds […]