Test 2 was conducted over a gross perforated interval of 49 metres between the depths of 2,054 metres and 2,103 metres. Although Test 2 successfully flowed limited amounts of oil to surface, the test failed to evaluate the potential of the reservoir interval due to ineffective perforations.
Test 3 was conducted over a gross perforated interval of 167 metres between 1,799 metres and 1,966 metres. Test 3 resulted in a flow of 44 degree API oil with no formation water, at an average rate of 488 bopd over a one day period using a 48/64" choke with a flowing well head pressure of 113 psi. Initial reservoir pressure was calculated to be 5,338 psi. Test 3 analysis conducted by an independent third party engineering expert indicates that this interval has the potential to produce at over 1,000 bopd if formation damage can be mitigated by stimulation or use of alternative drilling techniques. The Company is considering additional measures to enhance future flow from this interval.
Test 4 was conducted over a gross perforated interval of 107 metres between the depths of 1,636 metres and 1,743 metres. Test 4 resulted in a flow of 43 degree API oil and an emulsion at an estimated rate of 250 barrels per day ("bpd") over a one day period. Test 4 was conducted using a 32/64" choke with a flowing well head pressure of 90 psi.
These drill-stem testing operations were concluded on February 14, 2012. However, upon approval from the Kurdistan Regional Government, WesternZagros plans to immediately conduct an extended well test over the Test 4 interval to further clean-up the well and gain additional information on its long term deliverability. The Company will conduct additional analysis to determine how to increase flow rates and unlock the considerable potential of the low permeability, naturally fractured sandstones of the Upper Fars Formation.
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