Upper Bakhtiari Formation
The Mil Qasim-1 well also encountered hydrocarbon shows in a high porosity conglomerate and sandstone interval of approximately 25 metres thickness in the Upper Bakhtiari Formation at a depth of approximately 500 metres. The Company is actively researching lower cost drilling solutions to evaluate this shallow zone later this year as it is encouraged by the existence of numerous highly productive water wells drilled in the Upper Bakhtiari Formation in the southern Garmian area that have typical flow rates of 6,000 bpd.
Commenting on the test results, WesternZagros Chief Executive Officer Simon Hatfield said, "The data gained while testing Mil Qasim-1 significantly contributes to our improving knowledge of the Upper Fars Formation. We're encouraged that we have flowed oil from multiple zones in the Upper Fars with no identified formation water and we are optimistic that these reservoirs can achieve economic flow rates in the future. The next two wells that WesternZagros plans to drill in the area, Sarqala-2 and Hasira-1, although being drilled for deeper targets, will also provide additional information on the Upper Fars reservoirs and the extent of the Mil Qasim discovery. The light oil discovered in Mil Qasim underscores the importance of our Blocks as a source of high quality light oil from the Kurdistan Region of Iraq."
Kurdamir-2 Exploration Well (Kurdamir Block)
The 13 5/8" intermediate casing in the Kurdamir-2 exploration well has been set and cemented at 2,315 metres in the Lower Fars top seal above the Oligocene reservoir. The well is on track to drill and test the Oligocene reservoir as expected by the end of the first quarter of 2012.
Sarqala-1 Extended Well Test ("EWT") (Garmian Block)
Following the installation of additional tank storage capacity, production continues at an average rate of 5,000 bopd. Sarqala crude is being processed in local refineries under the auspices of the Ministry of Natural Resources.
(Source: WesternZagros)
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