WesternZagros Confirms Oil in Eocene Reservoir at Kurdamir-2

By John Lee.

WesternZagros Resources has successfully completed its testing program in the Eocene reservoir, the second of three target intervals in the Kurdamir-2 exploration well in the Kurdistan Region of Iraq.

The testing proved an oil discovery in the naturally fractured limestones of the Eocene Formation. This adds to the previously announced major discovery of oil in the Oligocene reservoir which was the primary target of the well.

A single cased hole test was performed over a net perforated interval of 108 metres and resulted in the flow of light, 45 degree API oil at sub-commercial flow rates. No water leg was encountered and no formation water was recovered during the test.

Following an acid fracture stimulation, the well flowed back a mixture of oil, emulsion and spent acid. This is the first test of the Eocene and the Company will engage in further study to optimise completion techniques in order to unlock this resource.

The Company does not expect its earlier Eocene mean estimate of gross unrisked prospective oil resources of 278 million barrels ("MMbbl") to change appreciably from these test results.

The base of the perforated Eocene reservoir interval is interpreted to be approximately 220 metres below the seismically mapped four-way structural dip closure of the Kurdamir structure, which suggests that in a similar manner as the Cretaceous and Oligocene, the Eocene is also involved in a larger trap.

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