WesternZagros Spuds Kurdamir-3

Kurdamir 3D Seismic Survey

This survey started in January, 2013 and is expected to be completed early in the third quarter of 2013. The survey encompasses 184 square kilometres on the Kurdamir Block and also extends into the neighbouring Topkhana Block in order to define more clearly the areal extent of the Oligocene, Eocene and Cretaceous reservoirs. The data from this survey will be used to decide on future appraisal well locations and refine resource assessments of the existing discovery.

GARMIAN BLOCK (Operated by WesternZagros)

South Garmian 2D and 3D Seismic Survey

This survey, which is over 50 percent complete, encompasses 325 square kilometers and covers the Sarqala and Mil Qasim discoveries and the Zardi Complex prospect in the southern portion of the Garmian Block. The survey was started on November 1, 2012 and includes four 2D seismic lines that have been acquired over the Chwar prospect. Processing and interpretation of the seismic data is underway and will be used in the appraisal of Sarqala and Mil Qasim and in identifying exploration targets for 2014. This survey is expected to be completed in the second quarter of 2013.

Hasira-1 Exploration and Appraisal Well

The Hasira-1 well, is planned to spud early in the second quarter of 2013, in order to appraise the extent of the oil leg previously encountered in the Jeribe reservoir at Sarqala-1 and also to explore the Oligocene reservoir beneath the Jeribe. Significant oil shows were encountered in the Oligocene interval at Sarqala-1 but the Company was unable to evaluate them due to wellbore conditions. Hasira-1 is expected to take approximately seven months to drill to a planned total depth of 4,100 metres. The drilling rig is currently being prepared in North America for deployment to the Kurdistan Region. The gross costs of drilling and testing operations at Hasira-1 are expected to be $60 million.

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