WesternZagros Year-End Results

WesternZagros recently established initial light oil Reserves for the Garmian Block - 11 million barrels ("MMbbl") of Proved plus Probable ("2P") light oil Reserves (Gross Block) as determined by Sproule International Limited, the Company's independent, qualified reserves evaluator in an updated reserves report as of December 31, 2014.

The Garmian Block contains an additional 417 MMbbl of oil of unrisked Prospective Resources (Gross Block combined Mean estimate) as determined by Sproule International Limited, in its July 1, 2014 and February 8, 2013 reports.

Hatfield added:

"These reserve bookings represent the first of what we expect will be progressive reserves additions that will underpin production growth. On October 16, 2014, we tested the Sarqala-1 well at rates of up to 11,500 bbl/d of 40 degree API oil from the Jeribe/Upper Dhiban reservoir. Sarqala-1 is the first of several wells planned to tap the Garmian Block's Jeribe reservoir.

"Once the development plan is approved, we expect to commence an additional development well this year to increase production and cash flow. Delays to the start of testing of the light oil deeper Oligocene reservoir at our nearby Hasira-1 well have been experienced due to a number of downhole service company tool failures.

"However, testing is now underway, with results expected in the second quarter of 2015, which we believe could demonstrate the production potential of this new reservoir and add additional resources and production capability to the Sarqala field. Following a successful test, the Hasira-1 well is expected be tied-in to the existing Sarqala production facility."

Fourth Quarter 2014 and Year End Results

WesternZagros has posted its operating and financial results for the fourth quarter and year ended December 31, 2014 on its website. The financial statements, the Management Discussion and Analysis, and the Annual Information Form are available at www.westernzagros.com and on SEDAR at www.sedar.com.

WesternZagros is in the early stages of transitioning from an oil and natural gas exploration company to a production company. The company had no commercial production or oil sales in 2014, and has only recently started to produce light oil for sale. As production grows, the Company expects to also grow cash flow and is working towards turning its enormous oil resource potential into a financially sustainable production company.