By John Lee. Talisman Energy, the Canadian producer being acquired by Spain’s Repsol, has fully impaired its investment in Block K44 in the Kurdistan region of Iraq by $234 million, after determining that future investment in a capital constrained environment was unlikely. The company has an interest in two blocks, Kurdamir and Topkhana, covering in […]
By John Lee. WesternZagros Resources has announced the successful closing of its rights offering which expired on November 14, 2014. The Rights Offering, together with the equity backstop arrangement provided by the Company's largest shareholder, Crest Energy International LLC, generated CDN$200 million in gross proceeds to the Company which will be used to fund development […]
By John Lee. In its third-quarter results on Tuesday, Talisman Energy gave the following update on its operations in Iraq: In the Topkhana Block, the extensive well testing of the T-2 well has been completed. The results were consistent with the results of the long-term K-2 well test, in terms of fluid rates and composition, […]
By John Lee. WesternZagros Resources has, subsequent to its declarations of commerciality and submissions of development plans, and in accordance with its accounting policies, completed an independent evaluation and a new independent audit of its light oil discovery on the Garmian block in the Kurdistan Region of Iraq. The evaluation has, for the first time, […]
By John Lee. Talisman Energy has said that it still plans to sell its oil properties in Iraqi Kurdistan, despite the recent declaration that its Kurdamir Block was commerical. Reuters reports that the Calgary-based company plans to look for buyers for its Kurdistan assets as it continues restructuring to cut debt and boost its flagging […]
By John Lee. WesternZagros Resources and its co-venturer, Talisman, have submitted a Declaration of Commercial Discovery ("DoC") to the Kurdistan Regional Government ("KRG") for the oil and gas discovery in the Kurdamir Block. A phased development plan, outlining future production wells, facilities and supporting infrastructure, is under preparation for submission to the KRG. Simon Hatfield […]
By John Lee. Shares in WesternZagros Resources were up 8 percent in early trading on Wednesday following the announcement of its operating and financial results for the first quarter ended March 31, 2014. Commenting on the first quarter results and subsequent events, WesternZagros's Chief Executive Officer Simon Hatfield (pictured) said: "There have been several key […]
Shares in WesternZagros Resources fell 12 percent on Thursday following the announcement that it has completed a revised resources assessment of its Kurdamir Oligocene reservoir in the Kurdistan Region of Iraq and there are no material changes. On the Garmian Block, declaration of commerciality has been filed, the Baram-1 exploration well has discovered light oil, […]
WesternZagros Resources has completed testing operations in the Oligocene reservoir of the Kurdamir-3 appraisal well on the Kurdamir oil and gas discovery in the Kurdistan Region of Iraq. Although the testing operations took longer than anticipated due to mechanical difficulties, the results of the third and fourth drill stem tests (DST #3 and DST #4) […]
By John Lee. Shares in WesternZagros Resources closed 27 percent down on Wednesday following what the company described as "unexpected results" from its Kurdamir-3 well. The company has completed the first two drill stem tests (DST #1 and DST #2) on the Kurdamir-3 well in the Kurdistan Region of Iraq. The first Kurdamir-3 test, DST […]
A unit of Talisman Energy Inc., Calgary, has begun a cased-hole test program of the Oligocene reservoir at the Kurdamir-3 well on the Kurdamir block in the Kurdistan Region of Iraq. Talisman (Block K44) BV drilled the well to 2,895 m about 5 km southwest and downdip of the Kurdamir-2 well in what the block […]
WesternZagros Resources announced today its operating and financial results for the first quarter ended March 31, 2013, and additional key highlights and activities to date. Commenting on the first quarter results and subsequent events, WesternZagros's Chief Executive Officer, Simon Hatfield (pictured) said, "Our twin goals of increasing proven resources and production potential are our main […]
