WesternZagros Resources has announced the promotion of Michael Mossman to Senior Vice President Engineering and Operations. Simon Hatfield, WesternZagros's Chief Executive Officer, commented: "Michael's wealth of operational and management experience makes him an ideal person to lead our Kurdistan operations. His promotion strengthens our organization and I am sure he will continue to contribute to […]
By John Lee. WesternZagros Resources has successfully completed the first of three planned cased-hole tests in the Oligocene Formation of the Kurdamir-2 well in the Kurdistan Region of Iraq. Flow rates of up to 3,450 barrels per day ("bbl/d") of light oil were achieved from the 20 metre perforated interval, the deepest of the planned […]
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 […]
By John Lee. WesternZagros Resources has temporarily halted its shares from trading while it prepares a news release with results from the recent casedhole testing of the Eocene Reservoir, the secondary target of the multi-stacked reservoirs drilled by the Kurdamir-2 well in the Kurdistan Region of Iraq. The release will provide the full context around […]
By John Lee. WesternZagros has announced that during the post-perforation clean up period of the Eocene testing program, an initial low rate flow of 42 to 45 degrees API oil to surface has been achieved at the Kurdamir-2 exploration well. The Company advises that flow rates and the potential for commerciality cannot be confirmed until […]
By John Lee. WesternZagros Resources has completed its testing program in the deepest of the three stacked reservoirs drilled by the Kurdamir-2 exploration well in the Kurdistan Region of Iraq. The testing confirmed an oil discovery in low permeability fractured limestones of the Cretaceous-age, Shiranish Formation, adding to the previously announced major oil discovery in […]
By John Lee. Shares in WesternZagros Resources were up more than 3% on Thursday as it announced its operating and financial results for the second quarter ended June 30, 2012. Headlines: WesternZagros completed a private placement with Crest at Cdn$1.40 per share for $57 million at an approximate 10% premium to the August 4 closing […]
By John Lee. Like good comedy, the secret of good investment is often said to be timing. Someone buying shares at the end of June in Heritage Oil, which has interests in Iraqi Kurdistan, may have had reason to be concerned if they planned to sell shortly afterwards, as the shares were suspended in early July […]
By John Lee. Shares in WesternZagros Resources hit a two-and-a-half-year high of Cdn$1.38 on Tuesday after the company announced that it has signed a strategic investment agreement with Crest Energy International LLC, under which Crest will purchase, through a non-brokered, private placement, 40,714,286 Common Shares of the Company at Cdn$1.40 per share for gross proceeds […]
By John Lee. WesternZagros Resources has completed the remediation work at its Sarqala-1 producing oil well and is preparing to test the promising Shiranish reservoir in the Kurdamir-2 well. WesternZagros also continues to actively cooperate with the Kurdistan Regional Government ("KRG") in the effort to assign the third party participant interest ("TPPI") within the Garmian […]
By John Lee. America's second-largest energy company, Chevron Corporation, may buy the rights to two oil exploration zones in Iraqi Kurdistan. According to a report from region from the Sunday Times in London, it would acquire the rights from Reliance Industries, India's largest private sector enterprise. The deal, which may be announced this week, is […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
