WesternZagros Resources has announced a strategic investment agreement with the Abu Dhabi National Energy Company PJSC ("TAQA"). The company's shares have risen 23% since Friday's close. Under the Agreement, TAQA will purchase, through a private placement, 74 million common shares in the Company at C$0.63 per share for gross proceeds of C$46,620,000. When this private […]
WesternZagros Resources has received approval to begin producing its first oil through an extended well test at its Sarqala-1 oil discovery. Drilling at Mil Qasim-1, the Company's third exploration well, is proceeding ahead of schedule. "We are delighted to commence our extended well test at Sarqala-1 sooner than anticipated. The acceleration of the next phase […]
Simon Hatfield, CEO of WesternZagros Resources, presented at the World Independent and Junior Oil and Gas Congress yesterday in London. Please click on the following pages to see a copy of his presentation on "Managing Oil and Gas Exploration Risk in the Kurdistan Region of Iraq":
WesternZagros Resources has announced that Sproule International Limited ("Sproule") has completed an independent audit of the Company's resource assessment for the Jeribe/Upper Dhiban reservoir interval of the Sarqala-1 well. Sarqala-1 is located in the Company's Garmian Block in the Kurdistan Region of Iraq and was drilled on the crest of the Sarqala structure. Consequently, the […]
WesternZagros Resources has announced encouraging results from a recently-completed study of the drill cuttings from its Kurdamir-1 well (pictured) utilizing advanced technology. The study, by Weatherford Laboratories in Houston, confirmed the potential of a gross oil and gas interval over 1,900 metres thick in the Kurdamir-1 well. These results significantly increase the Company's confidence of […]
WesternZagros Resources has started drilling operations at the Mil Qasim-1 well on the Garmian Block in the Kurdistan Region of Iraq. Mil Qasim-1 is located three kilometers to the south-east of the Company's Sarqala-1 discovery well. Mil Qasim-1 is targeting the prospective Upper Fars interval that exhibited numerous oil shows, including oil to surface in […]
WesternZagros Resources has announced that it has finalized an agreement with the Kurdistan Regional Government of Iraq ("KRG") and Talisman (Block K44) B.V. ("Talisman") to amend the original Production Sharing Contract ("Original PSC") that governed the Company's exploration activities in the Kalar-Bawanoor Block in Kurdistan. The agreement divides the contract area of the Original PSC […]
WesternZagros Resources closed the day up 9% on Wednesday following its report of an increase of over 100 per cent in the combined mean estimate of gross unrisked prospective resources on the Company's Kalar-Bawanoor exploration block ("Block K44") to 2,192 million barrels of oil, or 3,570 million barrels of oil equivalent when oil, gas and […]
WesternZagros Resources has announced its results for the period ended March 31, 2011, key highlights, and activities to date. On May 31, 2011, WesternZagros made an oil discovery in the Jeribe Formation at the Sarqala-1 exploration well. The Company tested the well at rates up to 9,444 barrels per day of 40 degree API oil. […]
WesternZagros Resources has announced that it has successfully completed the initial testing of the oil discovery made in the Jeribe Formation of the Sarqala-1 well. The Company tested the well at rates up to 9,444 barrels per day of 40 degrees API oil. This rate was reached after flowing and stabilizing the well at progressively […]
Shares in WesternZagros Resources are up 35% on Tuesday following the company's announcement of an oil discovery in the Jeribe Formation at the Sarqala-1 exploration well in the Kurdistan Region of Iraq. The cpmpany says the Jeribe Formation flowed light, 40 degrees API oil at a stabilized rate of 6,000 barrels per day over the […]
WesternZagros Resources announced this morning that it is preparing to start the planned testing program at the Sarqala-1 well after a successful and incident-free completion of the sidetrack drilling and wireline logging. The sidetrack was drilled through the targeted path in the Jeribe Formation to a total depth of 3,893 metres. Drilling shows and log […]
