Shares in WesternZagros Resources fell 18% on Tuesday following the release of its year-end results. There is uncertainty about the company's ability to continue as a going concern, and additional funds will be required. The text of the company's announcement is shown below, and the full announcement can be downloaded here. WesternZagros' highlights and activities […]
WesternZagros Resources has begun drilling the planned sidetrack in the Sarqala-1 well in the Kurdistan Region of Iraq. The Company intends to drill a 100 metre sidetrack from the cased wellbore to test the Jeribe reservoir. Results from the drilling and testing program are anticipated in mid April, 2011. The Company originally drilled Sarqala-1 in […]
WesternZagros Resources has announced that it has closed its previously announced private placement offering (the "Offering") of common shares of the Company (the "Shares"). The Company sold, through a syndicate of agents, 89,665,352 Shares at a price of Cdn$0.48 per share for gross proceeds of Cdn$43 million. The Shares issued under the Offering are subject […]
WesternZagros Resources has announced its intention to raise C$40 million in a brokered private placement of common shares. The funds will be raised through a syndicate of agents led by TD Securities Inc. and Scotia Capital Inc. (the "Agents") on an overnight-marketed best efforts basis (the "Offering"). WesternZagros has also granted the Agents an option […]
Shares in WesternZagros Resources fell more than 7% in early trading on Tuesday, following the release of audit results for its Block K44 in Iraqi Kurdistan. Simon Hatfield, WesternZagros’ Chief Executive Officer, said, “we’re very encouraged by the rising resource estimates for our Block. As well as giving us a clearer picture of the opportunity […]
WesternZagros Resources, the natural resources company engaged in acquiring properties and exploring for, developing and producing crude oil and natural gas in Iraq, has updated its corporate presentation "to address the Company's significant prospective resources and its near term priorities". Highlights from the presentation were presented at the TD Newcrest 2011 Energy Conference in London, […]
WesternZagros Resources has announced that Sproule International has completed an independent audit of the Company's resource assessment of: the Tertiary Eocene and Cretaceous reservoir intervals of Kurdamir-1; the Jeribe reservoir at Sarqala-1; and the Upper Fars reservoir at Mil Qasim in the Kalar-Bawanoor Block ("Block K44"). This audit, together with the previous audit results of […]
WesternZagros Resources Ltd. (TSX VENTURE:WZR) has announced successful test results at the Kurdamir-1 well, which proves the existence of an oil column in the Oligocene reservoir. Shares in the company rose more than 14% in early trading. Sproule International Limited. ("Sproule") has completed an independent audit which confirms a 327 metre combined gas and oil […]
WesternZagros Resources Ltd. (TSX VENTURE:WZR) has announced its results for the period ended September 30, 2010. On October 14, 2010, the Company safely and successfully completed well control operations at the Kurdamir-1 well, which is WesternZagros' second exploration well in the Kurdistan Region of Iraq ("Kurdistan"). The open hole in the well has been plugged […]
WesternZagros Resources Ltd. (TSX VENTURE:WZR) has announced that it has successfully concluded the first cased hole test of the Lower Oligocene formation in the Kurdamir-1 exploration well. The tested zone was between 2,365 metres and 2,415 metres. The test achieved a maximum flow rate, after acidization, of 18.3 million cubic feet per day of gas […]
WesternZagros Resources, the Canadian-listed oil and gas exploration company with operations in Iraqi Kurdistan, reported on its operations this morning. The TSX market has not yet opened, but shares in WesternZagros have risen 50% over the past week. The text of the company's statement follows:
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") provides its results for the period ended June 30, 2010, key highlights, and activities to date. During the second quarter, the Company continued to drill the Kurdamir-1 well sidetrack. At a depth of 3,214 metres the well encountered high-pressure sour gas which resulted in well control […]
