WesternZagros Provides Operational Update
12:47 PM ET, August 5, 2009
CALGARY, ALBERTA, Aug 5, 2009 (Marketwire via COMTEX) -- NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
WesternZagros Resources Ltd. (WZR) ("WesternZagros" or "the Company") announced today that drilling of Kurdamir-1 has progressed to a current depth of 2,067 metres. Drilling was successfully completed through the halite (salt) deposits in the Lower Fars Formation which, as expected, were not as thick as the salt deposits encountered at Sarqala-1. The well was logged in order to gather key data, including information related to pressure predictions and wellbore stability, and the 11 3/4" casing was set near the base of the Lower Fars Formation at 2,050 metres.
Kurdamir-1 is located on an anticlinal structure and is targeting four potential reservoir zones - the Oligocene and Pilaspi/Jaddala intervals in the Tertiary, and the Shiranish and upper Qamchuqa intervals in the Cretaceous. The Kurdamir-1 well was designed with two additional strings of casing, applying the lessons learned from Sarqala-1. With the 11 3/4" casing now set, three strings of casing remain available as drilling at Kurdamir-1 progresses through the potential reservoir zones to an estimated total depth of 4,000 metres.
About WesternZagros Resources Ltd.
WesternZagros is an international natural resources company engaged in acquiring properties and exploring for, developing and producing crude oil and natural gas in Iraq. WesternZagros, through its wholly-owned subsidiaries, holds a Production Sharing Contract with the Kurdistan Regional Government in the Kurdistan Region of Iraq. WesternZagros' shares trade in Canada on the TSX Venture Exchange under the symbol "WZR".
This news release may contain forward-looking information based on assumptions that are subject to a wide range of business risks. WesternZagros' operations are subject to all risks normally incident to the exploration, development and operation of crude oil and natural gas properties and the drilling of crude oil and natural gas wells, including geological risk, encountering unexpected formations or pressures, premature declines of reservoirs, potential environment damage, blow-outs, fires and spills, all of which could result in personal injuries, loss of life and damage to property of WesternZagros and others; environment risks; delay or changes in plans with respect to exploration or development projects or capital expenditures; the ability to attract key personnel; the risk of commodity price and foreign exchange rate fluctuations.
All of WesternZagros' assets are located in Kurdistan. As such, WesternZagros is subject to political, economic, and other uncertainties of that region as well as risks of loss due to civil strife, acts of war, guerrilla activities and insurrections. WesternZagros' operations may be materially adversely affected by changes in government policies and legislation or social instability and other factors which are not within its control. Risks also include the uncertainty involved in the estimation of undiscovered resources. For further information on WesternZagros and the risks associated with its business, please see WesternZagros' Annual Information from dated March 26, 2009 which is filed at www.sedar.com
and on the Company's web site.
Forward-looking information typically contains statements with words such as "anticipate", "estimate", "expect", "potential", "could", or similar words suggesting future outcomes. We caution readers and prospective investors of the Company's securities not to place undue reliance on forward-looking information as by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by WesternZagros.
SOURCE: WesternZagros Resources Ltd.
WesternZagros Resources Ltd.Greg StevensonVice President, Finance(403) 693-7007WesternZagros Resources Ltd.Dorreen MillerManager, Investor Relations & Communications(403) 693-7019Email: email@example.comWeb