WesternZagros spuds Kurdamir-3 well provides operational update
Tuesday, Feb 26, 2013
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") has spudded the latest well of its extensive exploration and appraisal program in the Kurdistan Region of Iraq. Drilling began on the Kurdamir-3 appraisal well on the Kurdamir Block on February 22, 2013. 3D seismic surveys are also underway on both the Kurdamir and Garmian Blocks, and preparations are progressing for the three wells on the Garmian Block planned for 2013.
Simon Hatfield, CEO of WesternZagros commented,
"2013 promises to be an exciting, transformational year for the Company. We are actively delineating our two major discoveries at Sarqala and Kurdamir and also pursuing high-impact step-out exploration on our Baram and Hasira prospects."
KURDAMIR BLOCK (Operated by Talisman (Block K44) B.V.)
Kurdamir-3 Appraisal Well
Drilling operations have begun at the Kurdamir-3 appraisal well on the giant Kurdamir Discovery. The well was spudded on February 22, 2013. The well is expected to take approximately four months to reach the planned total depth of 2,800 metres. The Company expects the gross costs of drilling and testing operations to be $50 million.
The Kurdamir-3 well is being drilled on the southwest flank of the Kurdamir structure approximately three kilometers and five kilometers from the Company's Kurdamir-1 and Kurdamir-2 discovery wells respectively. Kurdamir-3 will further appraise the extent of the oil leg in the Oligocene interval previously encountered in the Kurdamir 1 and 2 wells.
Kurdamir 3D Seismic Survey
This survey started in January, 2013 and is expected to be completed early in the third quarter of 2013. The survey encompasses 184 square kilometres on the Kurdamir Block and also extends into the neighbouring Topkhana Block in order to define more clearly the areal extent of the Oligocene, Eocene and Cretaceous reservoirs. The data from this survey will be used to decide on future appraisal well locations and refine resource assessments of the existing discovery.
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