Last C$0.43 CAD
Change Today +0.02 / 4.94%
Volume 334.7K
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As of 12:57 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

westernzagros resources ltd (WZR) Snapshot

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52 Week High
07/8/14 - C$1.28
52 Week Low
12/18/14 - C$0.39
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westernzagros resources ltd (WZR) Details

WesternZagros Resources Ltd. is engaged in the acquisition, exploration, development, and production of crude oil and natural gas in Iraq. It holds 40% interests in the Garmian production sharing contract (PSC) covering approximately 1,780 square kilometers; and the Kurdamir PSC covering approximately 340 square kilometers in the Kurdistan Region of Iraq. The company was founded in 2003 and is headquartered in Calgary, Canada.

600 Employees
Last Reported Date: 09/3/14
Founded in 2003

westernzagros resources ltd (WZR) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: C$340.0K
Chief Financial Officer
Total Annual Compensation: C$240.0K
Compensation as of Fiscal Year 2013.

westernzagros resources ltd (WZR) Key Developments

Westernzagros Resources Ltd. Provides Kurdamir and Garmian Update

Westernzagros Resources Ltd. announced that it has been informed by its co-venturer and operator, Talisman (Block K44) B.V. that the Kurdistan Regional Government has requested changes to the Kurdamir Development Plan that was submitted on August 31, 2014. WesternZagros and Talisman plan additional consultation with the Ministry of Natural Resources of the KRG to refine the development plan. During this review period, operations on the Kurdamir Block and the drilling of the Kurdamir-4 well will be deferred. Future drilling plans will align with the redefined development plan once approved by the KRG. On the Garmian Block, the rig that performed the successful Sarqala-1 workover has been moved to the Hasira-1 well where preparations are underway to test the light oil discovery in the Mio-Oligocene reservoir. Results are expected in December. Following a successful test, the Hasira-1 well will be tied-in to the existing production facility. Activities are also underway to increase the process capacity of this facility to 15,000 barrels per day. WesternZagros is making good progress in discussions with the KRG on the Garmian Development Plan submitted in June, 2014.

Westernzagros Resources Ltd. Presents at Goldman Sachs Natural Resources Conference, Nov-12-2014

Westernzagros Resources Ltd. Presents at Goldman Sachs Natural Resources Conference, Nov-12-2014 . Venue: London, United Kingdom.

Westernzagros Resources Ltd. Completes the Workover of the Sarqala-1 Well in the Garmian Block in the Kurdistan Region of Iraq

Westernzagros Resources Ltd. has completed the workover of the Sarqala-1 well in the Garmian Block in the Kurdistan Region of Iraq. The purpose of the workover was to install larger tubing to replace the subsurface safety valve and increase the flow capacity of the well. The company tested the well at rates of up to 11,500 barrels per day ("bbl/d") of 40 degree API oil from the Jeribe/Upper Dhiban reservoir. The Sarqala-1 well previously produced over one million barrels of light oil at an average flow rate of 5,000 bbl/d of oil during an extended well test in 2011 and 2012. The new flow rate of 11,500 bbl/d was reached after two days of flowing and stabilizing the well at progressively choke sizes prior to the final flow. The final flow rate was achieved on a one inch choke with a wellhead pressure of 2,155 pounds per square inch. No stimulation was applied to the reservoir; however, it remains an option to do so at a later date. As during the previous extended well test, this current test produced no hydrogen sulphide gas or formation water. Following the completion of this post-workover test at Sarqala-1, the Company plans to move the workover rig to the Hasira-1 well to commence the testing of the light oil discovery in the Mio-Oligocene reservoir, anticipated to commence in early November.


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