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Mar 19, 2010 05:35PM
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MAR 19, 2010 - 16:00 ET
WesternZagros Provides Kurdamir-1 Operational Update
CALGARY, ALBERTA--(Marketwire - March 19, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") is pleased to announce that it has completed well control operations associated with the high formation pressures encountered at the bottom of the Kurdamir-1 well. During well control operations, it was necessary to cement the drill string in the hole below the 9 5/8 inch casing shoe at 2,702m. Accordingly, WesternZagros is now planning to sidetrack the well through the Aaliji and Shiranish formations, stopping before reaching the Gulneri formation, to allow Kurdamir-1 to be logged, cased and tested as planned.
"Although it took longer than desired to plug the stubborn high pressure zone in the Gulneri, we are glad to have that behind us," said Simon Hatfield, WesternZagros' Chief Executive Officer. "We now look forward to sidetracking in order to test the promising oil and gas shows in the Aaliji and Shiranish formations."
The costs of both the well control and sidetracking operations were included in the revised well cost forecast issued in the Company's news release on February 23, 2010. The Company is currently pursuing an insurance claim related to those costs.
Kurdamir-1 is a wildcat exploration well located on the Kalar Bawanoor Block, in the Kurdistan Region of Iraq. WesternZagros is drilling the well with its co-venturers, the Kurdistan Regional Government and Talisman Energy Inc. Further operational updates will be provided as WesternZagros progresses the sidetrack operations, and ultimately the logging, casing and testing of the Aaliji and Shiranish formations.
For further details on WesternZagros Resources Ltd., please refer to the March 2010 corporate presentation available on the WesternZagros website:
http://www.westernzagros.com/documents/WZRCorporatePresentationMarch2010.pdf