Mr. Greg Stevenson reports

WESTERNZAGROS CLOSES $C46.6 MILLION STRATEGIC INVESTMENT WITH TAQA

WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") has closed its previously announced strategic investment with the Abu Dhabi National Energy Company PJSC ("TAQA") whereby TAQA has purchased from WesternZagros, through a private placement, 74 million common shares of the Company at a price of Cdn$0.63 per share for gross proceeds of $46,620,000. TAQA now holds approximately 19.9 percent of the Company's issued and outstanding common shares. The common shares issued to TAQA are subject to resale restrictions under Canadian securities laws until February 26, 2012, as well as a contractual hold period until June 30, 2012, pursuant to the terms of the investment agreement (the "Investment Agreement") entered into between the Company and TAQA on October 16, 2011.

WesternZagros's Chief Executive Officer, Simon Hatfield said, "We are very pleased to close this financing with TAQA and pursue our stated objectives to achieve significant growth from the Company's well-positioned exploration Blocks. 2012 should be an exciting year for WesternZagros and all of its shareholders."

David Cook, TAQA Executive Officer and Head of Upstream, has been appointed to the WesternZagros Board of Directors. Mr. Cook has more than 20 years of experience in the upstream oil and gas sector through his previous positions at Amoco, BP, and TNK-BP. Prior to joining TAQA, David Cook was Vice President for BP Russia. He has held a variety of global technical, commercial and managerial positions based from the United States, United Kingdom, and Russia, as well as board directorships. He holds a BSc in Geophysics and a PhD in Geological Sciences from Michigan State University.

Fred Dyment, Chairman of the Board of WesternZagros, welcomed Mr. Cook, stating, "TAQA's investment in WesternZagros demonstrates a vote of confidence in our business plan. The entire Board looks forward to working with David Cook in the future."

The proceeds from the private placement to TAQA will be used towards WesternZagros's 2011/2012 capital and operating program. Pursuant to the Investment Agreement, WesternZagros has granted certain rights to TAQA to participate for its pro-rata share in future equity issuances by the Company.

About TAQA

Abu Dhabi National Energy Company (TAQA) is a global energy company majority owned by the Abu Dhabi Government and listed on the Abu Dhabi Securities Exchange. Main activities include their oil and gas business, power generation and water desalination across four continents. TAQA is one the largest independent power producers in the world and the majority owner of the facilities that provide 98 per cent of the water and electricity requirements in the Emirate of Abu Dhabi. TAQA's power plants are located in the United Arab Emirates, Morocco, Oman, Saudi Arabia, Ghana, India, and the United States. With operations in Canada, the United Kingdom, the Netherlands and the United States, TAQA's oil and gas business includes exploration and production, gas storage and pipeline transportation. Their entrepreneurial culture, along with a commitment to people, safety and the environment, has created strong foundations for the long-term sustainable growth of their business.

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