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WesternZagros Commences Drilling in Kurdistan
9.5.2008
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May 9, 2008
CALGARY, ALBERTA--(Marketwire - May 8, 2008)
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros")
is pleased to announce today that it has commenced
drilling at Sarqala-1. The well is planned to target
four potential reservoirs zones, reaching a total
depth of approximately 4,800 metres. Sarqala-1 is
expected to take between 120 and 130 days to drill.
"We are very excited about spudding our first well
in Kurdistan," said Simon Hatfield, President of
WesternZagros. "This is a momentous achievement for
the Company and it is a result of the spirit of
cooperation between the Kurdistan Regional
Government and WesternZagros. Sarqala-1 is the first
well of a multi-well drilling exploration program
planned over the next three years."
In addition to commencing drilling operations,
WesternZagros continues to actively acquire seismic
over the Kalar-Bawanoor Block. WesternZagros is
pleased to report that it has exceeded its seismic
commitment under its Production Sharing Contract ("PSC")
with the acquisition of over 1,265 kilometres to
date. |
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WesternZagros is the
operator under the PSC with a 40 per cent working
interest.
About WesternZagros Resources Ltd.
WesternZagros is an international natural resources
company engaged in acquiring properties and
exploring for,www.ekurd.net
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.
The Company's shares trade 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 the Company's Annual
Information Form which is filed at www.sedar.com.
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.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this
release.
FOR FURTHER INFORMATION PLEASE CONTACT:
WesternZagros Resources Ltd.
Greg Stevenson
Vice President, Finance
(403) 693-7007
or
WesternZagros Resources Ltd.
Dorreen Miller
Manager, Investor Relations & Communications
(403) 693-7019
Copyright, respective author or news agency,
westernzagros com
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