WesternZagros - 500 Beiträge pro Seite

[sticky]

meine Damen und Herren, hier ein neuer Vorschlag zum Glück

vorab: Soros und Plauson haben hier Anteile an der Frima erworben...vielleicht hat man schon von denen gehört...


News Releases

JAN 17, 2011 - 03:30 ET

WesternZagros to Target Over 1 Billion BOEs during 2011/2012 Exploration Program

Latest Audit Confirms Significant Prospective Resources

CALGARY, ALBERTA--(Marketwire - Jan. 17, 2011) -

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 Sproule International Limited ("Sproule") has completed an independent audit of the Company's resource assessment of: the Tertiary Eocene and Cretaceous reservoir intervals of Kurdamir-1; the Jeribe reservoir at Sarqala-1; and the Upper Fars reservoir at Mil Qasim in the Kalar-Bawanoor Block ("Block K44"). This audit, together with the previous audit results of the Kurdamir-1 Tertiary Oligocene announced on December 16, 2010, confirms WesternZagros' assessment of the prospective resources at its five exploration targets for 2011/2012. The five prospects are, in anticipated order of drilling: Sarqala-1 Jeribe sidetrack appraisal; Mil Qasim-1 Upper Fars exploration well; and the Kurdamir Tertiary Oligocene, Tertiary Eocene and Cretaceous exploration tests, all three of which are to be drilled in the second Kurdamir well. The combined mean estimate of gross unrisked prospective resources for these five prospects is 792 million barrels of oil or 1,083 million barrels of oil equivalent when gas and condensate are added in.

"In addition to the approximate one trillion cubic feet of gas already discovered, these significant gross prospective oil resources validate the highly encouraging results we have achieved at our first two wells. We have the potential to discover 800 million barrels of recoverable light oil as we drill during the next 12 to 18 months," said Simon Hatfield, WesternZagros' Chief Executive Officer. "We're looking forward to applying the lessons learned from our past drilling challenges and realizing the huge upside on our Block."

The Company's best estimate of gross unrisked prospective oil resources is 86 million barrels (MMbbl) in the Kurdamir-1 Tertiary Eocene reservoir, 152 MMbbl in the Kurdamir-1 Cretaceous reservoir, 63 MMbbl in the Mil Qasim Upper Fars reservoir, and 66 MMbbl in the Sarqala-1 well Jeribe reservoir, as of January 14, 2011.

To view the Kurdamir Structure Schematic Cross Section graphic, please visit the following link: http://media3.marketwire.com/docs/117wzr_1.pdf

The above illustration indicates the schematic distribution of unrisked contingent resources and unrisked prospective oil resources in the Tertiary Oligocene, Tertiary Eocene and Cretaceous reservoirs at the Kurdamir-1 well in Block K44.

The prospective resource assessment numbers for the Tertiary Eocene and Cretaceous reservoirs at Kurdamir-1 are separate and in addition to the prospective resource assessment of the Tertiary Oligocene reservoir at Kurdamir-1 as previously disclosed on December 16, 2010. WesternZagros' best estimate of gross unrisked prospective oil resources on the flank of the Kurdamir Tertiary Oligocene reservoir is 260 MMbbl as of December 14, 2010, if this reservoir that lies below 2,469 metres on the flank of the structure contains oil. Tables 1 and 2 below provide the range of estimates including the previously announced estimates for the Kurdamir-1 Tertiary Oligocene.

The figure below indicates the schematic distribution of unrisked prospective oil resources in the Jeribe reservoir at the Sarqala-1 well, and in the Upper Fars reservoir at Mil Qasim in Block K44, as at January 14, 2011.

To view the Mil Qasim & Sarqala Structures Schematic Cross Section graphic, please visit the following link: http://media3.marketwire.com/docs/117wzr_2.pdf

The Company is assessing the potential of additional prospects, including satellite prospects adjacent to the Kurdamir discovery, and will continue to release the audited results of these assessments as they become available.

Sproule carried out an independent audit of the Kurdamir, Mil Qasim and Sarqala resources in accordance with the current guidelines outlined in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Pursuant to the COGE Handbook, an audit is the process whereby an independent qualified reserves auditor carries out procedures designed to allow the independent qualified reserves auditor to provide reasonable assurance that a reporting issuer's reserves data (or specific parts thereof) have, in all material respects, been determined and presented in accordance with the COGE Handbook and are, therefore, free of material misstatement.

Block K44 consists of approximately 2,120 square kilometres of land in the Kurdistan Region of Iraq. WesternZagros holds a 40 per cent working interest in Block K44 pursuant to a Production Sharing Contract ("PSC") with the Kurdistan Regional Government signed on February 28, 2008. Additional information concerning the terms of the PSC can be found in the Corporation's Annual Information Form dated March 25, 2010, which is available at www.sedar.com.

[MrRipley]

Antwort auf Beitrag Nr.: 41.054.033 von sticky am 16.02.11 21:58:49

Paulson und Soros?

Wann in welcher Weise und wieviel investiert?

Verfolge WZRR schon länger und bin über Einzelheiten gespannt.

[sticky]

Antwort auf Beitrag Nr.: 41.054.722 von MrRipley am 17.02.11 01:46:52

na...dann sind wir schon 2...

ich bin auch sehr überrascht...dass man bei WO bisher so eine Geschichte nicht verfolgt...

"Soros Fund Management, through Quantum Partners LP, disclosed today (Feb 10) that in January 2011 they bought 2.5 million shares of WZR, bring the company's total ownership of wzr shares to 23.0 million, approximately 11.1% of WesternZagro's outstanding shares. This makes Soros Fund Management the second largest shareholder of WesternZagros".

[MrRipley]

Antwort auf Beitrag Nr.: 41.066.428 von sticky am 18.02.11 15:11:02

Natürlich gibts seit 2008 nen Thread!
Mein Thread, die letzten News standen auch dort drin, doch ich habs irgendwie verpasst...

http://www.wallstreet-online.de/diskussion/1141457-31-40/tie…

[sticky]

Antwort auf Beitrag Nr.: 41.071.156 von MrRipley am 19.02.11 13:28:17

... das war auch kein Vorwurf an dich.... aber nun verstehe ich auch, dass ich nichts unter dem Namen finden konnte...

immerhin, zur Zeit wird "gedrillt"...und wir dürften die Nachrichten davon Ende März erhalten...


hier ist was zu Paulson:

"WESTERN ZAGROS (WZGRF), a Calgary-based Exploration outfit has a block in Kurdistan, Northern Iraq. Its partner is Talisman of Canada. It largest shareholder is John Paulson of Paulson & Co. It has approx. $100 million US dollars in the treasury"

http://seekingalpha.com/instablog/336846-ulysess/8807-wester….

[sticky]

Antwort auf Beitrag Nr.: 41.071.432 von sticky am 19.02.11 14:58:18

News Releases

FEB 23, 2011 - 16:01 ET

WesternZagros Resources Announces Intention to Raise C$40 Million in Common Share Offering by Way of Overnight-Marketed Private Placement

CALGARY, ALBERTA--(Marketwire - Feb. 23, 2011) -

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 its intention to undertake a brokered private placement of common shares (the "Shares"), through a syndicate of agents led by TD Securities Inc. and Scotia Capital Inc. (the "Agents"), in which the Agents will raise $40 million on an overnight-marketed best efforts basis (the "Offering"). WesternZagros has also granted the Agents an option to place up to an additional $10 million of Shares, which is exercisable by the Agents at any time up to 2 business days prior to closing. If this option is fully exercised, total gross proceeds will be approximately $50 million. The net proceeds of the Offering will be used for: the drilling of the Company's Sarqala-1 re-entry well and the Mil Qasim-1 exploration well; future exploration on the Company's oil & gas properties; working capital; and for general corporate purposes.

Shares issued under the Offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.

Closing of this Offering is expected to occur on or about March 10, 2011 and is subject to receipt of all necessary regulatory approvals including that of the TSX Venture Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The common shares being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of the U.S. Securities Act.

About WesternZagros Resources Ltd.

WesternZagros is an international natural resources company engaged in acquiring properties and exploring for, 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. WesternZagros' shares trade in Canada on the TSX Venture Exchange under the symbol "WZR".

This news release contains certain forward-looking information relating, but not limited, to operational information, future drilling plans and testing programs and the timing and costs associated therewith. Forward-looking information typically contains statements with words such as "anticipate", "estimate", "expect", "potential", "could", or similar words suggesting future outcomes. The Company cautions readers 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. Readers are also cautioned that disclosed test rates and potential production rates may not be indicative of ultimate production levels. In addition, the forward-looking information is made as of the date hereof, and the Company assumes no obligation to update or revise such to reflect new events or circumstances, except as required by law.

Forward-looking information is not based on historical facts but rather on management's current expectations and assumptions regarding, among other things, plans for and results of drilling activity, future capital and other expenditures (including the amount, nature and sources of funding thereof), continued political stability, timely receipt of any necessary government or regulatory approvals, the continued participation of the Company's co-venturers in exploration activities and the timely receipt of any insurance proceeds due to the Company. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect. Forward-looking information involves significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those anticipated by WesternZagros including, but not limited to, risks associated with the oil and gas industry (e.g. operational risks in exploration; inherent uncertainties in interpreting geological data; changes in plans with respect to exploration or capital expenditures; interruptions in operations together with any associated insurance proceedings; the uncertainty of estimates and projections in relation to costs and expenses and health, safety and environmental risks), risks associated with resource estimates, the risk of commodity price and foreign exchange rate fluctuations, the uncertainty associated with negotiating with foreign governments and risk associated with international activity. For further information on WesternZagros and the risks associated with its business, please see the Company's Annual Information Form dated March 24, 2010, which is available on SEDAR at www.sedar.com.
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
Chief Financial Officer
[phone]
or
WesternZagros Resources Ltd.
Lisa Harriman
Investor Relations
[phone]
[e-mail]
www.westernzagros.com

[sticky]

Antwort auf Beitrag Nr.: 41.096.180 von sticky am 23.02.11 23:48:40

.. die Kapitalerhöhung kommt etwas überraschend und stellt die Frage nach dem warum?

wollte man hier nur die gegenwärtige Lage und Focus auf das Thema Öl nutzen um seinen Kapitalbasis auszubauen... auf der anderen Seite hat man jetzt für eine massive Dilution gesorgt...

schlimmer noch... man handelte einem Zeitpunkt...bevor die Bohrergebisse gegen Ende März herauskommen sind...warum nicht warten?

man muss daher fürchten, dass die Bohrergebisse gegen Ende März nicht positiv ausfallen können...

[franz991]

Short-Bestand zum Ende Februar (TSX-V) besorgniserregend.

Short Summary
Short Volume As Of
1,536,834 28/Feb/2011
8,967 15/Feb/2011
6,967 31/Jan/2011

[MrRipley]

Antwort auf Beitrag Nr.: 41.150.381 von franz991 am 04.03.11 19:09:58

Warum?
Ist doch gesunken.

Solange es nicht 10-30% der Shares sind ist alles i.O.!

[sticky]

Antwort auf Beitrag Nr.: 41.099.437 von sticky am 24.02.11 13:44:42

....jetzt werden bald die Fakten sprechen müssen....


WesternZagros Begins Drilling Sarqala-1 Sidetrack
WesternZagros Begins Drilling Sarqala-1 Sidetrack

Mar. 29, 2011 (Marketwire) --

CALGARY, ALBERTA -- (Marketwire) -- 03/29/11 --

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") has begun drilling the planned sidetrack in the Sarqala-1 well in the Kurdistan Region of Iraq. The Company intends to drill a 100 metre sidetrack from the cased wellbore to test the Jeribe reservoir. Results from the drilling and testing program are anticipated in mid April, 2011. The Company originally drilled Sarqala-1 in 2008 and early 2009, suspending the well after equipment problems prevented logging. Subsequent analysis of the drilling cuttings from, and wireline well logs across, the Jeribe Formation showed good oil potential and led to the decision to re-enter the well bore and to undertake the current sidetrack operation.

"We're entering a very exciting phase in WesternZagros' development," commented Simon Hatfield, the Company's Chief Executive Officer. "Having fulfilled our near term financial requirements and applied lessons learned from our first two wells, we are now anticipating the testing program at Sarqala-1, to be quickly followed by drilling our Mil Qasim exploration well on the adjacent structure."

Prior to commencing the sidetrack, WesternZagros undertook repairs related to a minor casing leak located approximately half way down the well. The analysis of the oil leaking into the casing indicated it is 42.5 degrees API. The gross cost of these repair operations is estimated to be approximately US$10 million.

The Company is currently funding the Sarqala-1 sidetracking and testing as an exclusive operation, which requires WesternZagros to fund 100 percent. The Company expects the gross costs associated with sidetracking and testing operations to be in the range of US$9 to 11 million.

For further details on WesternZagros Resources Ltd., please refer to the March 2011 Corporate Presentation available on the WesternZagros website at www.westernzagros.com.

About WesternZagros Resources Ltd.

WesternZagros is an international natural resources company engaged in acquiring properties and exploring for, 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. WesternZagros' shares trade in Canada on the TSX Venture Exchange under the symbol "WZR".

This news release contains certain forward-looking information relating, but not limited, to operational information, future drilling plans and testing programs and the timing and costs associated therewith. Forward-looking information typically contains statements with words such as "anticipate", "estimate", "expect", "potential", "could", or similar words suggesting future outcomes. The Company cautions readers 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. Readers are also cautioned that disclosed test rates and potential production rates may not be indicative of ultimate production levels. In addition, the forward-looking information is made as of the date hereof, and the Company assumes no obligation to update or revise such to reflect new events or circumstances, except as required by law.

Forward-looking information is not based on historical facts but rather on management's current expectations and assumptions regarding, among other things, plans for and results of drilling activity, future capital and other expenditures (including the amount, nature and sources of funding thereof), continued political stability, timely receipt of any necessary government or regulatory approvals, the continued participation of the Company's co-venturers in exploration activities and the timely receipt of any insurance proceeds due to the Company. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect. Forward-looking information involves significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those anticipated by WesternZagros including, but not limited to, risks associated with the oil and gas industry (e.g. operational risks in exploration; inherent uncertainties in interpreting geological data; changes in plans with respect to exploration or capital expenditures; interruptions in operations together with any associated insurance proceedings; the uncertainty of estimates and projections in relation to costs and expenses and health, safety and environmental risks), risks associated with resource estimates, the risk of commodity price and foreign exchange rate fluctuations, the uncertainty associated with negotiating with foreign governments and risk associated with international activity. For further information on WesternZagros and the risks associated with its business, please see the Company's Annual Information Form dated March 24, 2010, which is available on SEDAR at www.sedar.com.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contacts:
WesternZagros Resources Ltd.
Greg Stevenson
Chief Financial Officer
[phone]

WesternZagros Resources Ltd.
Lisa Harriman
Investor Relations
[phone]
[e-mail]
www.westernzagros.com


Source: Marketwire (March 29, 2011 - 5:30 AM EDT)

News by QuoteMedia

[sticky]

Antwort auf Beitrag Nr.: 41.290.157 von sticky am 30.03.11 16:05:36

heute bei Reuters.... die Sorgenfalten werden größer...das ist kein gutes Warm-UP für die nachsten Nachrichten-- diese, oder nächste Woche...daher heute ein Sell-off....




UPDATE 1-WesternZagros raises going concern doubts on Iraq woes

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Stocks

Westernzagros Resources Ltd
WZR.V
$0.60
+0.03+5.26%
04/11/2011

Tue Apr 12, 2011 8:51am EDT

* Says can continue as going concern only if it gets funding

* Says no assurance that funding will be available

* Had deficit of $45.5 mln at the end 2010 (Adds details)

April 12 (Reuters) - WesternZagros Resources Ltd , which is engaged in exploring and producing crude oil and natural gas in Iraq, raised doubts about its ability to operate as a "going concern" unless it secures additional funding.

WesternZagros is one of the 40 foreign companies that have invested in the semi-autonomous northern region of Iraq, Kurdistan, and holds a production sharing contract with the regional government.

The company said the funding depends partly on the resolution of the contract negotiations and the ability to export from the semi-autonomous region.

Some companies began exporting oil from Kurdistan in February after years of wrangling between Kurdistan and Iraq, but the key issue of payments has still not been resolved. [ID:nLDE72912O]

Getting more funding will also depend on the resolution of the remaining political disputes in the war-torn country and the results of the company's exploration activities, WesternZagros said in a statement.

An Iraqi government official had said earlier in April that Iraq and Kurdistan are likely to reach an agreement in the second half of 2011. [ID:nLDE73422D]

WsternZargos, which posted a net loss of $5.7 million, or 3 cents a share last year, said it had an accumulated a deficit of $45.5 million at end of 2010.

There is no assurance that sufficient funds will be available in the future, said the company, which has a market value of about $130 million.

WesternZagros shares closed at 6 Canadian cents on Monday on the Toronto Stock Exchange.

(Reporting by Arnika Thakur in Bangalore; Editing by Saumyadeb Chakrabarty)

[manffreddoo]

...ist das ein Grund raus zu gehen??

[sticky]

Antwort auf Beitrag Nr.: 41.357.340 von manffreddoo am 12.04.11 20:30:46

...das ist meine Antwort für dich...was der Mensch in Indien bei dieser Veröffentlichung gedacht hat ist mir ein Rätsel... ein Kurs von 6 cent...oh boy...aber WZ hat trotzdem..einige unbeantwortete Fragen....


ADVISORY-Alerts and story on WesternZagros withdrawn
12 Apr 2011 12:30 ET

April 12 (Reuters) - Please be advised that the alerts and story on WesternZagros raising going concern doubts is wrong and is withdrawn. The 'going concern' qualification was part of the company's routine disclaimer and had been previously published.

There will be no replacement story.

STORY_NUMBER: nL3E7FC1N1; nWNAB3934 STORY_DATE: 12/04/2011 STORY_TIME: 1251 GMT

((Bangalore Equities Newsdesk [phone]; within U.S. [phone]))

Keywords: WESTERNZAGROS/

[franz991]

WesternZagros Begins Sarqala-1 Testing Program
Westernzagros Resources Ltd WZR
4/19/2011 5:30:00 AM


CALGARY, ALBERTA, Apr 19, 2011 (Marketwire via COMTEX News Network) --
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") is preparing to start the planned testing program at the Sarqala-1 well after a successful and incident-free completion of the sidetrack drilling and wireline logging. The sidetrack was drilled through the targeted path in the Jeribe Formation to a total depth of 3,893 metres. Drilling shows and log results indicate a potential gross pay interval of over 55 meters in this zone.

About WesternZagros Resources Ltd.

WesternZagros is an international natural resources company engaged in acquiring properties and exploring for, developing and producing crude oil and natural gas in Iraq. WesternZagros, through its wholly-owned subsidiaries, holds two Production Sharing Contracts with the Kurdistan Regional Government in the Kurdistan Region of Iraq.

WesternZagros' shares trade in Canada 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; its joint venture partner's continued participation in the exploration activities under the PSC, the ability to attract key personnel; the risk of commodity price and foreign exchange rate fluctuations.

All of WesternZagros' assets are located in the Kurdistan Region of Iraq. 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 WesternZagros' Annual Information Form dated April 11, 2011 which is filed at www.sedar.com and on the Company's web site.

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.

SOURCE: WesternZagros Resources Ltd.

WesternZagros Resources Ltd. Greg Stevenson Chief Financial Officer [phone] WesternZagros Resources Ltd. Lisa Harriman Manager of Investor Relations [phone] [e-mail] www.westernzagros.com

Copyright (C) 2011 Marketwire. All rights reserved.

http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?…

[sticky]

Antwort auf Beitrag Nr.: 41.388.441 von franz991 am 19.04.11 12:25:32

oh Mann, hier scheint ein Fehler den nächsten zu jagen....



WesternZagros Provides Operational Update

May 26, 2011 (Marketwire) --

CALGARY, ALBERTA -- (Marketwire) -- 05/26/11 --

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") has secured the 2,000 HP Viking Drilling Rig #10 through a contract with Maritas Co., a subsidiary of Viking Services of the United States, to drill the Mil Qasim-1 well. The additional horsepower of this rig provides increased optionality for drilling future prospects. The Viking Rig #10 is being mobilized for WesternZagros following drilling and testing of General Exploration Partners, Inc.'s Atrush-1 discovery in Northern Kurdistan. The Mil Qasim-1 well site construction is near completion with the anticipated spud date of the well in July 2011.

Testing of the Sarqala-1 well is delayed due to the requirement to replace production tubing, found to be defective despite recent third party inspection. Simon Hatfield, CEO of WesternZagros, commented, "While we are frustrated by the delay, such operational problems are a recognized risk and we remain committed to upholding internationally recognized safety standards and adhering to strict quality control guidelines to ensure well integrity. We look forward to reporting to stakeholders on the oil potential of the Jeribe reservoir in due course."

About WesternZagros Resources Ltd.

WesternZagros is an international natural resources company engaged in acquiring properties and exploring for, developing and producing crude oil and natural gas in Iraq. WesternZagros, through its wholly-owned subsidiaries, holds two Production Sharing Contracts with the Kurdistan Regional Government in the Kurdistan Region of Iraq.

WesternZagros' shares trade in Canada on the TSX Venture Exchange under the symbol "WZR".

This news release contains certain forward-looking information relating, but not limited, to operational information, future drilling plans and testing programs and the timing associated therewith. Forward-looking information typically contains statements with words such as "anticipate", "estimate", "expect", "potential", "could", or similar words suggesting future outcomes. The Company cautions readers 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. In addition, the forward-looking information is made as of the date hereof, and the Company assumes no obligation to update or revise such to reflect new events or circumstances, except as required by law.

Forward-looking information is not based on historical facts but rather on management's current expectations and assumptions regarding, among other things, plans for and results of drilling activity, future capital and other expenditures (including the amount, nature and sources of funding thereof), continued political stability, timely receipt of any necessary government or regulatory approvals, and the timely receipt of any insurance proceeds due to the Company. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect. Forward-looking information involves significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those anticipated by WesternZagros including, but not limited to, risks associated with the oil and gas industry (e.g. operational risks in exploration; inherent uncertainties in interpreting geological data; changes in plans with respect to exploration or capital expenditures; interruptions in operations together with any associated insurance proceedings; the uncertainty of estimates and projections in relation to costs and expenses and health, safety and environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the uncertainty associated with negotiating with foreign governments and risk associated with international activity. For further information on WesternZagros and the risks associated with its business, please see the Company's Annual Information Form dated April 11, 2011, which is available on SEDAR at www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contacts:
WesternZagros Resources Ltd.
Greg Stevenson
Chief Financial Officer
[phone]

WesternZagros Resources Ltd.
Lisa Harriman
Manager of Investor Relations
[phone]
[e-mail]
www.westernzagros.com

[starbull]

Wer weiß schon wieder mehr? Gestern in CA 2,5 Mio Stück Umsatz ohne Nachrichten! Großes Kursplus! So darfs weiter gehen.

[franz991]

Antwort auf Beitrag Nr.: 41.580.611 von starbull am 31.05.11 11:46:19

Heutige News lesen.

[franz991]

Hier den Link zur heutigen "Great" News.

http://www.stockhouse.com/tools/?page=/FinancialTools/sn_new…