TSX.V: WZR www.westernzagros.com Morgan Stanley Canadian Energy Conference Calgary, Canada - November 7-9, 2011
Exceptional Exploration Success with the Start of Production Targeting over 1 billion prospective BOEs in Separators and Wellhead Shipping Pump Manifold the next 8 months (includes the Sarqala-1 oil discovery, Mil Qasim-1 and Kurdamir-2)…
WesternZagros Today Symbol (TSX Venture Exchange) WZR First Listed October 22, 2007 1 Basic Shares Outstanding 371.2 million 2 Diluted Shares Outstanding 396.3 million 3 Director & Officer Ownership 6.5% 4 Market…
Financial Position (US millions) Working Capital Position (as at June 30, 2011) Cash 50.7 Non-Cash Working Capital (8.4) Insurance Receivable 1 4.4 October 25, 2011 Private Placement Proceeds2 46.6 Working Capital 93.3 2011…
The WesternZagros Story: Steady Progress One of the first four operators in the Kurdistan Region: Updated resource assessment Large hand-picked exploration block Sproule audit of prospective resources supports over 3.5 billion BOEs…
Three Wells to Target over 1 Billion BOEs of Prospective Resources * 20 - 25 million Sarqala-1 Extended well test commenced on October 18, 2011; lifting on October 27, 2011 gross cost ** Re-Entry Oil discovery 30 - 35 million Mil…
Near Term Potential Value Creation: 2011-2012 Gross Unrisked Prospective Resources (Audited) * October 25, 2011 Spudded Kurdamir-2 well August 29, 2011 Spudded Mil May/June 2011 Qasim-1 well Oil Discovery 9,444 bopd 40o API…
WesternZagros Kurdamir and Garmian Blocks Located for Success Tremendous potential of the region long recognized by industry WesternZagros in early: hand-picked its exploration acreage Our PSC lands contain a large number of…
The Kurdistan Region of Iraq Current Export Production Current Export Volumes* Taq Taq 60,000 bopd (trucked) Tawke 72,000 bopd Khurmala 35,000 bopd Kor Mor 14,000 bopd (trucked) Shaikan 5,000 bopd (trucked) Current Exports 186,000…
Kurdamir and Garmian Blocks Oil Prone Kurdamir -1 Well Discovery Photo of natural oil seep Analysis of actual oils and condensate recovered confirms Aaliji source rock (Analysis conducted by Weatherford Labs) Aaliji Source…
Multiple Prospects: Oil & Gas Garmian Block Mil Qasim-1 currently drilling (Third commitment well) Kurdamir Block Kurdamir-2 well spud on October 25, 2011 Significant well in adjacent Block Topkhana-1 well (Talisman -…
Political Environment Progressing October 2005 February 2011 Iraqi constitution adopted Iraq Prime Minister announces Kurdistan PSCs will be respected February 2007 Oil exports from Kurdistan resume Draft Federal Petroleum Law…
Production Sharing Contract (PSC): Fair and Balanced Terms Oil Case When the R-Factor (revenue/cost) is below one, the Contractor Group is entitled to 35% of the Profit Oil. The Contractor Groups percentage is then reduced on a…
Competitive PSC Terms 200mm upon Entry 280mm due June 30 '12 140mm upon Entry 65mm upon Entry 1. Repsol and Norbest maximum profit oil rate is 32% and 23.8% until such time the R-Factor is greater than 1 2. Not adjusted…
Near Term Opportunities of the Garmian Block Sarqala Oil discovery in the Jeribe Formation Flowed light, 40 API oil at rates of over 9,000 bopd Received KRG approval in late September 2011 to begin producing first oil through an…
Oil Discovery At Sarqala-1 Followed By Opportunity at Mil Qasim-1 (Garmian Block) Sarqala -1 Well Sidetrack completed through Jeribe Formation The Jeribe Formation flowed light, 40 API oil at rates of over 9,000 bopd (no stimulation,…
Mil Qasim-1 (Garmian Block): Currently Drilling Targeting Upper Fars reservoir, where high pressure 35 - 42 degree API oil was encountered at Sarqala-1 Oil shows encountered above the targeted Upper Fars reservoir of the Mil Qasim-1…
Near Term Opportunities of Kurdamir Block Kurdamir-2 was spud on October 25, 2011 Contracted 2,000 HP Deutag rig Kurdamir-2 to be drilled by June 30, 2012 Kurdamir-2 Rig Site Sept 30, 2011 21
Success at Kurdamir: Over 1,900 Metres of Gross Hydrocarbon Interval Confirmed excellent Oligocene reservoir Confirmed oil column in the Oligocene reservoir, testing light oil with major upside Prospective Resources (MMbbls) P90…
Kurdamir-Topkhana Structure: The Potential Oligocene Reward Oil is confirmed in the Oligocene reservoir Analysis of condensate discovered on crest of Kurdamir-Topkhana Structure indicates an oil source Gas cap on crest of…
Kurdamir-Topkhana Structure Topkhana well results in 2011/2012 to confirm whether the Kurdamir Structure extends off the Block WesternZagros has no ownership interest in this well Kurdamir-2 will be the important test…
Kurdamir-2 (Kurdamir Block): Currently Drilling Kurdamir-2 spudded on Horizon Legend Ground Elevation October 25, 2011 Upper Fars Lower Fars Evaporite Objectives to evaluate and test Base Fars Detachment Lower Fars Transition…
WesternZagros: On the Cusp of a Major Oil Discovery The Kurdamir and Garmian Blocks, combined, form one of the largest exploration areas in Kurdistan, one of the worlds most exciting exploration regions Current team is highly…
Loading...
