Sign up USA
Proactive Investors - Run By Investors For Investors

WesternZagros Resources' Kurdamir-1 well in Iraq yields high test rates

WesternZagros Resources' Kurdamir-1 well in Iraq yields high test rates

WesternZagros Resources (TSX-V:WZR) said Monday it has completed the first "cased hole" test of the Lower Oligocene formation in the Kurdamir-1 exploration well in Iraq, achieving a maximum flow rate of 18.3 million cubic feet per day of gas.

The tested zone, which was between 2,365 metres and 2,415 metres, achieved the flow rate at a wellhead pressure of 1,960 pounds per square inch, with a maximum yield of 86 barrels of high quality, 62 degrees API natural gas liquids per million cubic feet of gas.

"We are pleased by the high flow rates and rich condensate yield achieved from this test. It further confirms the world class nature of the Oligocene reservoir which can exhibit high test rates even from its lower quality zones," said CEO Simon Hatfield.

The company said that no formation water was recovered during the testing. However, a mixture of light crude oil and condensate was found prior to acidizing the formation. WesternZagros said that after acidizing the well, high gas flow rates and pressures prevented further oil flow.

The company is planning on performing an additional cased hole test deeper in the Lower Oligocene to confirm the thickness of the oil leg below the gas and condensate.

"We're also very encouraged by the oil recovered, as it confirms the potential of an Oligocene oil leg in the Kurdamir structure," Hatfield added.

WesternZagros' third quarter results are expected on November 18, 2010, when further details on the operation will be provided.

The Calgary-based company, whose share were up more than 3% on Monday, explores, develops and produces crude oil and natural gas in Iraq. It holds a production-sharing contract with the Kurdistan Regional Government.

View full WZR profile

WesternZagros Resources Timeline

November 13 2015

Related Articles

October 16 2015
YPF's "super well" at Loma Campana has got the neighbors excited, among them Toronto-listed Madalena Energy.
June 09 2015
The all-paper deal is worth C$1.01 per share to Primeline shareholders
May 22 2015
WesternZagros has a healthy balance sheet, ending the first three months of the year with US$158.6 million in cash and equivalents as well as an additional US$200 million from an undrawn credit facility.
Copyright ©, 2015. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC