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WesternZagros Resources Ltd. (CVE:WZR) reported that Sproule International Limited has completed an independent audit of its resource assessment for the Jeribe/Upper Dhiban reservoir interval of the Sarqala-1 well.
WesternZagros Resources Ltd. (TSXV:WZR) reported that Sproule International Limited has completed an independent audit of its resource assessment for the Jeribe/Upper Dhiban reservoir interval of the Sarqala-1 well.
The press release is quoted as saying:
Sarqala-1 is located in the Company’s Garmian Block in the Kurdistan Region of Iraq and was drilled on the crest of the Sarqala structure. Consequently, the Company is now reporting, for the first time, contingent resources for Sarqala-1. The Company’s mean estimate of gross contingent resources for this interval is 24 million barrels (MMBBL) of oil, or 31 million barrels of oil equivalent (MMBOE), as of September 7, 2011.
WesternZagros’, CEO, Simon Hatfield, said,
“We continue to be encouraged by the steadily continuing rise in recoverable resource estimates and look forward to starting the extended test of the Sarqala-1 well in the near future. Not only does the confirmation of contingent resources at Sarqala also result in a significant increase in prospective resources, it substantially reduces the risk associated with them. This report further confirms the tremendous prospectivity of our blocks’ assets,”
Click here to access the entire press release
