WesternZagros contracts two 2,000 HP rigs for Kurdistan

1/16/2013

WesternZagros contracts two 2,000 HP rigs for Kurdistan

CALGARY -- WesternZagros Resources has awarded a contract for two 2,000 HP drilling rigs with a leading North American drilling contractor. The two rigs have been contracted to drill the Hasira-1 well, the Baram-1 well and subsequent wells on the company's Garmian block in the Kurdistan Region of Iraq.

The drilling services contract was awarded for a two-year term with an option to extend for an additional two years. The contract also includes a provision for a third 2,000 HP rig if required. Drilling design and site construction are underway for both the Hasira-1 and Baram-1 wells and long lead items have been ordered in anticipation of the spud dates in June and August, 2013, respectively. The company is also actively assessing future drilling prospects, the selection of which will be influenced by its 3D seismic programs and drilling results on the Garmian block and neighbouring blocks.

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