Production in 4Q15 of 1,952 bbl/d and cash flow of negative US$1 mm were slightly below our estimates. Our 2016e production forecast has been reduced, given shut-in volumes in 1Q16e and delays in drilling the Sarqala-2 well. Our 2016e cash flow estimate has decreased to nil, due to our reduced production forecast and realized pricing becoming pegged and fluctuating with Brent. The development plans for the Kurdamir Block and Garmian Block have not yet been approved by the KRG. Field development ....
17 Mar 2016
Reports Year-End 2015 Results
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Reports Year-End 2015 Results
WESTERNZAGROS RESOURCES (WZR:TSE) | 0 0 0.0%
- Published:
17 Mar 2016 -
Author:
Darren B. Engels -
Pages:
6
Production in 4Q15 of 1,952 bbl/d and cash flow of negative US$1 mm were slightly below our estimates. Our 2016e production forecast has been reduced, given shut-in volumes in 1Q16e and delays in drilling the Sarqala-2 well. Our 2016e cash flow estimate has decreased to nil, due to our reduced production forecast and realized pricing becoming pegged and fluctuating with Brent. The development plans for the Kurdamir Block and Garmian Block have not yet been approved by the KRG. Field development ....