Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on WESTERNZAGROS RESOURCES LTD. We currently have 19 research reports from 1 professional analysts.
Frequency of research reports
Research reports on
WESTERNZAGROS RESOURCES LTD
WESTERNZAGROS RESOURCES LTD
GMP FirstEnergy ― UK Energy morning research package
20 Mar 17
Valeura Energy (VLE CN)1,6: BUY, C$1.50: 4Q16 results and reduced 2017 guidance | JKX Oil & Gas (Not covered): FY16 results | SDX Energy (SDX LN/CN)1; Buy, £0.65: Commencement of drilling operations at South Disouq | WesternZagros (WZR CN)8; Speculative Buy, C$0.50: 4Q16 results and prepares to drill Sarqala-2 | Tullow Oil (TLW LN): HOLD, £2.60: Forcing investors to double down | Royal Dutch Shell (RDSA/B LN) (not covered) and ENI (ENI IM) (not covered): Recovering control of OPL245 in Nigeria
Reports 2Q16 Results
12 Aug 16
WesternZagros reported 2Q16 production results of 4,884 (1,953 bbl/d net) from the Sarqala-1 well on the Garmian Block. To date, the well has now produced over 3 mmbbl of light oil with no indications of formation water and no hydrogen sulphide. As previously announced in 2Q16, the Garmian field development plan was approved and the Kurdamir field development plan was submitted. At the present time, there is very little operational activity being undertaken. The Sarqla-2 well is expected to spud in 1H17e.
WESTERNZAGROS RECEIVES FIELD DEVELOPMENT PLAN APPROVAL FOR THE GARMIAN BLOCK, SARQALA DISCOVERY
31 May 16
WesternZagros has received field development plan (FDP) approval for the Garmian Block, Sarqala discovery (40% WI). Approval will enable WesternZagros to proceed with the development drilling of the Sarqala-2 and -3 wells, which also realizing incremental value via the expected reclassification of prospective resources to reserves.
Continues to Work toward Field Development Plan Approval – Stay Tuned
20 May 16
WesternZagros reported 1Q16 results that were inconsequential. As previously announced, production in 1Q16 was significantly curtailed as new payment arrangements were being finalized. The Kurdistan export pipeline also experienced a disruption. At the Garmian Block (Sarqala discovery), WesternZagros continues to wait for field development plan approval. WesternZagros is ready to drill the Sarqala-2 well, post FDP approval. At the Kurdamir Block, WesternZagros and Repsol are progressing negotiations with the Kurdistan Regional Government to advance the field development plan. The co-ventures have completed engineering, are reviewing bids for construction of the natural gas plant, and negotiating a gas sales agreement. Work continues to advance.
RESUMES PRODUCTION FROM THE SARQALA-1 WELL
03 May 16
Market Impact: Positive. WesternZagros has resumed production from the Sarqala-1 well on the Garmian Block (40% WI). We were not anticipating production to resume until late 2Q16e/early 3Q16e. The well is expected to average approximately 5,000 bbl/d (2,000 bbl/d net), which is in line with production levels prior to being temporarily shut-in.
INCREASES DEBT FACILITY FLEXIBILITY
27 Apr 16
Market Impact: Positive. WesternZagros has amended its US$200 mm unsecured and undrawn credit facility. The revised drawdown dates are now expected to more appropriately match capital spending. The Company's current working capital is sufficient to meet the current commitments in 2016e.
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
Small Cap Breakfast
19 Apr 17
Global Ports Holding—Intention to float on Standard List. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected 3 May. RTO of Escape Hunt raising £14m at 135p Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1. Admission expected 25 April but capital raising details TBC. ADES International Holding— Intends to join the Standard List in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.
24 Apr 17
Lok’nStore* (LOK): Growth supported by a strong balance sheet (CORP) | Mortice* (MORT): UK acquisition (CORP) | Avacta* (AVCT): Another milestone – 1st non-therapeutics licence (CORP) | Petra Diamonds (PDF): Trading update and Q3 results (BUY) | Nasstar* (NASA): Growth and margin focus (CORP)