RE: NewsNR department says drilling has begun and results are expected for beginning of April. One day later, a NR states that they beginwith the ST now and results are expected mid April.
In every NR - following the same strategy as before - they talk about the great progress,leak some withheld info (this time: light 42° API), but finally mention, what really had happened.
"The gross cost of these repair operations is estimated to be approximately US$10 million.
The Company is currently funding the Sarqala-1 sidetracking and testing as an exclusive operation, which requires WesternZagros to fund 100 percent. The Company expects the gross costs associated with sidetracking and testing operations to be in the range of US$9 to 11 million."
So the S1-ST costs minimum (WZR is famous for not meeting expectations) 21m USD (wow, what an incredible cash burn rate).
So my fears were correct: they just needed the cash to continue with operation, because they had big problems again.
IMO the additional financing of Soros' and Paulson's funds was a simple "we must invest more, with the hope of getting all money out later, or lose all definately" decisision, and not a sign of confidence.