OTCPK:WSRLF - Post by User
Post by
FXi7on Sep 09, 2009 6:22pm
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Post# 16291460
We have been noticed
We have been noticed
Junior oil explorer hits 52-week high.
WesternZagros Resources (TSX: V.WZR, Stock Forum) was among the most active stocks trading on the TSX Venture index on Wednesday and topped the most active securities by value.
The Calgary-based exploration and production company holds a production sharing contract (PSC) with the Kurdistan Regional Government in the Kurdistan region of northern Iraq.
Companieswith interests in the Kurdistan region are hitting new highs this week.And the recent rise in prices has spurred some investors to proceedwith caution. “Both WZR and VST are hitting 52 week highs. One needs towonder whether this warrants some caution as this is relativelyuncharted territory,” said SlicedCheese
Yemen, who says he has experience as a driller in Alberta, said he hoped the company would continue to hireexperienced personnel. He commented: “Same deal, highly fractured rock,difficult geology, very high pressure zones. stuck tools, difficultywith mud and lost circulation problems. You absolutely must have toppersonnel on the job at all times. They cannot afford to let theirguard down for even a foot on this hole. Give me the driller, toolpush, drill sup, floor personnel, mud man, well site geologist with thesunburned creases in their faces and leave the fresh faced kids athome; Thank you very much.
From the lack of news, I think they are making steady progress to theTD [total depth]. Another month and if we are lucky the DST [drillstem test] should start.”
There are other small e&p companies drilling in Kurdistan. Rickstabber noted that an Australian wildcat firm had confirmed oil on the southern boundary of WZR’s acreage.