OTCPK:WSRLF - Post by User
Post by
miner49er62on Aug 02, 2010 1:26pm
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Post# 17315224
insurance claim
insurance claimThis is from the company June 2nd. The insurance claim is for damages suffered, paid retro-actively, not for future or ongoing expenditures and drilling techniques. I am sure that if there was any incompetence on WZR's part, the claims would not have been paid. The insurance company may be watching progress closely but I doubt that they would be involved in operations. We have not yet been told if WZR was able to get insurance again after this claim.
JUN 2, 2010 - 23:51 ETWesternZagros Provides Updates on Insurance and Annual General Meeting Webcast
CALGARY, ALBERTA--(Marketwire - June 2, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") has received confirmation of well control insurance coverage from approximately 80 percent of the insurance syndicate, as well as approval for the first interim payment of $5.7 million. The Company continues to pursue approvals from the remaining insurers for claims related to the well control and sidetracking efforts at its Kurdamir-1 well.