I am all out now.Too many times they have had a good news release prior to disclosure of garbage.
I will buy back on positve testing over 5,000 barrels /day and follow it up. But I remember all to well 0.25 like it was yesterday.
My problem is based on history of NR from these bozos
Eg.-May 7/2010 they said with a positve tone and trading @0.60`s
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
CALGARY, ALBERTA--(Marketwire - May 7, 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") is pleased to announce positive results of geochemical analysis from Kurdamir-1 oil samples. Weatherford Laboratories in Houston conducted an independent analysis of a series of oil samples extracted from drilling fluids from the Kurdamir-1 wellbore in the original 8-1/2" hole section. An Aaliji Formation oil sample has yielded a high quality crude oil with an API gravity of 31 degrees. Several additional oil samples from the deeper Shiranish and Kometan Formations are of similar quality. Oil in the drilling mud reached four percent by volume while drilling these formations.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Then on May 17th, just 10 days later after those in the know had time to position themseles they released this NR. and they plummeted to the 30`s
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
MAY 17, 2010 - 07:47 ETWesternZagros Kurdamir-1 Sidetrack Operational Update
CALGARY, ALBERTA--(Marketwire - May 17, 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") announces that, while attempting to stabilize the high pressure hydrocarbon zone encountered at Kurdamir-1 as previously announced, the well has had to be shut in. WesternZagros had drilled the Kurdamir-1 sidetrack hole through the Upper Aaliji Formation into the Lower Aaliji Seal to a depth of 3,214 metres. At that depth, higher than anticipated pressures were encountered and the Company had planned to set a 7-inch casing liner after stabilizing the well and running wireline logs. While attempting to stabilize the well, a section of the drill string failed, resulting in damage to the drilling mud circulating system and further hampering well control activities.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Not a lot of confidence for me on this play
These things are far to common for this company
GLTU that hold may the stock gods be with you. yYu have earned a reward