BIG WAVE
05-30-2006, 05:48 PM
CALGARY, May 30 /CNW/ - Western Oil Sands ("Western") is pleased to
announce that the Board of Directors of each of Western and its wholly-owned subsidiary, WesternZagros Limited, has today approved entering into an Exploration and Production Sharing Agreement (EPSA), dated May 4, 2006, with the Kurdistan Regional Government, Sulaymaniyah Administration to explore for conventional oil and gas in the Federal Region of Kurdistan. This agreement will become effective when it is passed into law which is expected to occur in the coming months. Western's ongoing new business development efforts in identifying opportunities with large hydrocarbon resource potential has resulted in this significant corporate development.
The Federal Region of Kurdistan, in northern Iraq, is largely
under-explored, and is considered highly prospective for hydrocarbons. This region is administered by the Kurdistan Regional Government which has expressed a strong desire for foreign expertise and investment.
http://www.newswire.ca/en/releases/archive/May2006/30/c8687.html
announce that the Board of Directors of each of Western and its wholly-owned subsidiary, WesternZagros Limited, has today approved entering into an Exploration and Production Sharing Agreement (EPSA), dated May 4, 2006, with the Kurdistan Regional Government, Sulaymaniyah Administration to explore for conventional oil and gas in the Federal Region of Kurdistan. This agreement will become effective when it is passed into law which is expected to occur in the coming months. Western's ongoing new business development efforts in identifying opportunities with large hydrocarbon resource potential has resulted in this significant corporate development.
The Federal Region of Kurdistan, in northern Iraq, is largely
under-explored, and is considered highly prospective for hydrocarbons. This region is administered by the Kurdistan Regional Government which has expressed a strong desire for foreign expertise and investment.
http://www.newswire.ca/en/releases/archive/May2006/30/c8687.html