WesternZagros Resources One2One Presentation - September 2011

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Hydrocarbon Habitat of Surrounding Discoveries Oil Discovery 1900 metres gross hydrocarbon interval 1200 metres gross hydrocarbon interval 1800 metres gross hydrocarbon interval Most of the fields in the chart that show shallow discoveries may have remaining undiscovered potential if drilled deeper. Sources include: 2006 Petroleum Geological Analysis Ltd. (PGA) Report and news releases. 14
Production Sharing Contract (PSC): Fair and Balanced Terms Royalty Oil 10% of total crude oil Oil Case When the R-Factor (revenue/cost) is below one, the Contractor Group is entitled to 35% of the Profit Oil. The Contractor Group’s percentage is then reduced on a linear scale to a minimum of 16% as the ratio is 2 or greater. Gas Case When the R-Factor is below one, the Contractor Group is entitled to 40% of the Profit Gas. The Contractor Group’s percentage is then reduced on a linear scale to a minimum of 20% as the ratio is 2.75 or greater. Cost recovery gas: up to 55% of net available gas. 15
Page 1 and 2: www.westernzagros.com Corporate Pre
Page 3 and 4: Exceptional Exploration Success on
Page 5 and 6: WesternZagros Today Symbol (TSX Ven
Page 7 and 8: The WesternZagros Story: Steady Pro
Page 9 and 10: Near Term Potential Value Creation:
Page 11 and 12: The Kurdistan Region of Iraq Curren
Page 13: Multiple Prospects: Oil & Gas Garmi
Page 17 and 18: Political Environment Progressing O
Page 19 and 20: Oil Discovery At Sarqala-1 Followed
Page 21 and 22: Near Term Opportunities of Kurdamir
Page 23 and 24: Success at Kurdamir: Over 1,900 Met
Page 25 and 26: Kurdamir-Topkhana Structure Topkhan
Page 27 and 28: Kurdamir-Topkhana Structure: Additi
Page 29 and 30: Multiple Transportation and Market
Page 31 and 32: Making a Difference Where We Operat
Page 33 and 34: WesternZagros: On the Cusp of a Maj
Page 35 and 36: Experienced Management & Strong Tec
Page 37 and 38: Board of Directors - Disciplined, I
Page 39 and 40: Garmian Block Contingent and Prospe
Page 41 and 42: Garmian Block Prospective Resources
Page 43 and 44: Kurdamir and Garmian Blocks Prospec
Page 45 and 46: The Region’s Oil & Gas Fields 45
Page 47 and 48: Kurdistan Recent PSC Activity Taza
Page 49 and 50: Bai Hassan: Analogue for Kurdamir-T
Page 51: www.westernzagros.com Head Office 6

WesternZagros Resources One2One Presentation - September 2011

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