WesternZagros Resources One2One Presentation - September 2011
WesternZagros Resources One2One Presentation - September 2011
WesternZagros Resources One2One Presentation - September 2011
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Financial Position (US$ millions)<br />
Working Capital Position (as at June 30, <strong>2011</strong>)<br />
Cash 50.7<br />
Non-Cash Working Capital (8.4)<br />
Insurance Receivable * 4.4<br />
Working Capital 46.7<br />
<strong>2011</strong> Capital and Operating Budget (amounts to be spent July 1 – Dec 31)<br />
Drilling and Related Operations ** 55.0<br />
Extended Well Testing (only until Sept. 30, <strong>2011</strong>) 4.0<br />
Field Office 4.0<br />
G&A and Business Development 5.0<br />
<strong>2011</strong> Capital and Operating Budget 68.0<br />
• Subsequent to June 30, <strong>2011</strong>, <strong>WesternZagros</strong> received the remaining $4.4 million of insurance proceeds to conclude the claim.<br />
** Includes the requirement for the Corporation to fully fund the Sarqala-1 re-entry and Mil Qasim-1 well and to fund its share of the costs of<br />
Kurdamir-2 well. Although <strong>WesternZagros</strong> is fully funding the Sarqala-1 re-entry and the Mil Qasim-1 well, 40% of these costs (approximately<br />
$25 to $30 million) will be refunded by the third party participant when this interest is assigned by the KRG.<br />
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