USD 66.263

-0.52

EUR 73.4989

-0.48

BRENT 60.37

+0.06

AI-92 42.26

+0.01

AI-95 46.04

+0.02

AI-98 51.73

-0.01

Diesel 45.96

+0.01

11

WesternZagros secures $57m financing from Crest

In the latest in a string of foreign investment developments in the Kurdish region of Iraq, Canadian explorer WesternZagros has obtained equity financing from Crest Energy International worth CAN$57 million.

WesternZagros secures $57m financing from Crest WesternZagros secures $57m financing from Crest


In the latest in a string of foreign investment developments in the Kurdish region of Iraq, Canadian explorer WesternZagros has obtained equity financing from Crest Energy International worth CAN$57 million.


Crest will buy 40.7 million shares at CAN$1.40 per share, a premium of around 10% from WesternZagros’s 4 August closing price on the Toronto TSX Venture Exchange, in a deal which it says will secure “financial stability” for the explorer’s drilling program.


WesternZagros ran over budget on previous exploration wells early in its drilling program.
 

Author: Neftegaz.RU