USD 63.7606

-0.19

EUR 71.1696

+0.04

BRENT 58.94

-0.11

AI-92 42.28

+0.01

AI-95 46.04

+0.01

AI-98 51.75

0

Diesel 46.25

-0.01

20

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