Wednesday, February 8, 2012

France's Total makes move in Kurdistan - Junior Oils to Appreciate

excerpt below, for full news click on link above:

Energy News Update
Total Makes First Move Into Iraqi Kurdistan
Total Makes First Move Into Iraqi Kurdistan

Sources say French major signs deal for four oil blocks.

France’s Total has signed an agreement with the semi-autonomous Kurdistan Regional Government to develop four oil blocks, two of them previously allocated to foreign operators already active in the province, Kurdish sources said February 4.

The sources told Platts that two of the blocks were previously allocated to ShamAran Petroleum, a Canada-based independent with a focus on Kurdistan, and to Petoil, a Turkish company which has four exploration and production assets in the province.

The two other blocks are located in Khalikan, in the south central part of Kurdistan, the sources said.


Perhaps this is cause for Westernzagros's (WZGRF, TSX:WZR) movement up by over 10% in the last few days!


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