WesternZagros Resources Ltd. - 2012-08-13

WesternZagros Resources has closed its previously announced strategic investment with Crest Energy International LLC whereby Crest has purchased from WesternZagros, through a non-brokered, private placement, 40,714,286 Common Shares of the Company at a price of Cdn$1.40 per share for gross proceeds of $57 million. The proceeds of the private placement will be used to fund the Company's share of costs for further testing on its Kurdamir-2 well, 3D seismic on the Kurdamir discovery, drilling of the Kurdamir-3 well, 3D seismic on the Sarqala discovery and other planned exploration and appraisal activities on the Garmian Block, as well as for general corporate purposes.