WesternZagros Resources Ltd. (TSXV:WZR) has reported that it has $18.5 million in working capital at the end of second quarter ended June 30, 2012.
As quoted in the press release:
WesternZagros had $18.5 million in working capital at end Q2 2012. Combined with the subsequent receipts of $57 million and $56 million net, from Crest and Gazprom Neft, respectively, the cash on hand is $131.5 million.
WesternZagros’s Chief Executive Officer, Simon Hatfield commented:
We look forward to working with our respective co-venturers on both of our Blocks as we ramp up for high potential exploration and appraisal activities.