CALGARY, ALBERTA--(Marketwire - Feb. 11, 2013) -

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WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") has conducted further analysis of the results from the Kurdamir-2 well and provides a revision of its resource estimates for the Oligocene reservoir in the Kurdamir Block, as well as an update for the adjacent Oligocene reservoir in the Baram prospect on the Garmian Block. On the Baram prospect, the total mean estimate of gross unrisked prospective resources ("Mean Prospective Resources") increased by over 300 percent to 423 million barrels of oil ("MMbbl"). When gas and condensate are included the Mean Prospective Resources increased by 90 percent to 496 million barrels of oil equivalent ("MMBOE"). The Company's revised estimates are related to its interpretation that the Baram prospect has the potential to contain the extension of the Kurdamir oil leg in the Garmian Block (see Figure 1). The combined Mean Prospective Resources of the Kurdamir structure in the Oligocene, Eocene, and Cretaceous reservoirs and the Baram prospect in the Oligocene and Eocene reservoirs is now 1.7 billion barrels of oil, or over 2 billion barrels of oil equivalent when gas and condensate are included, as summarized in the table below. All of the revised estimates were audited by independent reserves evaluator, Sproule International Limited ("Sproule"), on February 8, 2013.

Simon Hatfield, WesternZagros's Chief Executive Officer, commented,

"As we understand the giant Kurdamir Discovery better, we are intrigued by the potential that the Baram prospect is an extension of Kurdamir. As such, we expect Baram-1 to be a high impact well and one of the most attractive opportunities on the Garmian Block. One of the rigs we have secured is currently being prepared in North America for deployment to Baram-1 and we anticipate spudding the well in the third quarter of this year."

To view Figure 1: Top Oligocene Depth Structure Map showing proximity of Kurdamir & Baram, please visit the following link: http://media3.marketwire.com/docs/211wzr_fig1.pdf

The Company's interpretation that the Baram prospect is an extension of the Kurdamir structure will be confirmed by drilling and testing the Baram-1 exploration well in 2013. The table below illustrates the combined mean estimate of gross unrisked contingent and prospective resources for both the Kurdamir discovery and the Baram prospect based on the most recent Sproule assessment audit.

		Mean Gross Resource Estimates (Unrisked)
Category		Oligocene		Eocene		Cretaceous		Category Totals
		Kurdamir	Baram	Kurdamir	Baram	Kurdamir	Baram	Kurdamir	Baram	Combined TOTAL
Contingent Resources Oil (MMbbl)		390		155				545		545
Contingent Resources Oil, Gas & Condensate (MMBOE)		717		226				943		943
Discovered in Place (MMbbl)		1265		614				1879		1879
Discovered in Place (MMBOE)		1795		828				2623		2623
Prospective Resources Oil (MMbbl)		1076	423	107	11	130		1313	434	1747
Prospective Resources Oil, Gas &Condensate (MMBOE)		1263	496	138	31	206		1607	527	2134
Undiscovered in Place (MMbbl)		3486	1365	417	819	574		4477	2184	6661
Undiscovered in Place (MMBOE)		4093	1603	539	964	819		5451	2567	8018

The individual assessments for each of the categories provided in the table above are outlined in more detail as follows:

Baram Prospect - Oligocene

Table 1(a), below, provides estimates of the gross unrisked recoverable prospective resources for the Oligocene reservoir of the Baram prospect as audited by Sproule as of February 8, 2013.

Table 1(b), below, provides estimates of the gross unrisked undiscovered petroleum initially-in-place, included in this latest Sproule audit for the Oligocene reservoir of the Baram prospect.

Low Estimate(7

)

Best Estimate(8

)

High Estimate(9

)

Mean Estimate(10

)

Table 1(a)

Prospect

Reservoir

Hydrocarbon

P90

P50

P10

Mean

Gross Unrisked

Type

MMbbl/Bcf

MMbbl/Bcf

MMbbl/Bcf

MMbbl/Bcf

Prospective Resources(1), (3)

Baram

Tertiary Oligocene

Oil

72

320

906

423

Garmian Block Oil, Gas

Solution Gas

70

330

955

440

and Condensate

MMBOE(11)

84

375

1065

496

As of Feb 8, 2013

Baram Total Mean MMbbl Oil Only - Gross Unrisked Prospective Resources

423

Baram Total Mean MMBOE - Gross Unrisked Prospective Resources

496

Low Estimate(7

)

Best Estimate(8

)

High Estimate(9

)

Mean Estimate(10

)

Table 1(b)

Prospect

Reservoir

Hydrocarbon

P90

P50

P10

Mean

Gross Undiscovered

Type

MMbbl/Bcf

MMbbl/Bcf

MMbbl/Bcf

MMbbl/Bcf

Petroleum (Oil and Gas)

Baram

Tertiary Oligocene

Oil Initially-In-Place

285

1143

2768

1365

Initially in Place (Unrisked) (1),(5)

Solution Gas Initially-In-Place

290

1175

2915

1425

Garmian Block

MMBOE(11)

333

1339

3254

1603

As of Feb 8, 2013

Baram Total Mean MMbbl Oil Only - Gross Unrisked Undiscovered Petroleum Initially-In-Place

1365

Baram Total Mean MMBOE - Gross Unrisked Undiscovered Petroleum Initially-In-Place

1603

Kurdamir Discovery - Oligocene

Based on a recalculation of Oligocene contingent and prospective resources, the contingent and prospective resources for the Kurdamir Oligocene reservoir that were disclosed in the Company's Material Change Report dated January 28, 2013, have been revised by the Company and audited by Sproule. This recalculation stems from changes in two reservoir parameters including new data obtained from the analysis of oil samples from DST 6 in the Kurdamir-2 well. The revision results in a minor reduction in the contingent resources and an increase in the prospective resources categories for the Kurdamir Block, as outlined below.

Kurdamir Block	Mean Gross Resource Estimates (Unrisked)
Category	Oligocene		Eocene		Cretaceous		Category Total
Contingent Resources Oil (MMbbl)	390		155				545
Contingent Resources Oil & Gas (MMBOE)	717		226				943
Prospective Resources Oil (MMbbl)	1076		107		130		1313
Prospective Resources Oil & Gas (MMBOE)	1243		138		206		1607

Tables 2(a) and 2(c), below, provide revised estimates of the gross unrisked recoverable contingent and prospective resources for the Oligocene reservoir of the Kurdamir structure as audited by Sproule as of February 8, 2013.

Tables 2(b) and 2(d), below, provide revised estimates of the gross unrisked discovered petroleum initially-in-place, included in this latest Sproule audit of the Oligocene reservoir of the Kurdamir structure.

The tables also include the unchanged resource estimates for the Eocene and Cretaceous reservoirs.

							Low Estimate(7	)	Best Estimate(8	)	High Estimate(9	)	Mean Estimate(10	)
	Prospect		Reservoir		Hydrocarbon		P90 (1C	)	P50 (2C	)	P10 (3C	)	Mean
					Type		MMbbl/Bcf		MMbbl/Bcf		MMbbl/Bcf		MMbbl/Bcf
	Kurdamir		Tertiary Oligocene		Oil		210		365		599		390
					Solution Gas		205		380		650		410
Table 2(a) Gross Unrisked					Associated Gas(6)		855		1220		1685		1250
Contingent					Condensate		30		49		71		50
Resources (1),(2)					MMBOE(11)		417		681		1059		717
Kurdamir Block Oil, Gas and Condensate	Kurdamir		Tertiary Eocene		Oil		69		138		263		155
As of Feb 8, 2013					Solution Gas		115		245		480		280
					Associated Gas		90		130		180		130
					Condensate		2		3		5		3
					MMBOE		105		204		378		226
	Kurdamir Total Mean MMbbl Oil Only - Gross Unrisked Contingent Resources												545
	Kurdamir Total Mean MMBOE - Gross Unrisked Contingent Resources												943

							Low Estimate(7	)	Best Estimate(8	)	High Estimate(9	)	Mean Estimate(10	)
	Prospect		Reservoir		Hydrocarbon		P90		P50		P10		Mean
					Type		MMbbl/Bcf		MMbbl/Bcf		MMbbl/Bcf		MMbbl/Bcf
	Kurdamir		Tertiary Oligocene		Oil Initially-In-Place		874		1242		1678		1265
Table 2(b) Gross Discovered Petroleum					Solution Gas Initially-In-Place		853		1298		1835		1325
(Oil and Gas) Initially in Place (Unrisked) (1),(4)					Gas Initially-In-Place		1301		1824		2451		1856
Kurdamir Block					MMBOE(11)		1233		1762		2393		1795
As of Feb 8, 2013	Kurdamir		Tertiary Eocene		Oil Initially-In-Place		344		572		928		614
					Solution Gas Initially-In-Place		565		1040		1730		1100
					Gas Initially-In-Place		130		185		255		185
					MMBOE		460		776		1259		828
	Kurdamir Total Mean MMbbl Oil Only - Gross Unrisked Discovered Petroleum Initially-In-Place												1879
	Kurdamir Total Mean MMBOE - Gross Unrisked Discovered Petroleum Initially-In-Place												2623

							Low Estimate(7	)	Best Estimate(8	)		High Estimate(9	)	Mean Estimate(10	)
	Prospect		Reservoir		Hydrocarbon		P90		P50			P10		Mean
					Type		MMbbl/Bcf		MMbbl/Bcf			MMbbl/Bcf		MMbbl/Bcf
	Kurdamir		Tertiary Oligocene		Oil		309		1018			1861		1076
					Solution Gas		310		1050			2030		1125
Table 2(c)					MMBOE(11)		361		1193			2199		1263
Gross Unrisked Prospective	Kurdamir		Tertiary Eocene		Oil		31		91			202		107
Resources(1), (3)					Solution Gas		50		160			350		185
Kurdamir Block Oil,					MMBOE		39		118			260		138
Gas and Condensate	Kurdamir		Cretaceous		Oil		38		108			243		130
As of Feb 8, 2013					Solution Gas		75		225			525		275
					Associated Gas(6)		65		140			260		155
					Condensate		2		4			8		4
					MMBOE		63		173			382		206
	Kurdamir Sub Total Mean MMbbl Oil Only - Gross Unrisked Prospective Resources													1313
	Kurdamir Sub Total Mean MMBOE - Gross Unrisked Prospective Resources													1607

							Low Estimate(7	)	Best Estimate(8	)		High Estimate(9	)	Mean Estimate(10	)
	Prospect		Reservoir		Hydrocarbon		P90		P50			P10		Mean
					Type		MMbbl/Bcf		MMbbl/Bcf			MMbbl/Bcf		MMbbl/Bcf
	Kurdamir		Tertiary Oligocene		Oil Initially-In-Place		1161		3620			5463		3486
Table 2(d) Gross Undiscovered Petroleum (Oil and					Solution Gas Initially-In-Place		1166		3694			5959		3642
Gas) Initially in Place					MMBOE(11)		1355		4236			6456		4093
(Unrisked) (1),(5)	Kurdamir		Tertiary Eocene		Oil Initially-In-Place		153		388			708		417
Kurdamir Block As of Feb 8, 2013					Solution Gas Initially-In-Place		250		680			1275		730
					MMBOE		195		501			921		539
	Kurdamir		Cretaceous		Oil Initially-In-Place		223		512			1014		574
					Solution Gas Initially-In-Place		430		1095			2165		1215
					Associated Gas Initially-In-Place		115		235			425		255
					MMBOE		314		734			1446		819
	Kurdamir Total Mean MMbbl Oil Only - Gross Unrisked Undiscovered Petroleum Initially-In-Place													4477
	Kurdamir Total Mean MMBOE - Gross Unrisked Undiscovered Petroleum Initially-In-Place													5451

Sproule carried out its independent audit in accordance with the current guidelines outlined in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Pursuant to the COGE Handbook, an audit is the process whereby an independent qualified reserves auditor carries out procedures designed to allow the auditor to provide reasonable assurance that a reporting issuer's reserves data (or specific parts thereof) have, in all material respects, been determined and presented in accordance with the COGE Handbook and are, therefore, free of material misstatement.

Notes to Tables 1(a), 1(b), 2(a), 2(b), 2(c) and 2(d):

1. The resources presented are the gross volumes estimated for the indicated reservoirs without any adjustments for the Company's working interest or encumbrances. For a description of the production sharing terms under the PSCs, see the Company's Annual Information Form dated March 26, 2012 available at www.sedar.com.

2. Contingent Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingent resources have an associated chance of development (economic, regulatory, market and facility, corporate commitment or political risks). These estimates have not been risked for the chance of development. There is no certainty that the contingent resources will be developed and, if they are developed, there is no certainty as to the timing of such development or that it will be commercially viable to produce any portion of the contingent resources. The Company's material change report dated January 25, 2013, which is available at www.sedar.com, contains additional detail on the specific contingencies which prevent the classification of these contingent resources as reserves.

3. Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery (geological chance of success) and a chance of development (economic, regulatory, market and facility, corporate commitment or political risks). The chance of commerciality is the product of these two risk components. These estimates have not been risked for the chance of discovery or for the chance of development. There is no certainty that any portion of the prospective resources will be discovered. If a discovery is made, there is no certainty that it will be developed or, if it is developed, there is no certainty as to the timing of such development or that it will be commercially viable to produce any portion of the prospective resources

4. Discovered Petroleum Initially-In-Place (equivalent to discovered resources) is that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations on Company lands prior to production. The petroleum type for this property is crude oil and natural gas. The recoverable portion of discovered petroleum initially-in-place includes production, reserves, and contingent resources; the remainder is unrecoverable (see Table 2(b); there are no reserves or production for this reservoir).

5. Undiscovered Petroleum Initially-In-Place (equivalent to undiscovered resources) is that quantity of petroleum that is estimated, as of a given date, to be contained in accumulations yet to be discovered on Company lands. The petroleum type for this property is crude oil and natural gas. The recoverable portion of undiscovered petroleum initially-in-place is referred to as prospective resources; the remainder is unrecoverable (see Table 2(d)). These are the gross undiscovered initially-in-place volumes estimated for the reservoirs in the Kurdamir structure below the lowest known oil. The undiscovered petroleum initially-in-place has not been risked for chance of discovery.

6. The gross unrisked contingent resources for gas reflect reductions for condensate recovery, surface losses, and fuel gas.

7. Low Estimate is considered to be a conservative estimate of the quantity that will actually be recovered. It is likely that the actual remaining quantities recovered will exceed the low estimate. If probabilistic methods are used, there should be at least a 90 percent probability (P90) that the quantities actually recovered will equal or exceed the low estimate.

8. Best Estimate is considered to be the best estimate of the quantity that will actually be recovered. It is equally likely that the actual remaining quantities recovered will be greater of less than the best estimate. If probabilistic methods are used, there should be at least a 50 percent probability (P50) that the quantities actually recovered will equal or exceed the best estimate.

9. High Estimate is considered to be an optimistic estimate of the quantity that will actually be recovered. It is unlikely that the actual remaining quantities recovered will exceed the high estimate. If probabilistic methods are used, there should be at least a 10 percent probability (P10) that the quantities actually recovered will equal or exceed the high estimate.

10. Mean Estimate is the average from the probabilistic assessment.

11. Barrels of oil equivalent (BOEs) may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bbl has been used and is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

About WesternZagros Resources Ltd.

WesternZagros is an international natural resources company engaged in acquiring properties and exploring for, developing and producing crude oil and natural gas in Iraq. WesternZagros, through its wholly-owned subsidiaries, holds a 40 percent working interest in two Production Sharing Contracts with the Kurdistan Regional Government in the Kurdistan Region of Iraq. WesternZagros's shares trade in Canada on the TSX Venture Exchange under the symbol "WZR".

This news release contains certain forward‐looking information relating, but not limited, to future drilling and appraisal plans, and the timing associated therewith, as well as predicted production rates. Forward-looking information typically contains statements with words such as "anticipate", "plan", "estimate", "expect", "potential", "could", or similar words suggesting future outcomes. The Company cautions readers not to place undue reliance on forward‐looking information as by its nature, it is based on current expectations regarding future events that involve a number of assumptions, inherent risks and uncertainties, which could cause actual results to differ materially from those anticipated by WesternZagros. In addition, the forward‐looking information is made as of the date hereof, and the Company assumes no obligation to update or revise such to reflect new events or circumstances, except as required by law.

Forward‐looking information is not based on historical facts but rather on management's current expectations and assumptions regarding, among other things, plans for and results of drilling activity and testing programs, future capital and other expenditures (including the amount, nature and sources of funding thereof), continued political stability, and timely receipt of any necessary government or regulatory approvals. Although the Company believes the expectations and assumptions reflected in such forward‐looking information are reasonable, they may prove to be incorrect. Forward‐looking information involves significant known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those anticipated by WesternZagros including, but not limited to, risks associated with the oil and gas industry (e.g. operational risks in exploration; inherent uncertainties in interpreting geological data; changes in plans with respect to exploration or capital expenditures; interruptions in operations together with any associated insurance proceedings; the uncertainty of estimates and projections in relation to costs and expenses and health, safety and environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the uncertainty associated with negotiating with foreign governments and risk associated with international activity. For further information on WesternZagros and the risks associated with its business, please see the Company's Annual Information Form dated March 26, 2012 (the "AIF"), which is available on SEDAR at www.sedar.com.

WESTERNZAGROS RESOURCES WAS RECOGNIZED AS A TSX VENTURE 50® COMPANY IN 2012. TSX VENTURE 50 IS A TRADE-MARK OF TSX INC. AND IS USED UNDER LICENSE.