March 15 (Reuters) - Westernzagros Resources Ltd WZR.V :
* Westernzagros announces 2016 fourth quarter and year end results
* Sees FY 2017 revenue $17 million to $22 million
* Westernzagros Resources Ltd - in 2017, company anticipates average daily productive capacity of sarqala-1 will range from 4,500 bbl/d to 5,000 bbl/d
* Westernzagros Resources Ltd - qtrly revenue $4.9 million with an average realized price of $38.37/bbl
* Westernzagros Resources Ltd - sarqala-2 well is anticipated to spud in q3 of 2017
* Westernzagros Resources Ltd - estimates spending approximately $35 million in 2017 to operate sarqala production operations, among others
* Westernzagros Resources - final investment decision on sarqala-2 well is planned for Q2 with estimated cost net to company of $25 to $30 million
* Westernzagros Resources- co anticipates it is fully funded for currently planned activities for next twelve months (excluding drilling of sarqala-2)
* Westernzagros announces 2016 fourth quarter and year end results Source text for Eikon: ID:nCCN18FZSV Further company coverage: WZR.V