WesternZagros Resources Ltd.

Annual General and Special Meeting

June 1, 2010

Caution to the Reader

This presentation contains forward-looking statements with respect to WesternZagros, including but not limited to operational information, future exploration anddevelopment plans and anticipated future production and resources. Forward-looking information typically contains statements with words such as “anticipate”, “estimate”,“potential”, “could”, or similar words suggesting future outcomes. WesternZagros cautions readers and prospective investors in the Company’s securities to not place unduereliance 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 anduncertainties, which could cause actual results to differ materially from those anticipated by WesternZagros. Readers are also cautioned that disclosed test rates andpotential production rates may not be indicative of ultimate production levels.

Forward looking information is based on management's current expectations and assumptions regarding, among other things, plans for and results of drilling activity, futurecapital and other expenditures (including the amount, nature and sources of funding thereof), future economic conditions, future currency and exchange rates, continuedpolitical stability and the Company's continued ability to obtain qualified staff and equipment in a timely and cost efficient manner. In addition, budgets are based uponWesternZagros' current exploration plans and anticipated costs both of which are subject to change based on, among other things, the actual results of drilling activity,unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information arereasonable, they may prove to be incorrect.

WesternZagros’ operations are subject to all the risks normally incident to the exploration, development and operation of crude oil and natural gas properties and the drillingof crude oil and natural gas wells, including encountering unexpected formations or pressures, premature declines of reservoirs, potential environmental damage, blow-outs,fires and spills, all of which could result in personal injuries, loss of life and damage to property of WesternZagros and others, environmental risks; delays or changes in planswith respect to exploration or development projects or capital expenditures; the ability to attract and retain key personnel; the risk of commodity price and foreign exchangerate fluctuations.

All of WesternZagros’ assets are located in Kurdistan. As such, WesternZagros is subject to political, economic, and other uncertainties, including, but not limited to, theuncertainty of negotiating with foreign governments, expropriation of property without fair compensation, adverse determinations or rulings by governmental authorities,changes in energy policies or the personnel administering them, nationalization, currency fluctuations and devaluations, disputes between various levels of authorities,arbitrating and enforcing claims against entities that may claim sovereignty, authorities claiming jurisdiction, potential implementation of exchange controls, royalty andgovernment take increases and other risks arising out of foreign governmental sovereignty over the areas in which WesternZagros’ operations are conducted, as well as risksof loss due to civil strife, acts of war, guerrilla activities and insurrections. WesternZagros’ operations may be adversely affected by changes in government policies andlegislation or social instability and other factors which are not within the control of WesternZagros including, among other things, adverse legislation in Iraq and/or theKurdistan Region, a change in crude oil or natural gas pricing policy, the risks of war, terrorism, abduction, expropriation, nationalization, renegotiation or nullification ofexisting concessions and contracts, taxation policies, economic sanctions, the imposition of specific drilling obligations and the development and abandonment of fields.

The ability of WesternZagros to successfully carry out its business plan beyond exploration is primarily dependent on the continued support of its shareholders, the discoveryof economically recoverable reserves, its joint venture partner’s continued participation in the exploration activities under the PSC, and the ability of the Corporation toobtain financing to develop reserves. WesternZagros’ cash balance may not be sufficient to fund its ongoing activities at all times and carry the KRG’s 20 per cent interestunder the PSC. From time to time, WesternZagros may require additional financing in order to carry out its oil and gas acquisition, exploration and development activities.Failure to obtain such financing on a timely basis could cause WesternZagros to forfeit its interest in certain properties, miss certain acquisition opportunities and reduce orterminate its operations. It is possible that future global economic events and conditions may result in further volatility in the financial markets which, in turn, couldnegatively impact WesternZagros’ ability to access equity or debt markets in the future.

Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors should not place undue reliance on these forward-lookingstatements. For a full discussion of the risk factors, please refer to the Annual Information Form on the Company’s web site.

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Our Objective

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To be recognized, through consistently superior business performance and operations excellence, as one of the leading junior oil and gas companies active in Iraq.

4 Sarqala-1

Qulijan-1

Understanding the Region’s Oil & Gas Fields

B’A A’ B

Composite Seismic Section (SW to NE)

Kurdamir-1 and Qulijan-1 Location

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Razyana

Zhala

Tilako

Shana

Qabri

Qula

Smaqa_S

Khala_S

Hasan_Albian

Alyan_Albian

Zardi

Baran

Alyan

Yarmand

Smaqa_N

Tukin

Wurela

Qula_W

Namiq

Hasan

Chwar

Khala_N

0 6 123 Kilometers

Legend

4-way

3-way

2-way

Sarqala Deep

Mansur

Sarhad

Confidential

Kurdamir-1Current Driller

(Tertiary gas/condensate)

A

A’B’

B

• Structural style

similar to existing

giant fields in Iraq

and Iran

Horizon Legend

Ground Elevation

Upper Fars

Lower Fars Evaporite

Base Fars Detachment

Lower Fars Transition Beds

Oligocene

Aaliji

Shiranish

Kurdamir: The Potential Reward

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Block K44

Block K39

?

Block K38

Kurdamir-1

30 km2

155 km2

Kurdamir-1 Well Control Operations

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Kurdamir-1 Well Control Operations

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9

Kurdamir-1 Well Control Operations

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Kurdamir-1 Well Control Operations

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Kurdamir-1 Well Control Operations

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Kurdamir-1 Well Control Operations

Photo of Kurdamir-1 Rig Condition

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Kurdamir-1 Village

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Financial Impact

As of May 28, 2010 Gross Net

Estimated Kurdamir-1 Costs

Total expenditure $88 to $90 M $53 to $54 M

Well control and sidetrack expenses only $33 to $35 M $20 to $21 M

Insurance Policy and Estimated Claim

Insurance policy limit $75 M $45 M

Insurance claim (net of $1 million deductible)

$32 to $34 M $19 to $20 M

The total gross expenditures for Kurdamir-1 excludes further costs for both sidetracking beyond 3,214 metres or cased hole testing. Any further sidetracking expenditures will increase both the total expenditure and the amount claimed under the insurance policy.

The lead insurer has now approved the insurance claim.

Financial Position (As at March 31, 2010, US$ millions)

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The anticipated costs of Kurdamir-1 include well control operations, but exclude any costs for continuing to sidetrack beyond 3,214m and future cased-hole testing activities.

Due to the nature of oil and gas exploration, budgets are regularly reviewed and are subject to change. Upon successful completion of well control activities at Kurdamir-1, WesternZagros will update the 2010 budget to include future activities at Kurdamir-1 and at the third exploration commitment well.

Working Capital PositionWithout Insurance

With Insurance

Cash $55.1 $55.1

Non-Cash Working Capital (1.9) (1.9)

Insurance Claim - 10.0

Working Capital $53.2 $63.2

Remaining 2010 Capital and Operating Budget

Without Insurance

With Insurance

Kurdamir-1 $11 $ -

Advance Planning of Third Well 6 6

Geoscience and Field Office 4 4

G&A and Business Development 4 4

Total $25 $14

Operational priorities

Complete well control activities

Prepare to drill third exploration commitment well – Qulijan-1 (formerly Sarhad)

Resume drilling at Kurdamir-1

Evaluate Kurdamir-1 gas and condensate discoveries

Evaluate exploring the flanks of the Kurdamirstructure

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WesternZagros: Positioned for Success

Large exploration area in an active region

Multiple prospects with multiple reservoir targets

Hydrocarbons already discovered

Strong technical team with extensive experience

Experienced international industry partner

Financed to meet key commitments

Excellent opportunity to create substantial shareholder value

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Block K39

Block K38

Kurdamir-1

www.westernzagros.com

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