VANCOUVER, BC, July 27,
2022 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran"
or the "Company") (TSXV: SNM) (Nasdaq First North Growth Market
(Sweden): SNM) regrets to announce
the death of the Company's founder, Mr. Lukas H. Lundin, in Geneva, Switzerland on 26 July 2022 at the age of 64, following a
two-year battle with brain cancer. View PDF version
Over the past 40 years, Lukas
Lundin was the driving force behind the tremendous success
of the Lundin Group of Companies. Lukas started his career in the
international energy and mining sectors in the early 1980s working
side-by-side with his father, the late Adolf H. Lundin.
Under the leadership of Lukas and his brother Ian, and in close
cooperation with the rest of the Lundin family, the Lundin Group of
Companies has grown into an internationally recognized group of
energy and mining companies with operations around the globe,
employing more than 15,000 people and creating opportunities for
tens of thousands more.
The eleven companies that make up the Lundin Group of Companies
today have a combined market capitalization exceeding USD
$11 billion.
Lukas Lundin's sons Harry,
Adam, Jack and William said in a joint statement:
"Our father is our biggest inspiration. His passion for
the industries to which he devoted his life was unparalleled. Lukas
saw people as the key to success and spent decades building some of
the strongest management teams in our industries. He always
strived to empower those working with him and
continuously pushed us to aim higher. We could not have had a
better father and mentor.
"Our family is deeply saddened about Lukas' passing but takes
comfort in the knowledge that his legacy will live on for
generations to come. Having worked side-by-side with Lukas for many
years, all of us look forward to continuing to build on the
successes of the companies within the Lundin Group - with the
support of our shareholders and stakeholders, not least the members
of the local communities where we operate. The companies in the
Lundin Group stand stronger than ever and the Lundin family is
united in our commitment to remain long-term shareholders."
Dr. Adel Chaouch, President
and Chief Executive Officer of ShaMaran, commented, "I
would like to send my deepest condolences to the family of Lukas,
on behalf of our team, management and board, as we are all greatly
saddened by his passing. Lukas has been a keystone for all of
us through his experiences and guidance that he shared with us
since our inception and his presence will be missed.
ShaMaran's resilience and success are a tribute to Lukas'
unwavering support to the Company throughout the years. We
have lost a friend, but his legacy will continue through his four
sons."
Dr. Chaouch further added, "Lukas was a strong supporter of the
Company as it developed over the years. He was an
internationally recognized entrepreneur, financier and
philanthropist and equally known for his unique sense of adventure
and pioneering spirit - and there was no better place for adventure
in our industry than Kurdistan as
it rose, over the past two decades, from a frontier oil and gas
region to one of the key oil and gas producing provinces in the
world."
OTHER
This information was submitted for
publication, through the agency of the contact persons set out
below, on July 27, 2022 at
11:30 a.m. Eastern Time. Arctic
Securities AS (Swedish branch) is the Company's Certified Adviser
on Nasdaq First North Growth Market (Sweden) +46 844 68 61 00,
certifiedadviser@arctic.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
FORWARD-LOOKING STATEMENTS
This news release
contains "forward-looking statements" (within the meaning of
applicable securities laws). Such statements relate to future
events, including events relating to remain long-term shareholders
in the Company. Actual results may differ materially from those
expressed or implied by forward-looking statements. These
forward-looking statements speak only as of the date of this news
release. ShaMaran does not intend, and does not assume any
obligation, to update these forward-looking statements, except as
required by applicable securities laws
ABOUT SHAMARAN
ShaMaran is a Kurdistan focused oil development and
exploration company which holds a 27.6% interest, through its
wholly-owned subsidiary General Exploration Partners, Inc., in the
Atrush Block and as announced in the Company's news release of
July 12, 2021 upon successful closing
of the acquisition from a TotalEnergies' affiliate will then also
hold an 18% interest through its then wholly-owned subsidiary
TEPKRI Sarsang A/S in the Sarsang Block.
ShaMaran is a Canadian oil and gas company listed on the TSX
Venture Exchange and the Nasdaq First North Growth Market
(Sweden) under the symbol "SNM"
and is part of the "Lundin Group of Companies".
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SOURCE ShaMaran Petroleum Corp.