VANCOUVER, BC, April 6, 2021 /CNW/ - ShaMaran Petroleum
Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North
Growth Market: SNM) is pleased to report in connection with the
Company's 12% senior unsecured bonds due 2023 (ISIN: NO
001082645.6) (the "Bonds") that the Company has purchased Bonds in
the market at commercially attractive rates. As a result,
Bonds in the principal amount of $4.95
million have been retired. The Company's Bond
amortization payment due in December
2021 has accordingly been reduced by 33%. View PDF
version.
Dr. Adel Chaouch, President and
Chief Executive Officer of ShaMaran commented: "We are very pleased
that, as a result of continued sustained production in the Atrush
field and the first quarter 2021 increase in oil prices, the
Company has been able to utilize its free cash to make purchases in
the market as permitted by the January
2021 amendment to our Bond terms. ShaMaran is
committed to reducing its debt obligations and looks forward to
making another positive report to the market at the end of the next
quarter."
OTHER
This information is information that ShaMaran Petroleum Corp. is
obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency
of the contact persons set out below, at 5:30 p.m. Eastern Time on April 6, 2021. Pareto Securities AB is the
Company's Certified Advisor on Nasdaq First North Growth Market,
+46 84 02 5000, certifiedadviser.se@paretosec.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.
ABOUT SHAMARAN
ShaMaran is a Kurdistan focused
oil development and exploration company which holds a 27.6% working
interest in the Atrush Block through its wholly-owned subsidiary,
General Exploration Partners, Inc.
ShaMaran is a Canadian oil and gas company listed on the TSX
Venture Exchange and the Nasdaq First North Growth Market
(Stockholm) under the symbol "SNM"
and is part of the "Lundin Group of Companies".
Follow us on Social Media:
Instagram: @shamaranpetroleumcorp
Twitter: @shamaran_corp
Facebook: @shamaranpetroleumcorp
SOURCE ShaMaran Petroleum Corp.