VANCOUVER, BC, May 20, 2021
/CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the
"Company") (TSXV: SNM) (Nasdaq First North Growth Market
(Sweden): SNM) confirms receipt of
payment for the March 2021 Atrush
sales and entitlements at $27.2
million ($10 million net to
the Company). The Company is also in receipt of $655 thousand net to the Company that reflects an
offset in the Kurdistan Regional Government ("KRG") receivable
repayment mechanism. View PDF version
Noting the Company's press release of May
13, 2021, ShaMaran has commenced dialogue with
representatives of the KRG and other Kurdistan oil producers to reach an amicable
resolution to the terms of the latest KRG's receivable repayment
mechanism.
Today's offset reduces the KRG's outstanding receivable amount
owed to the Company to $34.1
million.
OTHER
This information is information that ShaMaran 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, on May
20, 2021 at 12:15 p.m. Eastern
Time. Pareto Securities AB is the Company's Certified
Advisor on Nasdaq First North Growth Market (Stockholm), +46 8402 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%
interest, through its wholly-owned subsidiary General Exploration
Partners, Inc., in the Atrush 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.