VANCOUVER, BC, July 27, 2021 /CNW/ - ShaMaran Petroleum
Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq
First North Growth Market: SNM) confirms receipt of payment for the
May 2021 Atrush sales and
entitlements at $31 million
($11.4 million net to the
Company). View PDF version
The Company is also in receipt of $0.91
million adjusted net to the Company as the next instalment
for May 2021 in the Kurdistan
Regional Government ("KRG") receivable repayment mechanism
calculated based on the KRG's proposed amendment to the mechanism
repayment terms as announced on May 13,
2021. Today's payment reduces the KRG's outstanding
receivable amount owed to the Company to $32.05 million. The Company continues to be
in dialogue with the KRG on its amendment proposal.
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
July 27, 2021 at 5:30 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 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.