2022 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran"
or the "Company") (TSXV: SNM) (Nasdaq First
North Growth Market (Sweden): SNM)
confirms receipt of payment for the February
2022 Atrush sales and entitlements at
$31.69 million ($11.66 million net to the Company). View PDF
The Company is also in receipt of $3.88 million net to
the Company as the next instalment for February 2022 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 $3.12 million.
This information contains information that
ShaMaran is obliged to make public pursuant to the EU Market Abuse
Regulation. This information was submitted for publication, through
the agency of the contact persons set out below, on May 31, 2022 at 5:30 p.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,
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.
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.