VANCOUVER, BC, Oct. 4, 2022
/CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the
"Company") (TSXV: SNM) (Nasdaq First North Growth Market
(Sweden): SNM) confirms that the
Sarsang operator, on behalf of itself and the Company's
wholly-owned subsidiary, ShaMaran Sarsang A/S, has signed an
amendment to the Sarsang Block Lifting Agreement with the Kurdistan
Regional Government regarding the sale and purchase of all crude
oil production from Sarsang Block. This amendment became
effective retroactively to September 1,
2022. The primary effect of the new Lifting Agreement
is to change the reference price for Sarsang crude oil sales
payments from Dated Brent to KBT (Kurdistan Blend) in order to
reflect current market conditions for oil sales at Ceyhan, together with the necessary
adjustments for crude quality due to the crude benchmark change.
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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
October 4, 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, firstname.lastname@example.org.
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 also holds an 18% interest, through its
wholly-owned subsidiary ShaMaran Sarsang A/S, in the Sarsang
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.