VANCOUVER, BC, March 27,
2023 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran"
or the "Company") (TSXV: SNM) (Nasdaq First North Growth
Market: SNM) confirms that, following the recent announcement of
the ICC arbitration ruling in favor of Iraq against Turkey on the use of the Iraq-Turkey
export pipeline, the Kurdistan Pipeline Company, at the request of
Turkey officials, has shutdown the
Kurdistan trunk export pipeline.
View PDF version
ShaMaran has been informed by the operators of the two blocks in
which we hold an interest that appropriate steps on operations and
oil production are underway. ShaMaran also notes that discussions
between officials of Iraq,
Turkey and Kurdistan Region are
underway in order to re-commence oil exports via the Iraq-Turkey
pipeline as soon as arrangements can be mutually agreed.
The Company will remain in close contact with the other oil
producers in the Kurdistan Region and with relevant government
officials and will continue to monitor this situation
closely.
OTHER
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 March
27, 2023, at 2:00 a.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,
certifiedadviser@arctic.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 also holds an 18%
interest (22.5% paying interest), through its wholly-owned
subsidiary ShaMaran 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".
Follow us on Social Media:
Instagram:
@shamaranpetroleumcorp
Twitter: @shamaran_corp
Facebook: @shamaranpetroleumcorp
SOURCE ShaMaran Petroleum Corp.