VANCOUVER, July 19, 2018 /CNW/ - ShaMaran Petroleum
Corp. ("ShaMaran" or the "Company") (TSX VENTURE:
SNM) (Nasdaq Stockholm First North: SNM) reports that TAQA
Atrush BV, Operator of the Atrush Block, has received USD 13.7 million on behalf of the Atrush
co-venturers from the Kurdistan Regional Government comprised of
payments of USD 8.9 million for
April 2018 crude oil deliveries from
the Atrush license to the export market and of USD 4.9 million of the Atrush Feeder Pipeline
Cost and Atrush Development Cost loan repayments which were due in
July 2018. These funds will be shared between the Atrush
co-venturers according to the terms of the agreements. View PDF
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OTHER
This is information that ShaMaran Petroleum Corp. is obliged to
make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication by the persons below at
5:30 p.m. Eastern Time on
July 19, 2018.
ABOUT SHAMARAN
ShaMaran Petroleum Corp. is a Kurdistan focused oil development and
exploration company with a 20.1% direct interest in the Atrush oil
discovery. As announced in ShaMaran's June
4, 2018 news release, the Company has signed an agreement
with Marathon Oil KDV B.V. to acquire its 15% interest in the
Atrush Block. The Atrush Block is currently undergoing an appraisal
and development campaign. Production from Atrush commenced in
July 2017.
ShaMaran is a Canadian oil and gas company listed on the TSX
Venture Exchange and the NASDAQ Stockholm First North Exchange
(Sweden) under the symbol "SNM".
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. Pareto Securities AB is the Company's
Certified Advisor on NASDAQ Stockholm First North.
FORWARD LOOKING STATEMENTS
This news release contains statements and
information about expected or anticipated future events and
financial results that are forward-looking in nature and, as a
result, are subject to certain risks and uncertainties, such as
legal and political risk, civil unrest, general economic, market
and business conditions, the regulatory process and actions,
technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential
delays or changes in plans, the occurrence of unexpected events and
management's capacity to execute and implement its future plans.
Any statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
information. Forward-looking information typically contains
statements with words such as "may", "will", "should", "expect",
"intend", "plan", "anticipate", "believe", "estimate", "projects",
"potential", "scheduled", "forecast", "outlook", "budget" or the
negative of those terms or similar words suggesting future
outcomes. The Company cautions readers regarding the reliance
placed by them on forward‐looking information as by its nature, it
is based on current expectations regarding future events that
involve a number of assumptions, inherent risks and uncertainties,
which could cause actual results to differ materially from those
anticipated by the Company.
Actual results may differ materially from those projected by
management. Further, any forward-looking information is made only
as of a certain date and the Company undertakes no obligation to
update any forward-looking information or statements to reflect
events or circumstances after the date on which such statement is
made or reflect the occurrence of unanticipated events, except as
may be required by applicable securities laws. New factors emerge
from time to time, and it is not possible for management of the
Company to predict all of these factors and to assess in advance
the impact of each such factor on the Company's business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking information.
SOURCE ShaMaran Petroleum Corp.