Dr. Adel chaouch, President and CEO of ShaMaran said, âWe are very pleased that due to the sustained and continued production in the Atrush field and the increase in oil prices in the first quarter of 2021, the Company was able to use its available cash to make purchases on the market as permitted by January 2021 modification of our conditions of obligations. ShaMaran is committed to reducing its debt and looks forward to reporting another positive report to the market at the end of the next quarter. “
This information is information that ShaMaran Petroleum Corp. is obliged to make public in accordance with the EU Market Abuse Regulation. The information has been submitted for publication, through the contact persons indicated below, at 5:30 p.m. EST to April 6, 2021. Pareto Securities AB is the Company’s Certified Advisor on the Nasdaq First North Growth market, +46 84 02 5000, [emailÂ protected].
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 A company specializing in petroleum development and exploration that holds a direct 27.6% interest in the Atrush block through its wholly owned subsidiary, General Exploration Partners, Inc.
ShaMaran is a Canadian oil and gas company listed on the TSX Venture Exchange and the Nasdaq First North Growth Market (Stockholm) under the symbol “SNM” and is part of the “Lundin Group of Companies”.
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For more information: ShaMaran Petroleum Corp., Investor Relations, [emailÂ protected], www.shamaranpetroleum.com; Sophia Shane, Investor Relations, Canada +1 604 689 7842; Robert Eriksson, Investor Relations, Sweden +46 701 112615