ShaMaran President and CEO Dr. Adel chaouch said, “In what continues to be a year of transformation for the company and its stakeholders, we are pleased to reduce ShaMaran’s leverage on our business with this scheduled bond repayment. A further significant reduction in this leverage remains a key objective for us and we look forward to the planned completion of the TEPKRI acquisition scheduled for 2022 as the next step in ShaMaran’s growth story. “
This information is information that ShaMaran 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, on December 10, 2021 at 5:30 p.m. EST. Pareto Securities AB is the Company’s Authorized Advisor on the Nasdaq First North Growth Market (Stockholm), +46 8402 5000, [email 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 company specializing in petroleum development and exploration which holds a 27.6% interest, through its wholly owned subsidiary General Exploration Partners, Inc., in the Atrush block and as announced in the press release of the Society of July 12, 2021 in the event of the successful closing of the acquisition from a subsidiary of TotalEnergies, will then also hold an 18% stake through its then 100% -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”.
1 ShaMaran 12% senior unsecured bond due 2023 (ISIN: NO 001082645.6)
SOURCE ShaMaran Petroleum Corp.
For more information: ShaMaran Investor Relations: [email protected]; Sophia Shane, Business Development, Canada, +1 604 806 3575, [email protected]; Robert Eriksson, Investor Relations, Sweden, +46 701 112615