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Iraqi-Kurdistan

Oil and Gas Production

Quality, Growth, Cash Flow

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Oil Exploration & Development

Focusing on Growth

ShaMaran Petroleum Corp. is a Canadian independent oil development and exploration company with a 27.6% direct interest in the Atrush Block production sharing contract. The Atrush Block is located in the Kurdistan region of northern Iraq.

Key Assets

Atrush Block

Atrush field gross average daily production in 2020 is expected to range from 44,000 bopd to 50,000 bopd. ShaMaran is generating cash flow that can fund organic growth and the Company is now strongly positioned to act on new accretive opportunities as they present themselves. As a Lundin Group Company, ShaMaran can leverage the expertise and strength of a family that has been building resource companies around the world for more than 40 years.

Atrush field gross average daily production is expected to range from 44,000 bopd to 50,000 bopd. Final 2020 production will depend principally on well, facility and export pipeline uptimes. Atrush average lifting costs are estimated to range from $5.50 per barrel to $6.70 per barrel.  Atrush gross capital expenditures for 2020 are estimated at $131 million ($36 million net to ShaMaran) for facility improvements and operating efficiencies.  The deployment of additional installed well capacity in 2020 will optimize currently underutilized productive facilities and harvest cash flows for future development plans. Plans include commencing construction of a gas solution at PF-1 which will sweeten gas for displacement of current diesel use in the facilities and will significantly reduce and ultimately eliminate gas flaring in the block, an important step forward in environmentally responsible development.

Stock Information

ShaMaran Petroleum Corp. is listed on the TSX Venture Exchange and the Nasdaq First North Growth Market under the symbol "SNM"

Nasdaq: SNM ShaMaran Petroleum Corp
0.21 kr
-0.01 (-2.96%)
Pareto Securities AB is the Company's Certified Advisor on Nasdaq First North Growth Market, +46 8 402 5000, certifiedadviser.se@paretosec.com

ShaMaran Petroleum at a Glance

Acquired further 7.5% interest in Atrush. Highly value-accretive transaction

Atrush Asset provides large production base with significant growth potential

Consistent production supporting stable and predictable cash flow

New Management with focus on growth

Best in class Kurdistan D&D performance.

A Lundin Group company with strong shareholder support

Atrush 2020 guidance 44,000 to 50,000 bopd

Gross company 2P reserves 29.9 million barrels

Atrush average lifting costs estimated at $5.50 to $6.70 per barrel in 2020

Total oil exported since commissioning in 2017 reached 25 million barrels in February 2020.

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