Oil Exploration and Development in Iraqi-Kurdistan

ShaMaran Petroleum Corp. is a Canadian independent oil development and exploration company with a 20.1% direct interest in the Atrush Block production sharing contract. The Atrush Block is located in the Kurdistan region of northern Iraq.

Phase 1 of the Field Development Plan for the Atrush Block has been completed with first oil achieved in July, 2017. Production is expected to ramp up to the facilities design capacity of 30,000 barrels of oil equivalent per day. Further phases of development will be defined based on production data, appraisal information and economic circumstances.

ShaMaran is listed on the TSX Venture Exchange and the Nasdaq First North Exchange (Stockholm) under the symbol “SNM”.