ShaMaran Petroleum

ShaMaran Petroleum Corp. is a Canadian independent oil and gas exploration and production company. The company is listed on the TSX Venture Exchange in Toronto and the Nasdaq First North Growth Market in Stockholm under ticker symbol "SNM". The Company is part of the Lundin Group, a group of independent publicly-traded natural resource companies that all share the Lundin family as a major shareholder.

Overview
The Company is headquartered in Vancouver, British Columbia, Canada and is focused on the Kurdistan region in Iraq. ShaMaran has non-operated working interests in two adjacent oil blocks in Kurdistan.

ShaMaran has a 27.6 percent interest in the Atrush Block production sharing contract. The Atrush field was first discovered in 2011, and oil production started in 2017. Gross production in 2022 averaged 35,885 barrels of oil per day. The block is operated by TAQA, a publicly-listed company in Abu Dhabi, United Arab Emirates.

ShaMaran also has an 18 percent interest in the Sarsang Block production sharing contract. The Sarsang fields were first discovered in 2011, and oil production started in 2014. Gross production in 2022 averaged 33,816 barrels of oil per day, with a Q4 2022 average production rate of 43,394 barrels of oil per day. The block is operated by HKN Energy Ltd., a private company based in Dallas, Texas, United States of America.