ShaMaran Petroleum Provides Update on Atrush Operations in KRI

ShaMaran Petroleum Corp. (“ShaMaran” or the “Company”) (TSXV: SNM) (Nasdaq First North Growth Market (Sweden): SNM) announces this Atrush operations update:

Drilling operations have commenced on the CK-18 production well in the Atrush Block in the Kurdistan Region of Iraq. This well will be a Lower Jurassic deviated production well drilled to the south-west from the Chamanke G Pad and located to the north of wells CK-15 and CK-8. CK-18 is forecast to produce up to 2,000 barrels of oil per day.

Workover operations have also commenced on CK-17 ST-1 production well in the Atrush Block in the Kurdistan Region of Iraq. CK-17 ST-1 is a side-tracked deviated well drilled from the Chamanke A Pad and penetrating the Upper Jurassic between the CK-5 and CK-8 wells. The main objectives of this workover will be to re-complete the well in the Upper Jurassic and to add perforations for stimulation to increase forecasted production up to 5,000 barrels of fluids per day.

Also, drilling operations have recently concluded on CK-16, a water disposal well, drilled from the Chamanke G Pad and designed to provide redundancy to the existing Atrush water disposal well, CK-9.

Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran stated, “These drilling campaigns are consistent with the joint venture’s plans to establish a new production plateau for the Atrush Field.”