VANCOUVER, BC, July 9, 2021 /CNW/ - ShaMaran Petroleum
Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First
North Growth Market: SNM) refers to the Company's news release
dated June 4, 2021 that announced the
TD of the Atrush CK-17 production well ("CK-17") and is
pleased to make the following update that CK-17 has been delivered
under budget during Q2 2021, has been bought on-line on
June 11, 2021 and has been producing
at approximately 2,000 bopd to increase Atrush gross production
rate to be in excess of 44,000 bopd. View PDF version
Atrush drilling and completion operations, suspended in 2020 due
to the COVID-19 pandemic, resumed in Q2 2021 with the spudding of
the CK-17 from Pad A on April 1,
2021. The CK-17, targeting reserves in the Western
flank of the Atrush structure, brings the total number of producing
Pad A wells to three and the total Atrush production well count to
eleven.
ShaMaran President and Chief Executive Officer Dr. Adel Chaouch said, "With CK-17 now online,
Atrush continues to demonstrate a return to consistent quarter-on
quarter production growth this year. This growth will be
sustained by the resumption of previously suspended drilling and
completion activities in the future."
OTHER
The information was submitted for publication, through the
agency of the contact persons set out below, on July 9, 2021 at 11:00 a.m.
Eastern Time. Pareto Securities AB is the Company's
Certified Advisor on Nasdaq First North Growth Market, +4684025000,
certifiedadviser.se@paretosec.com.
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.
FORWARD LOOKING STATEMENTS
This news release contains statements and information
about expected or anticipated future events and financial results
that are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties, such as legal and political risk,
civil unrest, general economic, market and business conditions, the
regulatory process and actions, technical issues, new legislation,
competitive and general economic factors and conditions, the
uncertainties resulting from potential delays or changes in plans,
the occurrence of unexpected events and management's capacity to
execute and implement its future plans. Any statements that are
contained in this news release that are not statements of
historical fact may be deemed to be forward-looking information.
Forward-looking information typically contains statements with
words such as "may", "will", "should", "expect", "intend", "plan",
"anticipate", "believe", "estimate", "projects", "potential",
"scheduled", "forecast", "outlook", "budget" or the negative of
those terms or similar words suggesting future outcomes. The
Company cautions readers regarding the reliance placed by them on
forward–looking information as by its nature, it is
based on current expectations regarding future events that involve
a number of assumptions, inherent risks and uncertainties, which
could cause actual results to differ materially from those
anticipated by the Company.
Actual results may differ materially from those projected by
management. Further, any forward-looking information herein is made
only as of the date of this news release, and the Company
undertakes no obligation to update any forward-looking information
to reflect events or circumstances after the date on which such
statement is made or reflect the occurrence of unanticipated
events, except as may be required by applicable securities laws.
New factors emerge from time to time, and it is not possible for
management of the Company to predict all of these factors and to
assess in advance the impact of each such factor on the Company's
business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking information.
ABOUT SHAMARAN
ShaMaran Petroleum Corp. is a Kurdistan focused oil development and
exploration company which holds a 27.6% working interest, through
its wholly-owned subsidiary General Exploration Partners, Inc., in
the Atrush Block.
ShaMaran is a Canadian oil and gas company listed on the TSX
Venture Exchange and the Nasdaq First North Growth Market
(Stockholm) under the symbol
"SNM".
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SOURCE ShaMaran Petroleum Corp.