ShaMaran Achieves 40 Million Barrels Atrush Oil Production and January Interest Payment Timely Paid In Full

VANCOUVER, BC, Jan. 5, 2021 /CNW/ – ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM ) (Nasdaq First North Growth Market: SNM) is pleased to announce that the January 2021 interest payment due on its 12% senior unsecured bonds due 2023 (ISIN: NO 001082645.6) has been timely made to all Bondholders. View PDF version View PDF ShaMaran Achieves 40 Million Barrels Atrush Oil Production and January Interest Payment Timely Paid In Full (CNW Group/ShaMaran Petroleum Corp.) In addition, ShaMaran is also pleased to announce that the Atrush field total cumulative crude oil production has exceeded 40 million barrels. The Atrush field is located 85 km northwest of Erbil and is one of the largest new oil developments in the Kurdistan Region of Iraq. The field was first discovered in 2011 and oil production started in July 2017. In its fourth year of production, the Atrush field has sold all its production to the Kurdistan Regional Government of Iraq at international market prices less a discount based on quality and transportation charges. ShaMaran President and Chief Executive Officer Dr. Adel Chaouch said, "Following a challenging 2020 for the oil industry in Kurdistan, ShaMaran is pleased to start off 2021 […]

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