ShaMaran Update on Atrush CK-17 Production Well

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

ShaMaran Update on Atrush CK-17 Production Well

Canada NewsWire

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,  [email protected].

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 forwardlooking 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".

Follow us on Social Media:
Instagram: @shamaranpetroleumcorp
Twitter:  @shamaran_corp
Facebook: @shamaranpetroleumcorp

ShaMaran Update on Atrush CK-17 Production Well (CNW Group/ShaMaran Petroleum Corp.)

SOURCE ShaMaran Petroleum Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/09/c8892.html

Copyright CNW Group 2021

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).