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ShaMaran Announces Payment for Atrush Oil Deliveries
ShaMaran Announces Payment for Atrush Oil Deliveries Canada NewsWire VANCOUVER, ...
About this update from Shamaran Petroleum Corp.
[{"type":"text","content":"\n\n\n\nShaMaran Announces Payment for Atrush Oil Deliveries\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 12, 2018\n\n\n\n\n \n \n \n \n VANCOUVER, Sept. 12, 2018 /CNW/ - ShaMaran Petroleum Corp. (\"ShaMaran\" or the\"Company\") (TSX VENTURE: SNM) (NasdaqStockholm First North: SNM) reports that TAQA Atrush BV, Operator of the Atrush Block, has received USD 20.6 million on behalf of the Atrush co-venturers from the Kurdistan Regional Government (\"KRG\")comprised of payments of USD 15.7 million for June 2018 crude oil deliveries from the Atrush license to the export market and of USD 4.9 million of the Atrush Feeder Pipeline Cost and Atrush Development Cost loan repayments which were due in September 2018. These funds will be shared between the Atrush co-venturers according to the terms of the agreements. View PDF Version.\nAs the KRG has delivered regular payments for oil sales for approximately three years the Company will cease to announce its monthly receipt of payments. ShaMaran will, in its quarterly financial and operating results, continue to provide information on cash receipts.\nOTHER\nThis is information that ShaMaran Petroleum Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by the persons below at 5:30 p.m. EDT on September 12, 2018.\nABOUT SHAMARAN\nShaMaran Petroleum Corp. is a Kurdistan focused oil development and exploration company with a 20.1% direct interest in the Atrush oil discovery. As announced in ShaMaran's June 4, 2018 news release, the Company has signed an agreement with Marathon Oil KDV B.V. to acquire its 15% interest in the Atrush Block. The Atrush Block is currently undergoing an appraisal and development campaign. Production from Atrush commenced in July 2017.  \nShaMaran is a Canadian oil and gas company listed on the TSX Venture Exchange and the NASDAQ Stockholm First North Exchange (Sweden) under the symbol \"SNM\". Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defi...