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SHAMARAN DECEMBER 2021 PAYMENTS RECEIVED AND CORPORATE UPDATE
SHAMARAN DECEMBER 2021 PAYMENTS RECEIVED AND CORPORATE UPDATE Canada NewsWire ...
About this update from Shamaran Petroleum Corp.
[{"type":"text","content":"\n \n \n \n SHAMARAN DECEMBER 2021 PAYMENTS RECEIVED AND CORPORATE UPDATE\n \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 Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 31, 2022\n \n \n /CNW/ -\n \n ShaMaran Petroleum Corp. (\"ShaMaran\" or the \"Company\")\n \n (TSXV: SNM) (NASDAQ First North Growth Market (\n \n Sweden\n \n ): SNM) confirms receipt of payment for the\n \n December 2021\n \n Atrush sales and entitlements at\n \n $29.38 million\n \n (\n \n $10.81 million\n \n net to the Company).\n \n View PDF\n \n \n \n The Company is also in receipt of $2.19 million net to the Company as the next instalment for December 2021 in the Kurdistan Regional Government (\"KRG\") receivable repayment mechanism calculated based on the KRG's proposed amendment to the mechanism repayment terms as announced on May 13, 2021.  Today's payment, together with a set-off of the Company's share of the bonus payable to the KRG for the Atrush field's achievement of 50 mmbo cumulative oil production, reduces the KRG's outstanding receivable amount owed to the Company to $10.26 million.\n \n \n In addition, ShaMaran announces that its Board of Directors has granted 15,750,000 incentive stock options (\"Options\") to its officers, employees and certain eligible persons of the Company under the terms of the Company's Incentive Stock Option Plan. Each Option is exercisable into one common share of the Company at the exercise price of\n \n CAD 0.10\n \n and, subject to certain vesting provisions, will expire in five years.\n \n \n \n OTHER\n \n \n \n This information contains information that ShaMaran is obliged to make public pursuant to the EU Market Abuse Regulation.  This information was submitted for publication, through the agency of the contact persons set out below, on\n \n March 31, 2022\n \n at\n \n 5:30 p.m. Eastern Time\n \n .  Arctic Securities AS (Swedish branch) is the Company's Certified Adviser on Nasdaq First North Growth Market (\n \n Sweden\n \n ) +46 844 68 61 00,\n \n certifiedadviser@arctic....