ShaMaran Petroleum : January 8, 2020ShaMaran Atrush Oil Sales Payment Received VIEW

VANCOUVER, Jan. 8, 2020/CNW/ - ShaMaran Petroleum Corp. ('ShaMaran' or the 'Company') (TSX VENTURE: SNM) (NASDAQ FIRST NORTH GROWTH MARKET: SNM) confirms that a gross payment of $20.8 million($7.7 millionnet to ShaMaran) has been received from the Kurdistan Regional Government for Atrush crude oil sales during August 2019. View PDF version.

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This information is information that ShaMaran Petroleum is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on January 8, 2020at 11:15 a.m. Eastern Time. Pareto Securities AB is the Company's Certified Advisor on Nasdaq First North Growth Market, [phone], [e-mail].

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.

ABOUT SHAMARAN

ShaMaran Petroleum Corp. is a Kurdistanfocused 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.

ShaMaran Petroleum Corp., Investor Relations, [e-mail]; Robert Eriksson, Investor Relations, Sweden, [phone]; Sophia Shane, Corporate Development, Canada, [phone], [e-mail]