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2014-04-16

SHAMARAN ANNOUNCES ATRUSH-4 WELL TESTS RESULTS

ARAN ANNOUNCES ATRUSH-4 WELL TESTS RESULTS

April 16, 2014 (TSXV-SNM, OMX First North-SNM)… ShaMaran Petroleum Corp.
("ShaMaran" or the "Corporation") is pleased to report the results of the
Atrush-4 appraisal/development well (“AT-4”) drilled in the Kurdistan Region of
Iraq.

The AT-4 well was spudded on October 20, 2013 using the DQE31 drilling rig and
reached Total Depth of 2916m MD on January 23, 2014. The well was deviated well
from the AT-1 well pad with the bottomhole location approximately 2.2 km SE of
the surface location.

Three separate cased hole drill stem tests were conducted in the Jurassic
reservoir with maximum rates totalling 9059 bopd of 27-28 API from two of the
tests. None of the tests produced formation water. Downhole samples for PVT
analysis and surface samples for oil assay studies were taken. Well testing
operations were completed on April 7, 2014. AT-4 has been suspended as a Phase
1 producer. The drilling rig is now moving to drill the Chiya Khere-5
development well (“CK-5”; 2014 revised well nomenclature) which is expected to
spud in May 2014.

The Atrush Block is operated by TAQA Atrush B.V., a subsidiary of Abu Dhabi
National Energy Company PJSC which holds a 39.9% working interest in the Block.
ShaMaran Petroleum Corp. holds a 20.1% working interest through its wholly
owned subsidiary, ShaMaran Ventures BV (100% owner of General Exploration
Partners, Inc.). Marathon Oil KDV B.V., a wholly owned subsidiary of Marathon
Oil Corporation (NYSE: MRO), holds a 15% working interest in the block.
Subsequent to their back-in the Government of the Kurdistan Region of Iraq
holds a 25% working interest.

About ShaMaran

ShaMaran Petroleum Corp. is a Kurdistan focused oil development and exploration
vehicle. ShaMaran Petroleum is a Canadian oil and gas company listed on the TSX
Venture Exchange under the symbol "SNM" as well as NASDAQ OMX First North under
the symbol "SNM".

On behalf of the Board,

Pradeep Kabra, President and CEO

This press release contains statements 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. Actual results may differ materially from those projected by management.
Further, any forward-looking information is made only as of a certain date and
the Company undertakes no obligation to update any forward-looking information
or statements 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.Test results are not necessarily indicative of
long-term performance or of ultimate recovery.

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.

ShaMaran Petroleum's Certified Advisor on NASDAQ OMX First North is Pareto
Securities AB.

FOR FURTHER INFORMATION PLEASE CONTACT:

ShaMaran Petroleum Corp.
Keith Hill
Chairman
(604) 806-3583
khill@namdo.com

Or
ShaMaran Petroleum Corp.
Pradeep Kabra
President and CEO
0041 22 560 8605
pradeep.kabra@shamaranpetroleum.com

Or
ShaMaran Petroleum Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
sophias@namdo.com
www.shamaranpetroleum.com

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