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2017-09-20

SHAMARAN: ATRUSH DEVELOPMENT UPDATE – SPUD OF CK7

ShaMaran Petroleum Corp
Pressmeddelande

SHAMARAN: ATRUSH DEVELOPMENT UPDATE – SPUD OF CK7

September 19, 2017 (Vancouver, BC)... ShaMaran Petroleum Corp. ("ShaMaran" or
the "Company") (TSXV, Nasdaq First North: SNM) is pleased to announce that
drilling operations have commenced on the Chiya Khere (“CK-7”) appraisal and
development well in the Atrush Block in the Kurdistan Region of Iraq. CK-7 is
located in the central area of the Atrush Block approximately 3 kilometres east
of the Atrush 2 producing well and 3.5 kilometres west of the Atrush 3
appraisal well.

The main objectives of the well are to appraise the commercial potential of the
Mus formation, to help reduce the uncertainty in the location of the medium to
heavy oil transition zone and to serve as a further producing well.

The well will be drilled with the Romfor 25 drilling rig and is expected to
take approximately 52 days. Planned total vertical depth for the well is
approximately 1,575 metres.

OTHER

This 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. Toronto time on September 19,
2017.

ABOUT SHAMARAN

ShaMaran Petroleum Corp. is a Kurdistan focused oil development and exploration
company with a 20.1% direct interest in the Atrush oil discovery. The Atrush
Block is currently undergoing an appraisal and development campaign.

ShaMaran is a Canadian oil and gas company listed on the TSX Venture Exchange
and the NASDAQ First North Exchange (Stockholm) under the symbol "SNM". 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. Pareto Securities AB is the Company’s
Certified Advisor on NASDAQ First North.

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 forward?looking 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 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Chris Bruijnzeels
President and CEO
ShaMaran Petroleum Corp.
+41 22 560 8605
chris.bruijnzeels@shamaranpetroleum.com

Sophia Shane
Corporate Development
ShaMaran Petroleum Corp.
+1 604 689 7842
sophias@namdo.com
www.shamaranpetroleum.com

Robert Eriksson
Investor Relations, Sweden
ShaMaran Petroleum Corp.
+46 701 112615
reriksson@rive6.ch

Författare Nasdaq Stockholm

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