ShaMaran Petroleum Corp. - Oil Exploration and Development in Iraqi-Kurdistan

ShaMaran Announces First Day of Trading on Euronext Growth Oslo and Publication of Information Document

https://stockhouse.com/companies/quote?symbol=shasf | 1 hour ago

HAMILTON, Bermuda, June 5, 2026 /CNW/ - ShaMaran Petroleum Ltd. ("ShaMaran" or the "Company") refers to the previous announcements regarding the admission to trading of the Company's shares on Euronext Growth Oslo (the "Listing"). https://edge.prnewswire.com/c/link/?t=0&l=en&o=47046…

The Company has prepared an information document solely for the purpose of the Listing. The information document is attached to this announcement and will also be made available on the Company's website (https://edge.prnewswire.com/c/link/?t=0&l=en&o=47046…

The first day of trading in the Company's shares on Euronext Growth Oslo will be today, 5 June 2026.

Pareto Securities is acting as Euronext Growth Advisor in connection with the Listing. Advokatfirmaet Thommessen AS is acting as Norwegian legal advisor to the Company in connection with the Listing.

About ShaMaran Petroleum Ltd.

ShaMaran is an independent oil and gas company focused on the Kurdistan region of Iraq. The Company indirectly holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block. ShaMaran is part of the Lundin Group of Companies.

https://shamaranpetroleum.com/site/assets/files/5599/shamara…

https://shamaranpetroleum.com/site/assets/files/5599/simplif…

The move of ShaMaran's headquarters from Canada to Bermuda is generally good news for dividend hunters. The short explanation is that Bermuda does not levy any withholding tax on dividends, which simplifies handling considerably compared to the Canadian withholding tax of 15% (or 25% if you don't have the right paperwork in place). Here's how it works specifically for your different account types at Avanza:

Investment savings account (ISK) Withholding tax: 0%. Since Bermuda does not deduct any tax, you receive the entire dividend amount directly into the account. Swedish tax: As usual, you only pay the annual standard tax for ISK. Advantage: You avoid the hassle of waiting for a settlement (deduction) for foreign tax in your tax return. You receive "net directly". 2. Endowment insurance (KF) Withholding tax: 0%. Just like for ISK, no foreign tax is deducted at source. Swedish tax: You pay the insurance's yield tax. Advantage: In a KF with foreign shares, Avanza usually handles the recovery of withholding tax, but it can take up to three years. With Bermuda as your domicile, there is no tax to be left out or to claim back - the money stays in the insurance directly. 3. Occupational pension Withholding tax: 0%. Swedish tax: Occupational pensions are taxed with a low annual yield tax (0.219% for 2026). Advantage: Pensions are often the worst accounts to have foreign shares in if withholding tax is deducted, as it can be more difficult to get a deduction for the foreign tax in the pension tax environment. ShaMaran becoming a "zero tax company" makes it significantly more suitable to have in an occupational pension. Summary of the situation Account Withholding tax (Bermuda) Handling ISK0% Simple, no deduction needed. KF0% Optimal, no waiting time for a tax refund. Occupational pension0% Much better than before (Canada times). Worth noting: ShaMaran also plans to change primary listing to Oslo (Euronext Growth) and is traded as Swedish depositary receipts (SDB) on First North in Stockholm. For you, this means in practical terms that the share will function more like a "regular" Swedish share in your flow, but with the big advantage that the Kurdish oil now flows tax-free all the way from Bermuda to your Avanza account.

ShaMaran has announced that it is pursuing a change of its primary listing from the TSX Venture Exchange to Euronext Growth Oslo. The company will retain its secondary listing in Stockholm, and it also plans to change its corporate domicile from Canada to Bermuda “to achieve a more efficient corporate structure.” While these initiatives do not affect the underlying business, we view the Oslo listing as a positive step. An Oslo listing is likely to increase analyst coverage and could attract a new group of investors. Although we doubt ShaMaran will become a core holding for Norwegian institutional investors, these institutions are generally more open to oil and gas exposure than their Swedish counterparts. Generally, we believe a broader sellside, and potentially buyside, following may have positive implications for both valuation and trading liquidity. As far as we know, an Oslo listing would also mark the first time a Lundin Group company is listed on the Oslo market.

GKP is bereits auf den Bahamas registriert und möchte ebenfalls in Oslo an der Börse gehandelt werden.

Hmm?

https://shamaranpetroleum.com/site/assets/files/5598/snm_cor…

https://www.westernzagros.com/wp-content/uploads/2025/12/202…

At the DNO event on Wednesday, the Kurdistan Regional Government’s (KRG) Acting Minister of Natural Resources, Kamal Mohammed, told Rudaw that “some 22 million barrels of [Kurdish] oil have been delivered to [the Iraqi State Oil Marketing Organization] SOMO” for export under the tripartite agreement. He added that “so far, nearly $214 million has been paid to [international oil] companies [IOCs] for oil production and transportation costs.” Under the September deal, an initial advance of $16 per barrel was set to cover extraction and transportation costs payable to the IOCs. The amount however is temporary and will remain in place until an independent expert firm provides a more accurate cost assessment, with the agreement specifying that payments are to be made in the form of crude oil at prevailing market prices rather than in cash. In early January, Ali Nizar, Director-General of SOMO, told Rudaw that the federal oil ministry “has signed a contract with the British consulting firm Wood Mackenzie, which will begin work in the near future to calculate the actual production costs at oil fields in the Kurdistan Region.” He added that “the tripartite agreement to resume guarantees continuity of the Kurdistan Region’s oil production and ensures that exports will not be halted again.”

ERBIL — A tanker carrying crude produced in the Kurdistan Region unloaded at the Louisiana Offshore Oil Port late last month, marking the first confirmed shipment of the Kurdish oil to the US since the reopening of the Iraq–Turkey Pipeline (ITP) two months ago.

The shipment — carried from Turkey’s Ceyhan port aboard the Seaways Brazos — was made possible by a US-brokered interim agreement in September that enabled Baghdad, the Kurdistan Regional Government (KRG), and international oil companies (IOCs) to restart exports after a more than two-year halt, according to a Washington Institute report.

Data from market intelligence firm Kpler shows that the Seaways Brazos loaded around one million barrels of Kurdistan Region crude in late October before sailing to the US Gulf Coast. Kpler and TankerTrackers expect additional tankers carrying Kurdish crude to arrive in the coming weeks.

https://www.basnews.com/en/babat/901005

.4 the Ministry of Defense will equip the field with air defense systems. Now the de-risking of the KRG begins.

https://twitter.com/IraqiPMO

Based on the orders of the Commander-in-Chief of the Armed Forces, Mr. Mohammed Shia' al-Sudani, and in light of the treacherous and cowardly attack on the Kor Mor oil field in Sulaymaniyah Governorate on November 26, 2025, the committee has begun...

https://shamaranpetroleum.com/site/assets/files/5595/snm_cor…

ShaMaran Announces First Oil Cargo Lifting from Ceyhan Terminal

Join the Discussion:

$SNM.V

VANCOUVER, BC, Nov. 17, 2025 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North: SNM) announces that the first lifting of crude oil export barrels allocated to international oil companies ("IOCs") as "payment-in-kind" under the interim pipeline export agreements was completed by the nominated trader at the Ceyhan oil terminal in Türkiye on November 15, 2025. https://edge.prnewswire.com/c/link/?t=0&l=en&o=45594…

Under the interim agreements, ShaMaran expects payment for its share of cargo liftings within 30 days. A second lifting of IOC-allocated barrels related to production and pipeline exports during September and October 2025 is scheduled at the end of this month, with further liftings and payments expected to follow.

ShaMaran plans to publish its financial statements for the year ending December 31, 2025, on March 4, 2026.

Antwort auf texas2 02.10.25 23:16:29 Uhr

#211.969

Mit der Pipelineöffnung mit Trumps Unterstützung besteht die Hoffnung, dass es nach diesen Zahlen bergauf geht ( sofern keine weitere negative Überraschung kommt). Folgend die AI Übersetzung und zusammenfassung der jetzt veröffentlichten Q3 Zahlen:

*ShaMaran Petroleum Corp. - Q3 2025 Ergebnisse*

ShaMaran Petroleum Corp. hat seine Ergebnisse für das dritte Quartal 2025 veröffentlicht. Hier sind die wichtigsten Punkte:

- *Umsatz:* 28,9 Millionen USD (2% weniger als im Vorjahr)

- *EbitdaX (Gewinn vor Zinsen, Steuern und Abschreibungen):* 16,4 Millionen USD (24% weniger als im Vorjahr)

- *Netto-Gewinn:* nicht explizit genannt, aber der Gewinn vor Steuern und Abschreibungen (EBITDAX) ist um 24% gesunken

- *Produktion:* 47,6 Mbopd (20% weniger als im Vorjahr), davon 29,4 Mbopd aus dem Atrush-Block und 18,2 Mbopd aus dem Sarsang-Block

- *Cash-Flow:* 4,8 Millionen USD (78% weniger als im Vorjahr)

Die Ergebnisse sind aufgrund eines Drohnenangriffs auf das Sarsang-Block im Juli 2025 negativ beeinflusst worden. Die Produktion wurde für sieben Tage unterbrochen, was zu einem Umsatzverlust führte.

Trotz der Herausforderungen hat ShaMaran seine Produktion im Atrush-Block um 10% gesteigert und plant, die Produktion im Sarsang-Block wieder auf das ursprüngliche Niveau zu bringen.

*Finanzielle Situation:*

- *Cash:* 54,7 Millionen USD

- *Schulden:* 143,8 Millionen USD

- *Nettoschulden:* 89,1 Millionen USD

ShaMaran hat seine Schulden um 10,6 Millionen USD reduziert und plant, seine finanzielle Situation weiter zu verbessern ¹.

Adaz—6:47 PM

For me, this agreement is primarily a political turning point. For over ten years, Baghdad has been trying to overturn Kurdistan's PSCs – via court decisions, threats of illegality and pressure on international companies. If they had succeeded, much of the upside would have disappeared for us shareholders. But this time they actually had to back down. Sure, Baghdad gained control of export revenues via SOMO, but they were also forced to accept a compromise: $16/barrel as an interim template and, above all, an independent international consultant to calculate reconciliation. This means that the PSC structure is not only alive, but will now even be reviewed and confirmed by an external party. Politically, this is a huge difference compared to what Baghdad has tried before. For the KRG, it is a victory. They can tell their population and investors that the PSCs are still valid. For Baghdad, it is a half retreat – they got their pipeline and SOMO, but they did not get the PSCs wiped out. And for the IOCs, this means that their position is strengthened: with an international reviewer, it will be much more difficult for Baghdad to try to reject the PSC logic in the next step. That is why I think we as shareholders should see this as very positive. Exports are back on track, the risk is lower, and politically the PSCs have been effectively secured. Reconciliation is the next step – and that is where the whole upside lies. I suspect that banks and larger players are waiting until they see in black and white what the consultant ends up with. That is why the share has not moved much yet. But once reconciliation is in place – then the repricing will come, and then things can move quickly.

Key details:

Under the new terms, the KRG's natural resources ministry has committed to deliver a minimum of 230,000 barrels per day (bpd) to Iraq’s State Oil Marketing Company (SOMO) for export. An additional 50,000 bpd will be used for domestic consumption in the Kurdistan Region.

SOMO is set to take title to the oil "from the Pishkhabour metering station to the Ceyhan export terminal," bearing all costs of transportation, storage and loading. However, it reserves the right to reject crude that does not meet quality standards.

The deal also establishes rigorous reporting standards to maintain transparency.

The total number of barrels will be measured when loaded onto tankers at Ceyhan and SOMO must report total monthly volumes to all parties within 10 business days after the end of each month.

Subsequently, the KRG’s natural resources ministry must then issue a final report to SOMO and the Iraqi finance ministry within another 10 business days, showing allocations for each oil field operator.

Furthermore, Erbil’s natural resources ministry has also signed individual lifting agreements with IOCs to manage their share of the oil. Any disputes raised by IOCs regarding the final report are to be resolved directly with the ministry without amendment of SOMO payments under the agreement.

Another key point for the IOCs in the agreement is the provisional in-kind compensation system

The agreement introduces a provisional in-kind compensation system, where oil companies are paid through Provisional Seller Barrels (PSBs) - crude shipments lifted at Ceyhan by marketers chosen by the KRG and IOCs.

The Region’s natural resources ministry is required to provide an estimated lifting schedule 25 days before each month starts. Any quantity differences will be reconciled against future allocations.

Moreover, compensation will be limited to PSBs until an assessment is finalized by the advisory firm Wood Mackenzie.

Until a final review is done by Wood Mackenzie, compensation remains at a temporary rate of $16 per barrel - as set by an amendment to Iraq’s 2023-2025 federal budget law in February.

Once the firm completes its assessment, SOMO must adjust the payment rate retroactively.

Additional payments based on this final assessment will also be made in-kind within three months, and any deductions must follow a mechanism agreed upon by all parties.

Outstanding debts:

As for outstanding debts, the agreement "excludes provisions for the up to $1 billion in receivables owed to the IOCs" from past exports. However, the eight signatory IOCs agreed to "meet within 30 days ... to work toward creating a separate mechanism" to address the outstanding arrears.

https://www.rudaw.net/english/kurdistan/290920251

https://x.com/RedboxWire/status/1972955705218044158?t=EI-k1I…

Jetzt glaube ich es auch, dass endlich wieder kurdisches nordirakisches Öl über die türkische Pipeline fliesst. Manche im Nahen Osten brauchen eben ein wenig länger bis sie verstehen dass manchmal nur eine win-win-win Situation weiter hilft.

https://x.com/apikur_oil/status/1971855338895720901?s=46&…

ShaMaran Announces Agreements to Restart Oil Exports via Iraq-Türkiye Pipeline

VANCOUVER, BC, Sept. 25, 2025/CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North: SNM) announces that interim agreements have been executed between the Kurdistan Regional Government, Government of Iraq and several International Oil Companies ("IOCs"), including ShaMaran. These agreements are expected to enable the restart of international oil exports by pipeline from the Kurdistan Region of Iraq ("KRI") within a matter of days.

Garrett Soden, President and CEO of ShaMaran, commented: "We welcome the resumption of oil exports from the Kurdistan region and thank our operating partner, HKN Energy, for leading the negotiations. Pipeline exports are critical for the future stability and prosperity of both the Kurdistan region and federal Iraq. We believe these agreements will benefit all Iraqis and allow IOCs to continue investing in the region while receiving the contractual value of the oil produced."

The agreements to resume oil exports from the KRI are based on the Iraqi Budget Law amendment in February 2025 and Iraq's recognition of the KRI Production Sharing Contracts ("PSCs"). The Budget Law provides for an initial period of approximately three months during which IOCs will be compensated at US$16 per barrel for the cost of production and transportation, resulting in similar economics to the current KRI local oil sales, with a reconciliation to full PSC entitlement following a review of the IOC invoices and contractual entitlements by an industry consultant. The Iraqi State Organization for Marketing of Oil ("SOMO") will market the KRI crude at the Kirkuk blend official selling price, and IOCs will be paid in arrears from the sale of their allocation at Ceyhan via their nominated trader. The agreements also provide that the IOCs and KRG will continue discussions about recovering outstanding accounts receivable from past oil sales.

Production at the Sarsang Block has returned to full capacity nearly one month ahead of schedule. The Atrush Block is currently producing approximately 35,000 barrels of oil per day ("bopd"), and the Sarsang Block is producing over 30,000 bopd.

About ShaMaran Petroleum Corp.

ShaMaran is a Canadian independent oil and gas company focused on the Kurdistan region of Iraq. The Company indirectly holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block. The Company is listed in Toronto on the TSX Venture Exchange and in Stockholm on Nasdaq First North Growth Market (ticker "SNM"). ShaMaran is part of the Lundin Group of Companies.

Important Info

The Ministry of Natural Resources of the Kurdistan Regional Government has stated that it is awaiting authorisation from the federal Ministry of Oil to resume oil exports from the Kurdistan Region.

In a statement obtained by PUKMEDIA, the Ministry said: “In accordance with the recommendations and decisions issued by the Council of Ministers, the Ministry of Natural Resources has fulfilled all its obligations to restart oil exports from the Kurdistan Region, working in cooperation with the federal Ministry of Oil.”

The statement added: “All foreign and local oil companies have signed the agreement, with the exception of one company (DNO?). This will not affect the terms of the tripartite agreement between our ministry, the oil companies, and the federal Ministry of Oil.”

It further explained: “The approval of our ministry and the oil companies to resume exports was formally submitted to the federal Ministry of Oil on 23 September 2025. We are now awaiting the Ministry’s response so that the State Oil Marketing Organisation (SOMO) can begin exporting oil from the Kurdistan Region promptly and implement the remaining provisions of the agreement.”

https://www.reuters.com/business/energy/dispute-over-arrears…

nachdem im Morgenland die Sonne früher aufgeht, haben die am Vormittag nix unterschrieben:

A tripartite agreement between the Kurdistan Regional Government (KRG) Ministry of Natural Resources, the Iraqi Ministry of Oil, and oil companies on oil exports is scheduled to be signed today. Channel8 was the first media outlet in the Kurdistan Region and Iraq to reveal this

wir werden sehen obs nächste Woche klappt

https://www.reuters.com/business/energy/iraq-nears-deal-rest…

Im Grunde sollten doch alle ein großes Interesse an einer solchen Vereinbarung haben. Insofern bin ich optimistisch