Mr. Chris Bruijnzeels reports

SHAMARAN ANNOUNCES PAYMENT FOR ATRUSH OIL DELIVERIES

TAQA Atrush BV, operator of the Atrush block, has received $34.4-million (U.S.) on behalf of the Atrush co-venturers, including Shamaran Petroleum Corp., from the Kurdistan regional government, composed of payments of $15.0-million (U.S.) for February, 2018, crude oil deliveries from the Atrush licence to the export market and of $19.4-million (U.S.) of the Atrush feeder pipeline cost and Atrush development cost loan repayments. The latter constitutes payments for four months, which were due in the months February to May, 2018. These funds will be shared between the Atrush co-venturers according to the terms of the agreements.

About Shamaran Petroleum Corp.

Shamaran Petroleum is a Kurdistan-focused oil development and exploration company with a 20.1-per-cent direct interest in the Atrush oil discovery. The Atrush block is currently undergoing an appraisal and development campaign. Production from Atrush commenced in July, 2017.

We seek Safe Harbor.