Transformative Acquisition of TotalEnergies’ Affiliate with an 18% Interest in Sarsang PSC and New Financings
VANCOUVER, BC, July 12, 2021 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (SNM: TSXV and Nasdaq First North Growth Market (Sweden)) is pleased to announce that it has signed an agreement with a subsidiary of TotalEnergies S.E. (“TotalEnergies”) to acquire its affiliate (TEPKRI Sarsang A/S) holding an 18% non-operated participating interest in the Sarsang Production Sharing Contract (the “Sarsang PSC”) in the Kurdistan Region of Iraq (the “Acquisition”) for an initial consideration of USD 155 million plus working capital adjustments amounting to USD 14.2 million as of