ShaMaran Corporate Update
VANCOUVER, BC, May 21, 2024 /CNW/ - ShaMaran Petroleum Corp. (“ShaMaran” or the “Company”) (TSXV: SNM) (Nasdaq First North: SNM) plans to meet with major bondholders in the Company’s outstanding 12% senior unsecured bond due July 2025 (ISIN NO 0011057622) (the “Bond”) in order to amend certain terms and extend the Bond’s final maturity by two years. As disclosed recently in the Company’s Q1 2024 results, ShaMaran’s cash flow has improved with increased production and sales to the local market in Kurdistan. The Company expects its stronger cash generation to continue and is seeking