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VANCOUVER, BRITISH COLUMBIA – ShaMaran Petroleum Corp. (“ShaMaran” or the “Company”) (SNM: TSXV and Nasdaq First North Growth Market (Sweden)) confirms receipt of payment for the July 2022 Atrush crude oil sales invoice in the amount of $13.59 million net to the Company.

OTHER

This information contains information that ShaMaran is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact persons set out below, on November 18, 2022 at 5:30 p.m. Eastern Time.  Arctic Securities AS (Swedish branch) is the Company’s Certified Adviser on Nasdaq First North Growth Market (Sweden) +46 844 68 61 00, certifiedadviser@arctic.com.

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.

ABOUT SHAMARAN

ShaMaran is a Kurdistan focused oil development and exploration company which holds a 27.6% interest, through its wholly-owned subsidiary General Exploration Partners, Inc., in the Atrush Block and also holds an 18% interest, through its wholly-owned subsidiary ShaMaran Sarsang A/S, in the Sarsang Block.

ShaMaran is a Canadian oil and gas company listed on the TSX Venture Exchange and the Nasdaq First North Growth Market (Sweden) under the symbol "SNM" and is part of the “Lundin Group of Companies”.

FOR FURTHER INFORMATION PLEASE CONTACT:

Renmark Financial Communications Inc.
Steve Hosein
+1 (416) 644-2020 or +1 (212) 812-7680
shosein@renmarkfinancial.com

Sophia Shane
Corporate Development, Canada
+1 604 806 3575
sophias@namdo.com

Robert Eriksson
Investor Relations, Sweden
+46 701 112615

ShaMaran Investor Relations
Investor.Relations@shamaranpetroleum.com

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Group Total Market Cap

* July 2022 - Lundin Energy acquired by BP Aker