ShaMaran Reports Second Quarter 2026 Results

HAMILTON, Bermuda, Aug. 5, 2026 /PRNewswire/ -- ShaMaran Petroleum Ltd. ("ShaMaran" or the "Company") (Euronext Growth Oslo: SNM) (Nasdaq First North Stockholm: SNM) today released its financial and operating results and related management's discussion and analysis ("MD&A") for the three and six months ended June 30, 2026. PDF Version

Garrett Soden, President and CEO of ShaMaran, commented: "During the second quarter, ShaMaran completed the corporate continuance from Canada to Bermuda and the change of our primary listing from Toronto to Oslo. Unfortunately, the Iran war continues to have a major impact on Kurdistan oil production with international oil companies mostly shut-in since March 2026. However, the formation of the new Iraqi government and Prime Minister Ali al-Zaidi's commitment to resolve regional security issues has been a positive development for the region. The closure of the Strait of Hormuz highlights the importance of Iraq's northern export route through Kurdistan, with Iraq and Türkiye recently signing a one-year extension to the Iraq-Türkiye pipeline agreement. We remain focused on ensuring the safety of personnel, reducing operating expenditures and non-critical activities while maintaining readiness to restart production when the security situation allows. In the meantime, we are working with the Iraqi State Organization for Marketing of Oil and the Iraqi Ministry of Oil to receive the top-up payments due for our full entitlement of oil export sales now that the international consultant's review is complete."