VANCOUVER, BC, May 15, 2023
/CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the
"Company") (TSXV: SNM) (Nasdaq First North Growth Market
(Sweden): SNM) ShaMaran Petroleum
Corp (ShaMaran) is pleased to announce the appointment today of
Garrett Soden as President and Chief
Executive Officer (CEO) to replace Dr. Adel
Chaouch effective immediately. Mr. Soden will also join
ShaMaran's board of directors. View PDF version
Garrett Soden has extensive
experience as a senior executive and board member of various public
companies in the natural resources sector. He is currently
President and CEO of Africa Energy Corp. and has a long history
with the Lundin Group of companies. Mr. Soden is also a
Non-Executive Director of Gulf Keystone Petroleum Ltd. and Panoro
Energy ASA. He will remain President and CEO of Africa Energy Corp.
for a transition period.
Dr. Chaouch has elected to step down as President and CEO of
ShaMaran to focus on other endeavors as of May 15, 2023. He will not seek reelection
to the Board of Directors.
Chris Bruijnzeels, Chairman of the Board of ShaMaran, commented:
"The board and I are pleased to welcome Garrett Soden as President and CEO. Garrett has
the necessary experience to continue to grow ShaMaran, and we look
forward to working with him. I would like to thank Dr. Chaouch for
his instrumental role in the successful strategic transformation of
the company and specifically for the successful acquisition of
TotalEnergies' interest in Sarsang."
ShaMaran has granted incentive stock options to Mr. Soden to
acquire 20,000,000 shares of the Company at an exercise price of
CAD$0.065 per share. The options will
have a five-year term and vest fully after two years.
OTHER
ShaMaran is obliged to make this information public pursuant to
the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact persons set out
below, on May 15, 2023 at
10:15 a.m. Eastern Time. Arctic
Securities AS (Swedish branch) is the Company's Certified Advisor
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% working
interest, through its wholly-owned subsidiary General Exploration
Partners, Inc., in the Atrush Block and an 18% interest (22.5%
paying 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".
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SOURCE ShaMaran Petroleum Corp.