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-ShaMaran Petroleum Corp signs final binding agreement with Kurdistan Regional Government.

International Resource News-January 19, 2012--ShaMaran Petroleum Corp signs final binding agreement with Kurdistan Regional Government(C)1994-2012 ENPublishing -

International Resource News - 19 January 2012

ShaMaran Petroleum Corp (TSX VENTURE:SNM)(OMX:SNM), a Kurdistan-focused oil development and exploration vehicle with two ongoing projects in the region, has signed a final binding agreement with the Kurdistan Regional Government.

The contract has been signed to relinquish to the KRG the 60 percent working interests currently held in each of the Arbat and Pulkhana Production Sharing Contracts.

According to terms of the contract, the Production Sharing Contracts for each of the Pulkhana and Arbat blocks is withdrawn, whereby ShaMaran's interests in both PSCs are relinquished.

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Publication:International Resource News (IRN)
Date:Jan 19, 2012
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