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Canada : ShaMaran Petroleum : corporate update.

ShaMaran Petroleum Corp. has provided the following corporate update, in addition to its News Release of March 31, 2016 in regards with a review by the Financial Supervisory Authority of Norway ('Finanstilsynet' or 'FSAN') of the financial reporting of General Exploration Partners, Inc. ('GEP'), a wholly owned subsidiary of the Company.

Now, the FSAN has informed the Company that, after its review of additional information provided by the Company, the FSAN will not proceed with issuing a correction order under the Norwegian Securities Trading Act and Regulations requiring GEP and the Company to restate certain published financial statement disclosures for the years ended December 31, 2014 and 2015.

Additionally, the FSAN have advised that in due course they will issue their final letter and comments.

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Publication:Mena Report
Date:Jun 17, 2016
Words:138
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