Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented "This significant operational achievement is noteworthy as the production milestone has been achieved notwithstanding 2020's significantly reduced development program due to the global pandemic and collapse of world crude oil prices.  This demonstrates that the Atrush joint venture has the ability to successfully navigate through the Kurdistan oil industry's difficult as well as good times."

OTHER

This information is information that ShaMaran is obliged to make 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 September 14, 2021 at 1:15 p.m. Eastern Time.  Pareto Securities AB is the Company's Certified Advisor on Nasdaq First North Growth Market (Stockholm), +46 8402 5000, certifiedadviser.se@paretosec.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.

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