Shamaran operator shuts in Atrush, Sarsang production

Executive Summary

• Shamaran Petroleum Corp. has been informed by operator HKN Energy Ltd. that production from the Atrush and Sarsang blocks in the Kurdistan region of Iraq has been temporarily shut in.
• The shutdown is a precautionary measure due to a deterioration in the regional security environment.
• Shamaran confirms that its assets and personnel have not been impacted by the event.

Key Details

• Operator: HKN Energy Ltd.
• Affected Assets: Atrush and Sarsang blocks in the Kurdistan region of Iraq.
• Action Taken: Temporary production shut-in from both fields.
• Reason: Precautionary measure due to deterioration in the regional security environment.
• Company Impact: Shamaran states that its assets and personnel have not been impacted.
• Company Interests: Shamaran holds a 50% working interest in the Atrush block and an 18% working interest in the Sarsang block.
• Next Steps: Shamaran and HKN are closely monitoring the situation and will provide further updates as appropriate.