Shamaran trader completes lifting of first oil cargo

Executive Summary

• Shamaran Petroleum Corp. successfully completed the first lifting of crude oil export barrels allocated to international oil companies (IOCs) as payment in kind at the Ceyhan oil terminal in Turkey on November 15, 2025.
• The company expects to receive payment for its share of these cargo liftings within 30 days under the interim pipeline export agreements.
• A second lifting of IOC-allocated barrels, covering production and pipeline exports from September and October 2025, is scheduled for the end of the current month, with further liftings and payments expected to follow.

Key Details

• First Cargo Lifting: Completed on November 15, 2025, at the Ceyhan oil terminal in Turkey.
• Transaction Type: Payment in kind under interim pipeline export agreements, involving crude oil export barrels allocated to international oil companies (IOCs).
• Payment Terms: Shamaran expects payment for its share of cargo liftings within 30 days of the lifting.
• Upcoming Schedule: A second lifting of IOC-allocated barrels related to production and pipeline exports during September and October 2025 is scheduled for the end of the current month.
• Financial Reporting: Shamaran plans to publish its financial statements for the year ending December 31, 2025, on March 4, 2026.
• Company Profile: Shamaran is a Canadian independent oil and gas company focused on the Kurdistan region of Iraq, holding a 50% working interest in the Atrush block and an 18% working interest in the Sarsang block. It is listed on the TSX Venture Exchange and Nasdaq First North Growth Market (ticker: SNM).