Additional information related to above noted reserve and resource estimates, including net present value estimates, is included in Form 51-101F1, which may be viewed under the Company's profile on SEDAR at www.sedar.com, or in the Company's Annual Information Form, which is available both on SEDAR at www.sedar.com and on the Company's web-site at www.shamaranpetroleum.com.
Pradeep Kabra (pictured), President and CEO of ShaMaran commented:
"We are pleased to report the initial recognition of reserves relating to ShaMaran's interest the Atrush field, and the progress being made towards achieving 'First Oil' at Atrush in early 2015.
"At this early stage of appraisal, the majority of contingent and prospective resources are still to be assigned as reserves and we look forward to continuing the appraisal and development work in 2014 to achieve the full potential of the field."
The Atrush Block is operated by the Abu Dhabi National Energy Company PJSC ("TAQA") and is held 39.9% by TAQA, ShaMaran Petroleum Corp, through its wholly owned subsidiary General Exploration Partners, Inc. ("GEP") 20.1%, 15% Marathon Oil KDV B.V., (a wholly owned subsidiary of Marathon Oil Corporation (NYSE:MRO)), and 25% by the KRG. Atrush reserves and resource estimates presented represent solely the view of ShaMaran and its experts.
(Source: Shamaran)
Dear All /first of all congratulation for ShaMaran for this achievement as a result of challenge spirit to explore crude oil and hope when we will know the time for beginning CRUDE OIL PROCESSING CPF suppose to be announce after drilling and processing before exporting
My name is GEORGE IBRAHEEM YOKHANA /Iraq Branch Manager for Samsung engineering company in Baghdad and my e-mail is :[email protected]