Mr. Elvis Pellumbi reports

SHAMARAN REPORTS TEMPORARY PRODUCTION SHUT-IN

Shamaran Petroleum Corp. has been informed that HKN Energy Ltd., the operator of the Atrush and Sarsang blocks in the Kurdistan region of Iraq, has temporarily shut in production from both fields as a precautionary measure due to the deterioration in the regional security environment. The company's assets and personnel have not been impacted.

Shamaran and HKN are closely monitoring the situation, and the company will provide further updates as appropriate.

About Shamaran Petroleum Corp.

Shamaran is a Canadian independent oil and gas company focused on the Kurdistan region of Iraq. The company indirectly holds a 50-per-cent working interest in the Atrush block and an 18-per-cent working interest in the Sarsang block. The company is listed in Toronto on the TSX Venture Exchange and in Stockholm on Nasdaq First North Growth Market (ticker: SNM). Shamaran is part of the Lundin Group of Companies.

We seek Safe Harbor.