SHAMARAN PETROLEUM CORP. ("SNM")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: October 7, 2022
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a Purchase and Sale Agreement dated July 12, 2021 between the Company and an arm's length Vendor (the "Agreement"). Pursuant to the terms of the Agreement, the Company paid USD$155 in cash and will pay up to USD$15 million contingent consideration if certain conditions are met. The principal asset of the Vendor consists of an 18% non-operated participating interest in the Sarsang Production Sharing Contract for the Sarsang block located in Northern Kurdistan. The transaction is arm's length and no finder's fees are payable in connection with the acquisition.
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