ShaMaran Petroleum Corp: SHAMARAN: ATRUSH REPORTS PAYMENT FOR ATRUSH DELIVERIES

ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSX VENTURE: SNM) (OMX:
SNM) reports that TAQA Atrush BV has received USD 7.7 million on behalf of the
Atrush co-venturers from the Kurdistan Regional Government ("KRG") as payment
towards October 2017 crude oil deliveries to the export market from the Atrush
license which were invoiced at USD 7.1 million and USD 0.6 million related to
the unpaid portion of the September payment. 

The Atrush co-venturers reached an agreement with the KRG as to the payments in
respect of amounts invoiced to the KRG for the Atrush Feeder Pipeline Cost and
Atrush Development Cost loans and for the KRG's working interest share of
payables. The November and December 2017 Atrush Feeder Pipeline Cost and Atrush
Development Cost loan repayments will be offset against payments due to the KRG
for first oil bonus and certain costs related to the Oil Police Force which
provides security at the Atrush field. The January 2018 and subsequent invoices
will be paid in line with the current practice for crude oil sales payments.
The January 2018 invoice is therefore expected to be paid in April 2018. 

Working interest share of payables invoices will be paid after the Atrush
co-venturers have approved and paid such costs and in the month those costs are
expected to occur. The November 2017 invoice is expected to be paid in February
2018. 

Chris Bruijnzeels, President and CEO of ShaMaran, commented, "I am pleased that
we now have clarity with the KRG on how our loan invoices will be treated." 

OTHER

This is information that ShaMaran Petroleum Corp. is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was submitted for
publication, by the persons below at 2:30 p.m. Vancouver Time on January 22,
2018. 

ABOUT SHAMARAN

ShaMaran Petroleum Corp. is a Kurdistan focused oil development and exploration
company with a 20.1% direct interest in the Atrush oil discovery. The Atrush
Block is currently undergoing an appraisal and development campaign. 

ShaMaran is a Canadian oil and gas company listed on the TSX Venture Exchange
and the NASDAQ First North Exchange (Stockholm) under the symbol "SNM". Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Pareto Securities AB is the Company's
Certified Advisor on NASDAQ First North. 

FORWARD LOOKING STATEMENTS

This news  release contains statements and information about expected or
anticipated future events and financial results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as legal and political risk, civil unrest, general economic, market and
business conditions, the regulatory process and actions, technical issues, new
legislation, competitive and general economic factors and conditions, the
uncertainties resulting from potential delays or changes in plans, the
occurrence of unexpected events and management's capacity to execute and
implement its future plans. Any statements that are contained in this news
release that are not statements of historical fact may be deemed to be
forward-looking information. Forward-looking information typically contains
statements with words such as "may", "will", "should", "expect", "intend",
"plan", "anticipate", "believe", "estimate", "projects", "potential",
"scheduled", "forecast", "outlook", "budget" or the negative of those terms or
similar words suggesting future outcomes. The Company cautions readers
regarding the reliance placed by them on forward-looking information as by its
nature, it is based on current expectations regarding future events that
involve a number of assumptions, inherent risks and uncertainties, which could
cause actual results to differ materially from those anticipated by the
Company. 

Actual results may differ materially from those projected by management.
Further, any forward-looking information is made only as of a certain date and
the Company undertakes no obligation to update any forward-looking information
or statements to reflect events or circumstances after the date on which such
statement is made or reflect the occurrence of unanticipated events, except as
may be required by applicable securities laws. New factors emerge from time to
time, and it is not possible for management of the Company to predict all of
these factors and to assess in advance the impact of each such factor on the
Company's business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those contained in
any forward-looking information. 

         FOR FURTHER INFORMATION PLEASE CONTACT:
         
         Chris Bruijnzeels
         President and CEO
         ShaMaran Petroleum Corp.
         [phone]
         [e-mail]
         
         Sophia Shane
         Corporate Development
         ShaMaran Petroleum Corp.
         [phone]
         [e-mail]
         www.shamaranpetroleum.com
         
         Robert Eriksson
         Investor Relations, Sweden
         ShaMaran Petroleum Corp.
         [phone]
         [e-mail]

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