NEWS-ShaMaran Petroleum to Apply for Listing on NaShaMaran Petroleum to Apply for Listing on Nasdaq First North, Stockholm
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2011) -
ShaMaran Petroleum Corp. ("ShaMaran" or "the Company") (TSX VENTURE:SNM) is pleased to announce that it intends to apply for a secondary listing of its Common Shares on the First North list of the Nasdaq OMX Stock Exchange.
E. Ohman J:or Fondkommission AB has been engaged as the Company's financial advisor in connection with the secondary listing. Trading on First North is subject to a number of conditions including affiliation of the Company's shares to Euroclear Sweden, sufficient shareholder distribution in Sweden and distribution of a Company Description. The Company expects to have the listing completed by the end of June.
Mr. Pradeep Kabra, President and CEO, commented, "We are very excited about the opportunity to trade on First North. We look forward to welcoming many new shareholders when trading commences. A listing on First North will complement our existing listing on the TSX Venture Exchange in Canada and add liquidity and depth of distribution."
ShaMaran Petroleum Corp. is a Kurdistan focused oil development and exploration vehicle. Its initial four projects in the region are the Pulkhana development/appraisal block, the Arbat and K42 exploration blocks as well as the newly acquired Atrush block. These projects are nearby and on trend with existing fields and recent discoveries. Kurdistan lies within the northern extension of the Zagros Folded Belt. The area is highly underexplored and is currently undergoing a significant exploration and development campaign by over 30 mid to large size international oil companies. ShaMaran Petroleum is a Canadian oil and gas company listed on the TSX Venture Exchange under the symbol "SNM".