ShaMaran Closes US $150 Million Senior Secured Bond Issue

ShaMaran Closes US $150 Million Senior Secured Bond Issue 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/13/13 -- ShaMaran
Petroleum Corp. ("ShaMaran" or the "Corporation") (TSX
VENTURE:SNM)(OMX:SNM) is pleased to report that the USD $150 million
senior secured bond issue previously announced on October 28, 2013
has closed. The bond has a five year maturity without amortization
and carries an 11.5% fixed semi-annual coupon.  
The Company anticipates that the proceeds of the USD $150 million
bond issue will enable it to finance development activities to
achieve first production. Future development phases of the Atrush
field are expected to be financed using cash flows from the sale of
oil production from the Atrush Block.  
The Atrush Block is operated by TAQA Atrush B.V., a subsidiary of Abu
Dhabi National Energy Company PJSC, which holds a 39.9% working
interest in the Atrush Block. ShaMaran Petroleum Corp. holds a 20.1%
working interest through its wholly owned subsidiary, General
Exploration Partners, Inc. Marathon Oil KDV B.V., a wholly owned
subsidiary of Marathon Oil Corporation (NYSE:MRO), holds a 15%
interest in the block. Subsequent to their back-in, the Government of
the Kurdistan Region of Iraq holds a 25% working interest. 
Pareto Securities AS was the manager and bookrunner for the bond
placement.  
About ShaMaran  
ShaMaran Petroleum Corp. is a Kurdistan focused oil development and
exploration vehicle. ShaMaran Petroleum is a Canadian oil and gas
company listed on the TSX Venture Exchange under the symbol "SNM" as
well as NASDAQ OMX First North under the symbol "SNM". 
Forward-Looking Statements 
This press release contains statements 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. 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. 
On behalf of the Board, 
Pradeep Kabra, President and CEO 
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. 
ShaMaran Petroleum's Certified Advisor on NASDAQ OMX First North is
Pareto Securities AB.
Contacts:
ShaMaran Petroleum Corp.
Keith Hill
Chairman
(604) 806-3583
khill@namdo.com 
ShaMaran Petroleum Corp.
Pradeep Kabra
President and CEO
0041 22 560 8605
pradeep.kabra@shamaranpetroleum.com 
ShaMaran Petroleum Corp.
Sophia Shane
Corporate Development
(604) 689-7842
(604) 689-4250 (FAX)
sophias@namdo.com
www.shamaranpetroleum.com