ShaMaran Announces Investor Town Hall Meeting in Stockholm

ShaMaran details major Iraq oil interests and M&A plans ahead of November results.

What the company is saying

ShaMaran Petroleum Ltd. is inviting investors to a town hall in Stockholm on November 11, 2026, where management will update on corporate and operational developments. The company highlights its 50% working interest in the Atrush Block and 18% in the Sarsang Block, both in the Kurdistan Region of Iraq, and a forthcoming 25% interest in a joint venture to redevelop the Hamrin field in Federal Iraq. The announcement emphasizes the proposed combination with Gulf Keystone Petroleum Ltd., which remains subject to required approvals, and signals ongoing refinancing of corporate bonds. Representatives from Gulf Keystone Petroleum Ltd. will participate, underlining the seriousness of the combination discussions. ShaMaran also confirms it will release financial and operating results for the three and nine months ended September 30, 2026, after market close on November 9, 2026. The company’s tone is factual and forward-looking, focusing on project interests and strategic transactions rather than current financial performance.

What the data suggests

ShaMaran currently holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block, both producing assets in Iraq’s Kurdistan Region. The company will also hold a 25% interest in a joint venture to redevelop the Hamrin field in Federal Iraq, indicating a planned expansion of its asset base. The combination with Gulf Keystone Petroleum Ltd. is not yet completed and is contingent on required approvals, so no immediate operational or financial impact is realized. No production volumes, reserves, or financial results are disclosed in this announcement, but the company commits to releasing detailed financial and operating results for the three and nine months ended September 30, 2026, on November 9, 2026. The only quantified figures are the working interests: 50%, 18%, and 25%. The company is listed on Euronext Growth Oslo and Nasdaq First North Stockholm, and is part of the Lundin Group of Companies. The data provided is sufficient to confirm asset exposure but does not enable assessment of financial trajectory or operational performance.

Analysis

The announcement is primarily an event notice for an investor town hall, with factual disclosures about the company's current working interests in the Atrush and Sarsang Blocks and a future interest in the Hamrin field. While it references forward-looking items such as the proposed combination with Gulf Keystone Petroleum Ltd. and a future joint venture, these are presented as pending or subject to approvals, not as completed milestones. No exaggerated or promotional language is used; the tone is informative and logistical. There are no claims of immediate financial or operational benefits, and no financial or operational performance data is disclosed in this release. The announcement does not overstate progress or inflate expectations, and the gap between narrative and evidence is minimal. The capital intensity flag is not triggered, as no large capital outlay is announced in this notice.

Risk flags

• ●The proposed combination with Gulf Keystone Petroleum Ltd. is subject to required approvals, introducing regulatory and execution risk that could delay or prevent the transaction.
• ●The 25% interest in the Hamrin field joint venture is a future holding, so operational and financial benefits are contingent on successful project execution and may be subject to delays or changes in terms.
• ●No current financial, production, or reserve data is disclosed in this announcement, limiting the ability to assess the company's present financial health or operational performance until the results are released on November 9, 2026.

Bottom line

ShaMaran is positioning itself as a significant non-operator in Iraq, with material interests in the Atrush and Sarsang Blocks and plans to expand into the Hamrin field through a 25% joint venture stake. The company is also pursuing a merger with Gulf Keystone Petroleum Ltd., but this remains subject to approvals and is not yet finalized. No operational or financial performance data is provided in this announcement, so investors will need to wait for the November 9, 2026, results release for a clearer picture of current performance. The near-term catalysts are the financial results and the investor town hall, while the combination and Hamrin field redevelopment represent longer-term, higher-risk opportunities. The most important takeaway is that ShaMaran's asset base and strategic direction are expanding, but execution and regulatory risks remain before these translate into realized value.

Announcement summary

(NASDAQ:SNMSDB) ShaMaran Petroleum Ltd. announced it will hold an investor town hall meeting in Stockholm, Sweden on Wednesday, November 11, 2026, at 18:00 CET. The meeting will be held at Westmanska Palatset, Holländargatan 17, Stockholm. The Company's management will provide updates on recent corporate and operational developments, including ShaMaran's investment in the Hamrin field in Federal Iraq, the refinancing of its corporate bonds, and the proposed combination with Gulf Keystone Petroleum Ltd. ("GKP"). Representatives of GKP's management will also participate in the meeting. Presentation slides will be made available on the Company's website. Attendees are required to register in advance by emailing Robert Eriksson at reriksson@rive6.ch. ShaMaran will release its financial and operating results and related Management's Discussion and Analysis for the three and nine months ended September 30, 2026, after market close on Monday, November 9, 2026. ShaMaran holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block, both located in the Kurdistan Region of Iraq. The Company will also hold a 25% interest in a joint venture to redevelop the Hamrin field in Federal Iraq. The proposed combination with Gulf Keystone Petroleum Ltd. is subject to required approvals. ShaMaran is listed in Oslo on Euronext Growth and in Stockholm on Nasdaq First North (ticker "SNM"). The Company is part of the Lundin Group of Companies. The Company's certified advisor on Nasdaq First North Growth Market is FNCA Sweden AB.

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