ShaMaran Announces an Increase in Contingent Resources

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shaMaran Petroleum Corp. (SNM.V) today provided an update of estimated contingent and prospective resources for the Atrush block provided by third party auditors McDaniel & Associates prepared as at December 31, 2012.

The changes in gross Contingent resources for the Atrush field by category between 2011 and 2012 are (MMBOE):

Low estimate Best estimate High estimate

1C 2C 3C Mean

2011 275.6 465.6 813.0 512.7

2012 404.6 627.3 981.6 668.5

% change +46% +35% +21% +30%

Shares are up 1.2% to 42 cents mid-morning. More than 908,000 shares have beent traded.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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