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ShaMaran Announces an Increase in Contingent Resources

By: MT Newswires
Posted: 2/4/2013 10:43:00 AM
Referenced Stocks:

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.