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NEWS RELEASES

Information posted is accurate at the time of posting, but may be superseded by subsequent press releases.
December 16, 2011  ShaMaran Petroleum Finishes Drilling and Testing the Pulkhana-9 Geological Sidetrack
November 21, 2011  ShaMaran Q3 2011 Financial and Operating Results
November 15, 2011  ShaMaran Petroleum Closes $51 Million Private Placement
November 9, 2011  Shamaran Petroleum Increases Private Placement
October 25, 2011  ShaMaran Petroleum Announces $50 Million Private Placement
October 25, 2011  ShaMaran Petroleum Tests Oil From the Pulkhana-8 Re-Entry Well
October 3, 2011  ShaMaran Petroleum Identifies Two New Oil Bearing Zones in Pulkhana Field
August 5, 2011  Shamaran Q2 2011 Financial and Operating Results
July 28, 2011  ShaMaran Exercises Option to Convert Taza Block (Formerly Block K42) to Production Sharing Contract
June 22, 2011  ShaMaran Petroleum to Commence Trading on NASDAQ OMX First North, Stockholm, on June 22, 2011
June 10, 2011  ShaMaran Q1 2011 Financial and Operating Results
June 1, 2011  ShaMaran Petroleum to Commence Trading on First North, Stockholm on June 22, 2011
May 6, 2011  ShaMaran Reports on First KRG Oil Export Payments
May 5, 2011  ShaMaran Closes Final Tranche of Private Placement
May 4, 2011  ShaMaran Closes First Tranche of Private Placement
April 29, 2011  ShaMaran Petroleum to Apply for Listing on Nasdaq First North, Stockholm
April 19, 2011  ShaMaran Announces $50.4 Million Private Placement
April 13, 2011  ShaMaran Announces Major Oil Discovery at Atrush Project, Kurdistan
April 8, 2011  ShaMaran 2010 Year End Financial and Operating Results
April 5, 2011  ShaMaran Announces the Start of Drilling Operations at Pulkhana in Kurdistan
March 23, 2011  ShaMaran Announces Year End 2010 Contingent and Prospective Oil Resources