Mr. Robert Eriksson reports

SHAMARAN ANNOUNCES ANNUAL GENERAL AND SPECIAL MEETING TO BE HELD ON JUNE 22, 2023

The 2023 annual general and special meeting of Shamaran Petroleum Corp. shareholders will be held on June 22, 2023, at 2000, 885 West Georgia St., Vancouver, B.C., V6C 3E8, Canada, at 8 a.m. Mountain Time for these purposes:

1. To receive the audited consolidated financial statements of the company for the financial year ended Dec. 31, 2022, and accompanying report of the auditor, and the management's discussion and analysis of the company for the year ended Dec. 31, 2022;
2. To set the number of directors of the company at six;
3. To elect the six nominees of the company standing for election as directors of the company to hold office until the next annual meeting of shareholders or until his or her successor is duly elected or appointed;
4. To appoint PricewaterhouseCoopers SA as the auditor of the company, to hold office until the next annual general meeting of shareholders and to authorize the directors to fix the auditor's remuneration;
5. To approve the proposed amendments to, and renewal of, the company's incentive stock option plan;
6. To approve the proposed amendments to the company's deferred share unit plan;
7. To transact such other business as may properly come before the meeting or any adjournment(s) or postponement(s) of the meeting.

The record date for determining shareholders entitled to vote at the meeting will be fixed at the close of business Mountain Time on May 5, 2023.

About Shamaran Petroleum Corp.

Shamaran is a Kurdistan-focused oil development and exploration company which holds a 27.6-per-cent interest, through its wholly owned subsidiary, General Exploration Partners Inc., in the Atrush block and also holds an 18-per-cent interest (22.5-per-cent paying interest), through its wholly owned subsidiary ShaMaran Sarsang A/S, in the Sarsang block.