Business NewsMarketWire • Lorito Holdings S.a.r.l. and Zebra Holdings & Investments S.a.r.l.; Corporate Update

Lorito Holdings S.a.r.l. and Zebra Holdings & Investments S.a.r.l.; Corporate Update

Lorito Holdings S.a.r.l. and Zebra Holdings & Investments S.a.r.l.; Corporate Update

GENEVA, SWITZERLAND--(Marketwire - May 12, 2011) - Lorito Holdings S.a.r.l. ("Lorito") and Zebra Holdings & Investments S.a.r.l. ("Zebra") announce that on May 5, 2011 they acquired 9,333,200 common shares and 7,000,000 common shares respectively, of ShaMaran Petroleum Corp. (the "Company") for an aggregate of 16,333,200 common shares or approximately 2.40% of the Company's current issued and outstanding common shares. The common shares were issued at a price of $0.90 each for total consideration of $14,699,880. Lorito and Zebra are joint actors.

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