Bayou Bend Petroleum Ltd. reports that at the Company’s Annual General and Special Meeting held on October 16, 2009, shareholders approved a corporate name change to “ShaMaran Petroleum Corp. The Company will commence trading under a new symbol “SNM” at the market opening on October 21, 2009. The new website address will be www.shamaranpetroleum.com.

In addition, the Company’s shareholders passed a resolution ratifying and approving certain production sharing contracts with the Kurdistan Regional Government (the “Transaction Agreements”) which were previously announced by the Company on August 31, 2009. The TSX Venture Exchange has also approved the Transaction Agreements. As a result, all of the release conditions for the exercise of the Subscription Receipts that were issued on September 28, 2009 have now been met and the net proceeds of the previously announced $105 million private placement have been released from escrow to the Company. The net proceeds will be used to fund commitments related to the Company's acquisition of working interests in three separate exploration and development blocks in the region of Kurdistan in Northern Iraq, as previously announced on August 31, 2009; ongoing exploration and development activity; and for general corporate purposes.

Tags: Bayou Bend Petroleum Ltd., ShaMaran Petroleum Corp