ShaMaran Petroleum Corp. : SNM), in line with other producing IOCs in Kurdistan, has received a letter from the Kurdistan Regional Government proposing an amendment, starting with the March 2021 oil sales and entitlement invoice, to payment terms due to the ongoing challenges in Iraq with the COVID-19 pandemic. View PDF version The KRG has noted that since the dated Brent price has remained consistently well above $50 per [...]
ShaMaran Petroleum Corp. today released its financial and operating results and related management's discussion and analysis for the three months ended March 31, 20201. View PDF Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented: "ShaMaran's focus on financial discipline and reducing our debt has resulted in extremely positive results for the Company. Our Q1 EBITDA of $13.5 million is more than [...]
VANCOUVER, BC, April 12, 2021 /CNW/ - ShaMaran Petroleum Corp. is pleased to confirm payment to the Company of $10.5 million from the Kurdistan Regional Government for the February 2021 Atrush oil sales invoice and entitlements and from the KRG's proposed repayment mechanism for receivables. In particular, the February 2021 Atrush sales and entitlements as received are $23.8 million and $6.5 million as the second monthly [...]
ShaMaran Petroleum Corp. is pleased to report in connection with the Company's 12% senior unsecured bonds due 2023 that the Company has purchased Bonds in the market at commercially attractive rates. As a result, Bonds in the principal amount of $4.95 million have been retired. The Company's Bond amortization payment due in December 2021 has accordingly been reduced by 33%. View PDF version. Dr. Adel Chaouch, President [...]
ShaMaran Petroleum Corp. , an oil and gas company with a producing asset in the Kurdistan Region of Iraq, announces that the Company's President and CEO, Dr. Adel Chaouch, will be presenting at the Pareto Securities' 16th annual E&P Independents Conference at 12:50 - 13:10 on March 25, 2021. View PDF version A copy of the presentation will be available on ShaMaran's website www.shamaranpetroleum.com and [...]
ShaMaran Petroleum Corp. is pleased to confirm payment of $21.7 million has been received from the Kurdistan Regional Government for Atrush oil sales invoice entitlements for the month of January 2021. In addition, the Company has also been paid $1.04 million as the first monthly implementation of the KRG's proposed repayment mechanism for receivables. View PDF version OTHER This information is information that ShaMaran [...]
ShaMaran Petroleum Corp. today released its financial and operating results and related management's discussion and analysis for the three months and year ended December 31, 20211. View PDF version Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented "We have witnessed in 2020 the profound impact of the global coronavirus pandemic and the collapse of crude prices on the oil and gas industry [...]
ShaMaran Petroleum Corp. is pleased to report an increase in the Atrush Property Gross 2P reserves to 109.9 MMbbls at December 31, 2020, up from 108.5 MMbbls at the end of 2019. Taking into account 2020 production, this equates to a 2P reserves replacement ratio of 108% and an increase in the Company's gross 2P reserves from 29.9 MMbbls to 30.3 MMbbls. Reserves and contingent resources estimates were provided by McDaniel [...]
ShaMaran Petroleum Corp. , an oil and gas company with a producing asset in the Kurdistan Region of Iraq, announces that the Company's President and CEO, Dr. Adel Chaouch, will be presenting at the SpareBank 1 Markets Digital Energy Conference on February 17, 2021. Dr. Chaouch will present as part of a Kurdistan panel discussion between 11:00 a.m. and 12:15 p.m. CET and subsequently as part of a Lundin Group panel [...]
ShaMaran Petroleum Corp. provides the following update to stakeholders in connection with the Company's news release dated January 12, 2021 regarding the Proposal that was submitted to the Bondholders relating to the Company's 12% senior unsecured bonds due 2023 . View PDF version. ShaMaran is pleased to announce that the Proposal has been approved with the full support of all of the Bondholders voting on the Proposal [...]
VANCOUVER, BC, Jan. 26, 2021 /CNW/ - Petroleum Corp. provides the following update to stakeholders. View PDF Version. The Company confirms that a payment of $19.2 million has been received from the Kurdistan Regional Government for Atrush oil sales invoice entitlements for the month of December 2020. OTHER This information is information that ShaMaran Petroleum Corp. is obliged to make public pursuant to the EU Market [...]
ShaMaran Petroleum Corp. is pleased to announce the issuance today of a Summons for Written Resolution from Nordic Trust AS as Bond Trustee to all Bondholders of the Company's 12% senior unsecured bonds due 2023 setting out the details of the Proposal with a voting period ending on January 26, 2021. View PDF version. DISCUSSIONS WITH BONDHOLDERS The Company has been in discussions with the informal Ad Hoc Committee [...]
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