ShaMaran Petroleum Corp. provides this announcement following the full drawdown of the Liquidity Guarantee issued by Nemesia S.á.r.l., a company controlled by a trust settled by the late Adolf H. Lundin, and the deposit of US$ 22.8 million into the debt service retention account of the Company for use in paying obligations relating to the Company's 12% senior unsecured bonds due 2023 as previously reported in the [...]
ShaMaran Petroleum Corp. provides the following update to stakeholders. View PDF version The Company confirms that a payment of $12.5 million has been received from the Kurdistan Regional Government for Atrush crude oil sales during June 2020. OTHER This information is information that ShaMaran Petroleum Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for [...]
ShaMaran Petroleum Corp. provides the following announcement to stakeholders in connection with the Company's news release dated July 1, 2020 and regarding the Bondholders of the Company's 12% senior unsecured bonds due 2023 . View PDF version ShaMaran is pleased to announce that the July 2020 interest payment has been made to all Bondholders from the Company's Debt Service Retention Account following a full drawdown of [...]
ShaMaran Petroleum Corp. provides the following update to stakeholders in connection with the Company's news release dated June 25, 2020 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 by the affirmative vote of more than 66 2/3% of the Bondholders regarding the [...]
ShaMaran Petroleum Corp. provides the following update to stakeholders in connection with the Company's news releases dated May 11, 2020 and June 11, 2020 that announced the breach of a financial covenant and imminent liquidity shortfall and recent discussions with its Bondholders: View PDF version The Company has been in discussions with the informal Ad Hoc Committee representing approximately more than 50% of the [...]
ShaMaran Petroleum Corp. provides the following update to stakeholders. View PDF Version. The Company confirms that a payment of $6.9 million has been received from the Kurdistan Regional Government for Atrush crude oil sales during May 2020. OTHER This information is information that ShaMaran Petroleum Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for [...]
ShaMaran Petroleum Corp. refers to the breach of financial covenant and liquidity shortfall announcements made by the Company on May 11, 2020. The Company continues to examine alternatives to address the breach and imminent liquidity shortfall, and reports that difficult discussions with its largest independent bondholders are continuing. No assurance can be given as to the outcome of any resolution to the breach and [...]
ShaMaran Petroleum Corp. confirms that a payment of $1.4 million has been received from the Kurdistan Regional Government for Atrush crude oil sales during April 2020. View PDF version OTHER This information is information that ShaMaran Petroleum Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out [...]
ShaMaran Petroleum Corp. today released its financial and operating results and related management discussion and analysis for the three months ended March 31, 2020. All currency amounts indicated as "$" in this news release are expressed in United States dollars. View PDF version ShaMaran President and CEO, Dr. Adel Chaouch commented, "It is well known that these are tough times for the majority of oil companies around [...]
ShaMaran Petroleum Corp. reports that following the announcements of ShaMaran's 2019 year-end financial and operating results on March 3, 2020 and the 2020 Atrush guidance on February 25, 2020, the Company is today providing an operational, 2020 budget and financial update. View PDF Version. OPERATIONAL UPDATE In the current challenging operating environment, the priority of the Atrush co-venturers has been the safety and [...]
ShaMaran Petroleum Corp. provides the following update to shareholders. View PDF Version. The Company confirms that a payment of $9.6 million has been received from the Kurdistan Regional Government for Atrush crude oil sales during March 2020. It should be noted that a proposal has been received by the Company from the KRG to defer their payment of the Atrush crude oil sales for November 2019 - February 2020. It is the [...]
ShaMaran Petroleum Corp. provides the following update to shareholders. View PDF Version The Company confirms that a payment of $16.2 million has been received from the Kurdistan Regional Government for Atrush crude oil sales during October 2019. The payment is net of production bonus amounts owing to the KRG under the terms of the Atrush production sharing contract relating to the 25 million barrel cumulative production [...]
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