ShaMaran Petroleum Corp.

ShaMaran Petroleum Corp. plans to meet with major bondholders in the Company's outstanding 12% senior unsecured bond due July 2025 in order to amend certain terms and extend the Bond's final maturity by two years. PDF Version As disclosed recently in the Company's Q1 2024 results, ShaMaran's cash flow has improved with increased production and sales to the local market in Kurdistan. The Company expects its stronger cash [...]

ShaMaran Petroleum Corp. today released its financial and operating results and related management's discussion and analysis for the three months ended March 31, 2024. PDF Version Garrett Soden, President and CEO of ShaMaran, commented: "The Sarsang and Atrush blocks performed well in Q1 2024 with the highest quarterly EBITDAX1 since we started selling to the local market last year. We continue to focus on optimizing cash [...]

ShaMaran Petroleum Corp. announces that its Annual General and Special Meeting of Shareholders will be held in Canada on Tuesday, June 25, 2024, at 8:00 am at 1055 Dunsmuir Street, Suite 2800, Vancouver, British Columbia, V7X 1L2 for the following purposes: To receive the consolidated audited financial statements and accompanying management discussion and analysis of the Company for the year ended December 31, 2023 [...]

ShaMaran Petroleum Corp. has granted incentive stock options to certain officers, employees and other eligible persons of the Company to acquire 26,540,000 shares of the Company at an exercise price of CAD$0.05 per share. The options are exercisable, subject to vesting provisions, over a period of five years. ShaMaran has also granted 41,110,000 restricted share units at a price of CAD$0.05 to certain officers, employees [...]

ShaMaran Petroleum Corp. today released its financial and operating results and related management's discussion and analysis for the three and twelve months ended December 31, 2023. View PDF Garrett Soden, President and CEO of ShaMaran, commented: "The Sarsang and Atrush blocks are generating significant cash flow from local sales following the closure of the Iraq-Turkey pipeline last year. We continue to work with our [...]

ShaMaran Petroleum Corp. announces its 2023 year-end reserves and resources filings. PDF Version Production from the Company's assets in Kurdistan was impacted in 2023 by the closure of the Iraq-Turkey pipeline on March 25, 2023. The ITP closure initially reduced production rates from the Sarsang Block due to market demand constraints when local sales commenced via trucking in April 2023. Production from the Atrush Block [...]

ShaMaran Petroleum Corp. is presenting at the Pareto Securities E&P Independents Conference in London on Thursday, January 25, 2024, at approximately 2:45 p.m. Greenwich Mean Time. A copy of the presentation will be available on the Company's website below. In advance of the presentation, the Company provides the following operational and financial update for Q4 2023. PDF Version ShaMaran's daily net production in Q4 2023 [...]

ShaMaran Petroleum Corp. has entered into definitive agreements for a two-step transaction to increase its indirect working interest in the Atrush Block in Kurdistan from 27.6% to 50%, with HKN Energy IV, Ltd. , an affiliate of HKN Energy Ltd. , indirectly acquiring a 25% working interest and operatorship, subject to required approvals. View PDF Garrett Soden, President and CEO of ShaMaran, commented: "This transaction [...]

ShaMaran Petroleum Corp. today released its financial and operating results and related management's discussion and analysis for the three and nine months ended September 30, 2023. View PDF Garrett Soden, President and CEO of ShaMaran, commented: "The Iraq-Turkey pipeline has been closed for more than seven months, and it is still unclear if and when exports will resume. We are actively seeking commercial solutions for [...]

ShaMaran Petroleum Corp. and today released its financial and operating results and related management's discussion and analysis for the three and six months ended June 30, 2023. PDF Version Garrett Soden, President and CEO of ShaMaran, commented: "The continued closure of the Iraq-Turkey pipeline and delayed payments for past oil sales materially impacted all Kurdistan oil producers during the second quarter of 2023 [...]