ShaMaran Petroleum has been informed by HKN Energy, the operator of the Sarsang Block in the Kurdistan Region of Iraq, that an explosion occurred earlier today at approximately 7:00 AM local time at one of the production facilities in the Sarang field. All personnel have been safely accounted for, and no injuries have been reported. HKN has initiated a full assessment of the situation and is coordinating closely with [...]
ShaMaran Petroleumheld its annual general and special meeting of shareholders in Vancouver, and all resolutions were passed. Shareholders voted as follows on the matters before the meeting: Fixing the number of Directors Shareholders fixed the number of directors at five with 99.65% of shares represented at the meeting voting in favour. Re-election of Directors Shareholders elected the following five board members to [...]
ShaMaran Petroleum released its financial and operating results and related management's discussion and analysis for the three months ended March 31, 2025. Garrett Soden, President and CEO of ShaMaran, commented: "The strong momentum from ShaMaran's 2024 performance continued in Q1 2025, with significant increases in our working interest production, sales and EBITDAX1 compared to Q1 2024. In the first four months of 2025 [...]
ShaMaran Petroleum announces that a large majority of the Company's bondholders in the 12% senior unsecured bond due July 2027 have voted in favor of the previously announced proposal to amend the Bond as referenced in the Company's news release of March 27, 2025. PDF Version The approved amendments to the Bond include converting the mandatory quarterly cash sweep to voluntary and extending the maturity by two years to [...]
ShaMaran Petroleum Corp. announces that it will repay a portion of the 12% senior unsecured bond on April 30, 2025. The Company expects to repay approximately $29.4 million at par pro rata to all bondholders utilizing the cash sweep mechanism under the amended and restated Bond terms dated June 27, 2024. The total outstanding amount of the Bond following the partial repayment will be approximately $143.8 million [...]
ShaMaran Petroleum Corp. announces that the Company has today issued a summons for written resolution to all bondholders in the outstanding 12% senior unsecured bond due July 2027 . The summons proposes amendments to the Bond , including converting the mandatory quarterly cash sweep to voluntary and extending the maturity by two years to July 2029. PDF Version The Company has met with and received strong support for the [...]
ShaMaran Petroleum Corp. announces that it will repay a portion of the 12% senior unsecured bond on January 30, 2025. The Company expects to repay approximately $26.8 million at par pro rata to all bondholders utilizing the cash sweep mechanism under the amended and restated Bond terms dated June 27, 2024. The total outstanding amount of the Bond following the partial repayment will be approximately $173.1 million. PDF [...]
ShaMaran Petroleum Corp. announces that a total of 15,140,000 stock options and 21,340,000 Restricted Share Units were granted today to certain officers, employees and other eligible persons of the Company pursuant to the Company's Stock Option Plan and Share Unit Plan. In addition, a total of 1,921,480 Deferred Share Units were granted today to the non-executive directors of the Company pursuant to the Company's Deferred [...]
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, 2024. View PDF Garrett Soden, President and CEO of ShaMaran, commented: "This is another strong quarter for ShaMaran, with the benefits of the TAQA/HKN transaction starting to show through our higher share of production and local sales at Atrush. We [...]
ShaMaran Petroleum Corp. announces the market purchase and cancellation of $2.1 million of the Company's 12% senior unsecured bond . The total outstanding amount of the Bond as of the date of this press release is $200.0 million. PDF Version ShaMaran plans to publish its financial statements for the nine months ending September 30, 2024, on November 7, 2024. Except as otherwise indicated, all currency amounts indicated as [...]
ShaMaran Petroleum Corp. today released its financial and operating results and related management's discussion and analysis for the three and six months ended June 30, 2024. View PDF Garrett Soden, President and CEO of ShaMaran, commented: "Our two blocks in Kurdistan continue to deliver solid EBITDAX1 and cash flow from local market sales. The recent TAQA/HKN transaction closing will allow us to increase production and [...]
ShaMaran Petroleum Corp. has closed the acquisition of TAQA Atrush B.V. and the subsequent sale of an indirect interest in Atrush to HKN Energy IV, Ltd. announced on January 22, 2024. The two-step transaction increased the Company's indirect 27.6% stake in the Atrush Block to a 50% working interest following the sale of an indirect 25% working interest to HKN Energy IV, Ltd. An affiliate of HKN Energy is now operator of [...]
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