ShaMaran Petroleum held 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 99.78% of shares represented at the meeting voting in favour. Re-election of Directors Shareholders elected the following five board members to [...]
VANCOUVER, BC , June 24, 2024 /CNW/ - ShaMaran Petroleum Corp. announces the positive results of the buy-back tender offer to bondholders in the Company's 12% senior unsecured bond previously disclosed in the Company's news release on June 10, 2024. PDF version The Company received more than enough offers to fill the full tender amount of US$47 million, and settlement will take place on June 26, 2024. Following settlement [...]
ShaMaran Petroleum Corp. announces that a large majority of the Company's bondholders in the 12% senior unsecured bond due July 2025 have voted in favor of the previously announced proposal to amend the Bond as referenced in the Company's news releases on May 21, 2024, and May 27, 2024. PDF Version The approved amendments to the Bond include a two-year extension of the maturity date to July 2027 and other financial [...]
ShaMaran Petroleum Corp. refers to the Company's press release on May 21, 2024, and announces that the Company has today issued a summons for written resolution to all bondholders in the outstanding 12% senior unsecured bond due July 2025 . The summons proposes amendments to the Bond , including a two-year extension to July 2027. PDF Version The Company has met with and received strong support for the Proposal from a [...]
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 [...]
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