ShaMaran Petroleum Corp.

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 [...]

ShaMaran Petroleum Corp. provides the following update on the Company's previously disclosed engagement with its bondholders. PDF Version ShaMaran requested a bond waiver to release cash from the Debt Service Retention Account and received the affirmative vote from 100% of those voting, representing approximately 74% of its bondholders. The waiver allows the Company to use restricted cash in the DSRA to pay the bond [...]

ShaMaran Petroleum Corp. announces an operational and corporate update. PDF Version The Company's operations remain heavily impacted by the continued closure of the Iraq-Turkey pipeline , which has resulted in either a partial or complete shutdown of many fields located in the Kurdistan region of Iraq . ShaMaran understands that negotiations between officials in Iraq and Turkey about re-opening the ITP started in late [...]

ShaMaran Petroleum held its annual general and special meeting of shareholders in Vancouver, and all resolutions were passed. A total of 777,529,488 common shares were voted at the meeting, representing 27.56% of the votes attached to all the outstanding common shares of the Company. Shareholders voted as follows on the matters before the meeting: Fixing the number of Directors Shareholders fixed the number of directors [...]

ShaMaran Petroleum Corp. has granted incentive stock options to certain officers, employees and other eligible persons of the Company to acquire 29,400,000 shares of the Company at an exercise price of CAD$0.063 per share. The options are exercisable, subject to vesting provisions, over a period of five years. ShaMaran has also granted 19,750,000 restricted share units at a price of CAD$0.063 to certain officers [...]