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ShaMaran Petroleum Corp. (V:SNM)

Business Focus: Oil & Gas Exploration and Production

Sector:  Energy Industry:  Oil & Gas Exploration and Production
See Regulatory Filings on SEDAR
Company Contact
Address: 2000-885 Georgia St W
Tel: 1-604-8063575
IR: See website
Key People
Chris Bruijnzeels
Chairman of the Board
Adel Chaouch
President, Chief Executive Officer, Director
Brenden Johnstone
Chief Financial Officer
Alex Lengyel
Corporate Secretary, Chief Commercial Officer
Business Overview
ShaMaran Petroleum Corp. is an oil development and exploration company. The Company is engaged in the business of oil and gas exploration and development and is in the pre-production stages of an exploration and development campaign in respect of the Atrush Block production sharing contract (Atrush Block PSC) related to a petroleum property located in the Kurdistan Region of Iraq (Kurdistan). It operates in the exploration and development of oil and gas assets segment. The Phase I of Atrush field development consists of installing and commissioning production facilities with approximately 30,000 barrels of oil per day (bopd) capacity and the drilling and completion of over five production wells to supply the production facility. It has not generated any revenues. Its subsidiaries include ShaMaran Petroleum Holdings Cooperatief U.A., ShaMaran Ventures B.V., ShaMaran Petroleum B.V., ShaMaran Services S.A., Bayou Bend Petroleum U.S.A. Ltd and General Exploration Partners, Inc.
Financial Overview
For the six months ended 30 June 2021, ShaMaranPetroleum Corp revenues increased 68% to $45.8M. Net incometotaled $9.3M vs. loss of $139.9M. Revenues reflect anincrease in demand for the Company's products and servicesdue to favorable market conditions. Net Income reflectsImpairment of Intangibles Excl Goodwill decrease from$67.6M (expense) to $0K, Impairment - Fixed Assets decreasefrom $48.5M (expense) to $0K.
Employees: 11 as of Dec 31, 2020
Reporting Currency: U.S. Dollars
Enterprise value: $377.09M as of Jun 30, 2021
Annual revenue (TTM): $96.44M as of Jun 30, 2021
EBITDA (TTM): $58.04M as of Jun 30, 2021
Net annual income (TTM): $6.13M as of Jun 30, 2021
Free cash flow (TTM): $34.60M as of Jun 30, 2021
Net Debt Last Fiscal Year: $221.25M as of Jun 30, 2021
Shares outstanding: 2,208,509,663 as of Sep 8, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization