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ShaMaran Petroleum Corp. (V:SNM)

Business Focus: Oil & Gas Exploration and Production (NEC)

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
Elvis Pellumbi
Chief Financial Officer
Alex Lengyel
Corporate Secretary, Chief Commercial Officer
Business Overview
ShaMaran Petroleum Corp. is a Canada-based independent oil development and exploration company. The Company is engaged in the business of oil and gas exploration and development and holds an interest in the Atrush Block production sharing contract (Atrush 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. The Atrush Block is located in the Kurdistan Region of Iraq, approximately 85 kilometers northwest of Erbil, the capital of Kurdistan. The Atrush Block is 269 square kilometers in area and has oil proven in Jurassic fractured carbonates in the Chiya Khere structure. The Company's subsidiaries include General Exploration Partners, Inc., ShaMaran Services S.A., Bayou Bend Petroleum U.S.A. Ltd, and 0781756 B.C. Ltd.
Financial Overview
For the nine months ended 30 September 2022, ShaMaran Petroleum Corp revenues increased 65% to $123.5M. Net income increased from $9.3M to $102.7M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net income benefited from Interest on deposits increase from $14K to $1.9M (income), Legal, accounting and audit fees decrease of 51% to $690K (expense).
Employees: 9 as of Dec 31, 2021
Reporting Currency: U.S. Dollars
Enterprise value: $583.73M as of Sep 30, 2022
Annual revenue (TTM): $200.87M as of Sep 30, 2022
EBITDA (TTM): $155.62M as of Sep 30, 2022
Net annual income (TTM): $142.06M as of Sep 30, 2022
Free cash flow (TTM): $131.54M as of Sep 30, 2022
Net Debt Last Fiscal Year: $275.14M as of Sep 30, 2022
Shares outstanding: 2,808,850,904 as of Dec 30, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization