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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
Company Contact
Address: 2000-885 Georgia St W
Tel: N/A
IR: See website
Key People
Chris Bruijnzeels
Chairman of the Board
Garrett Soden
President, Chief Executive Officer, Director
Elvis Pellumbi
Chief Financial Officer
Alex C. Lengyel
Corporate Secretary, Chief Commercial Officer
Business Overview
ShaMaran Petroleum Corp. is a Canada-based independent oil and gas company with production from two adjacent blocks in the Kurdistan region of Iraq. The Company is engaged in the business of oil and gas exploration and development and holds interests in production sharing contracts: 27.6% participating interest in the Atrush Block, in the Kurdistan Region of Iraq (KRI), through its wholly owned subsidiary General Exploration Partners, Inc. (GEP) and 18% participating interest (22.5% paying interest) in the Sarsang Block, in the Kurdistan Region of Iraq, through its wholly owned subsidiary ShaMaran Sarsang A/S. The Company is also focused on developing the considerable reserve and production upside potential of its projects.
Financial Overview
For the six months ended 30 June 2023, ShaMaran Petroleum Corp revenues decreased 40% to $49.9M. Net loss totaled $17.6M vs. income of $36.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net loss reflects Credit loss provision increase from $2.5M to $13M (expense), Interest/amortization charges on bonds increase of 15% to $19.7M (expense).
Employees: 10 as of Dec 31, 2022
Reporting Currency: U.S. Dollars
Enterprise value: $419.09M as of Jun 30, 2023
Annual revenue (TTM): $192.87M as of Jun 30, 2023
EBITDA (TTM): $112.35M as of Jun 30, 2023
Net annual income (TTM): $82.47M as of Jun 30, 2023
Free cash flow (TTM): $22.50M as of Jun 30, 2023
Net Debt Last Fiscal Year: $327.10M as of Jun 30, 2023
Shares outstanding: 2,824,362,157 as of Jun 30, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization