Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

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
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 six months ended 30 June 2022, ShaMaran Petroleum Corp revenues increased 83% to $83.7M. Net income increased from $9.3M to $36.3M. 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 $10K to $494K (income), Prov for decommi fund & envir oblig increase from $183K to $567K (income).
Employees: 9 as of Dec 31, 2021
Reporting Currency: U.S. Dollars
Enterprise value: $514.42M as of Jun 30, 2022
Annual revenue (TTM): $181.50M as of Jun 30, 2022
EBITDA (TTM): $131.82M as of Jun 30, 2022
Net annual income (TTM): $52.22M as of Jun 30, 2022
Free cash flow (TTM): $113.79M as of Jun 30, 2022
Net Debt Last Fiscal Year: $238.29M as of Jun 30, 2022
Shares outstanding: 2,795,772,072 as of Jun 30, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization