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 VANCOUVER BC V6C 3E8 |
| Tel: | N/A |
| Website: | https://www.shamaranpetroleum.com |
| 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 fiscal year ended 31 December 2023, ShaMaran Petroleum Corp revenues decreased 53% to $82.9M. Net loss totaled $26.7M vs. income of $115M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net loss reflects Bargain purchase gain on acquisition decrease from $60.1M (income) to $0K, Credit loss provision increase from $3.9M to $13.9M (expense). |
| Employees: | 10 as of Dec 31, 2022 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $482.22M as of Dec 31, 2023 |
| Annual revenue (TTM): | $114.09M as of Dec 31, 2023 |
| EBITDA (TTM): | $41.41M as of Dec 31, 2023 |
| Net annual income (TTM): | -$36.76M as of Dec 31, 2023 |
| Free cash flow (TTM): | $17.19M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $284.37M as of Dec 31, 2023 |
| Shares outstanding: | 2,827,448,827 as of Apr 1, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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