Last C$0.33 CAD
Change Today +0.005 / 1.56%
Volume 51.5K
SNM On Other Exchanges
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As of 2:08 PM 09/23/14 All times are local (Market data is delayed by at least 15 minutes).

shamaran petroleum corp (SNM) Snapshot

Open
C$0.32
Previous Close
C$0.32
Day High
C$0.33
Day Low
C$0.32
52 Week High
10/22/13 - C$0.48
52 Week Low
09/18/14 - C$0.28
Market Cap
263.6M
Average Volume 10 Days
373.6K
EPS TTM
C$-0.0010
Shares Outstanding
811.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
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Current Stock Chart for SHAMARAN PETROLEUM CORP (SNM)

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shamaran petroleum corp (SNM) Details

ShaMaran Petroleum Corp., an independent oil and gas company, is engaged in oil exploration and development in the Kurdistan Region of Iraq. It principally holds a 20.1% working interest in the Atrush Block, which covers an area of 269 square kilometers that is located to the northwest of Erbil. The company was formerly known as Bayou Bend Petroleum Ltd. and changed its name to ShaMaran Petroleum Corp. in October 2009. ShaMaran Petroleum Corp. is headquartered in Vancouver, Canada.

10 Employees
Last Reported Date: 03/13/14

shamaran petroleum corp (SNM) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $509.0K
Chief Financial Officer
Total Annual Compensation: $279.4K
Compensation as of Fiscal Year 2013.

shamaran petroleum corp (SNM) Key Developments

Shamaran Petroleum Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

ShaMaran Petroleum Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported loss before finance items and income tax expense was $536,000 against $1,020,000 a year ago. Loss before income tax expense was $1,819,000 against $1,033,000 a year ago. Loss from continuing operations was $1,842,000 against $1,043,000 a year ago. Loss for the period was $1,843,000 against $1,050,000 a year ago. Net cash inflows from operating activities were $4,365,000 against $1,235,000 a year ago. Purchases of intangible assets were $14,948,000 against $7,957,000 a year ago. For the six months, the company reported loss before finance items and income tax expense was $1,250,000 against $1,490,000 a year ago. Loss before income tax expense was $3,895,000 against $1,453,000 a year ago. Loss from continuing operations was $3,950,000 against $1,503,000 a year ago. Loss for the period was $3,966,000 against $1,530,000 a year ago. Net cash outflows from operating activities were $2,472,000 against $2,287,000 a year ago. Purchases of intangible assets were $28,665,000 against $10,320,000 a year ago.

Shamaran Petroleum Corp Provides Drilling Update on the Atrush Development

ShaMaran Petroleum Corp. provided an operational update on the Atrush development in the Kurdistan Region of Iraq. The Chiya Khere (CK-5) development well was spudded on May 16, 2014 using the DQE31 drilling rig and reached Total Depth of 2,098 metres Measured Depth (1,744 metres True Vertical Depth) in the Butmah formation on June 28, in 43 days. The well was drilled ahead of schedule and under budget. The well was deviated from the same well pad as AT-1 & AT-4 with the bottomhole location approximately 870 metres WSW of the surface location. The average hole angle through the reservoir section was 40 degrees. CK-5 will be tested using a service rig in early 2015 prior to final completion and tie-in to the Phase One production facility. As in previous wells, no water leg was encountered in the reservoir section, with the well penetrating a gross vertical oil column (assuming an estimated average Free Water level of -443 metres subsea) of approximately 540 metres. The DQE31 spudded the Chiya Khere (CK-8) development well from the same well pad on July 19, 2014, which is a similar well to CK-5 targeting a bottomhole location approximately 1.5 km ESE of the surface location. This well is also planned to be tested using a service rig in early 2015 prior to final completion and tie-in to the Phase One production facility. A second drilling rig is to be mobilised in August 2014 to focus on the Phase Two appraisal work which consists of the CK-6 appraisal well (to be drilled from the same well pad as AT-3), the planned retest of AT-3 and the CK-7 appraisal/development well (location under construction).

ShaMaran Petroleum Corp. Elects Keith Hill as Director

ShaMaran Petroleum Corp. elected Keith Hill as director for the upcoming year at its AGM held on June 18, 2014.

 

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