ShaMaran Petroleum Corp. - Oil Exploration and Development in Iraqi-Kurdistan (Seite 4)
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Antwort auf Beitrag Nr.: 72.400.902 von texas2 am 15.09.22 10:43:35Ja ist nicht ganz zu verstehen. Ich habe bis zum Schluss geglaubt das es so läuft wie bei dem Marathon Zukauf bei Atrush. Aber gut dann hat man eben mehr Zeit zum zukaufen.
Ja, endlich ist der Sarsang Deal durch und abgeschlossen mit dem closing. Plus mickrige 10% im Augenblick beim Kurs in Schweden, denke dass der Markt noch nicht richtig verstanden, realisiert hat was das für die zusätzliche Produktion jetzt und in der Zukunft bedeutet
SHAMARAN ANNOUNCES CLOSING OF SARSANG ACQUISITION
V.SNM | 10 hours ago
VANCOUVER, BC, Sept. 14, 2022 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North Growth Market (Sweden): SNM) is pleased to announce that the acquisition of TEPKRI Sarsang A/S ("TEPKRI"), that was previously announced in the Company's news release of July 12, 2021, has been completed today. View PDF
In addition, the Company has filed the necessary paperwork in Denmark to change TEPKRI's name to ShaMaran Sarsang A/S and also to change its Copenhagen registered office address.
Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran stated, "This is a momentous day for ShaMaran as with this acquisition (effective date of January 1, 2021) we have transformed ShaMaran from being a single asset company into one owning a portfolio of stakes in three world class producing oil fields (Atrush, Swara Tika and East Swara Tika) in Kurdistan with improved oil qualities and complementary production horizons. Based on the guidance from the operator of Sarsang, net production to ShaMaran will more than double on a pro-forma basis, positioning ShaMaran among the top five International Oil Companies in Kurdistan on a net production basis. We also expect our reserves to also more than double and the Company will update the market on this sizeable reserve acquisition in due course.
As part of the transaction closing, the two outstanding bonds of the Company are being merged into a single $300 million issue with maturity in 2025. Interest on the two bonds will be paid on Monday September 26, 2022 prior to bond conversion to be completed on Tuesday September 27, 2022. The interest period for the $300 million 2025 bond will be September 27, 2022 until the next scheduled interest payment in January 2023. During the third quarter of 2022 ShaMaran has bought back a number of its own bonds through competitive market transactions which when combined with the previously disclosed acquisitions means that the Company now owns in excess of 10% of the new 2025 bonds.
At closing the Company has a very strong cash position. Total cash reserves (inclusive of restricted cash) are in excess of $118 million following the acquisition of over $30 million in the Company's own bonds, with pro-forma leverage well under 1x net debt to EBITDA – our stated year end target. It is the Company's intent to imminently retire the $20 million convertible instrument issued to TotalEnergies as part of the purchase price, 11 months ahead of the originally announced schedule. Going forward the Company's financial metrics will strengthen even further and in the current oil price environment, we expect strong cashflows from our three producing oil fields. We look forward to seeing the value created through our successful operations, and acquisitions translate into much stronger growth in shareholder value for years to come."
SHAMARAN ANNOUNCES CLOSING OF SARSANG ACQUISITION
V.SNM | 10 hours ago
VANCOUVER, BC, Sept. 14, 2022 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North Growth Market (Sweden): SNM) is pleased to announce that the acquisition of TEPKRI Sarsang A/S ("TEPKRI"), that was previously announced in the Company's news release of July 12, 2021, has been completed today. View PDF
In addition, the Company has filed the necessary paperwork in Denmark to change TEPKRI's name to ShaMaran Sarsang A/S and also to change its Copenhagen registered office address.
Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran stated, "This is a momentous day for ShaMaran as with this acquisition (effective date of January 1, 2021) we have transformed ShaMaran from being a single asset company into one owning a portfolio of stakes in three world class producing oil fields (Atrush, Swara Tika and East Swara Tika) in Kurdistan with improved oil qualities and complementary production horizons. Based on the guidance from the operator of Sarsang, net production to ShaMaran will more than double on a pro-forma basis, positioning ShaMaran among the top five International Oil Companies in Kurdistan on a net production basis. We also expect our reserves to also more than double and the Company will update the market on this sizeable reserve acquisition in due course.
As part of the transaction closing, the two outstanding bonds of the Company are being merged into a single $300 million issue with maturity in 2025. Interest on the two bonds will be paid on Monday September 26, 2022 prior to bond conversion to be completed on Tuesday September 27, 2022. The interest period for the $300 million 2025 bond will be September 27, 2022 until the next scheduled interest payment in January 2023. During the third quarter of 2022 ShaMaran has bought back a number of its own bonds through competitive market transactions which when combined with the previously disclosed acquisitions means that the Company now owns in excess of 10% of the new 2025 bonds.
At closing the Company has a very strong cash position. Total cash reserves (inclusive of restricted cash) are in excess of $118 million following the acquisition of over $30 million in the Company's own bonds, with pro-forma leverage well under 1x net debt to EBITDA – our stated year end target. It is the Company's intent to imminently retire the $20 million convertible instrument issued to TotalEnergies as part of the purchase price, 11 months ahead of the originally announced schedule. Going forward the Company's financial metrics will strengthen even further and in the current oil price environment, we expect strong cashflows from our three producing oil fields. We look forward to seeing the value created through our successful operations, and acquisitions translate into much stronger growth in shareholder value for years to come."
Antwort auf Beitrag Nr.: 72.399.084 von MrArbogast am 15.09.22 06:37:37
Und nun ist die Sarsang Übernahme abgeschlossen.
Zitat von MrArbogast: https://stockhouse.com/news/press-releases/2022/09/14/shamaran-announces-closing-of-sarsang-acquisition
Und nun ist die Sarsang Übernahme abgeschlossen.
Antwort auf Beitrag Nr.: 72.334.840 von texas2 am 04.09.22 09:25:34After two years of gradually declining oil production in Iraqi Kurdistan, the second half of the year will bring some relief with the imminent ramp-up of output from HKN’s Swara Tika oil field, additional output from early production facilities at Gulf Keystone Petroleum’s Shaikan, and gains from the Atrush field operated by the UAE’s Taqa, according to plans recently publicized by those companies.
https://www.iraqoilreport.com/news/iocs-double-down-on-kurdi…
https://www.iraqoilreport.com/news/iocs-double-down-on-kurdi…
Trading Spotlight
VANCOUVER, BC, Sept. 2, 2022 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North Growth Market (Sweden): SNM) confirms receipt of payment for the May 2022 Atrush sales and entitlements at $39.16 million ($14.41 million net to the Company). View PDF version
Antwort auf Beitrag Nr.: 72.166.878 von texas2 am 10.08.22 15:03:41Das KRG die Schulden bezahlt hat, hat mir auch gut gefallen. 😁
Die Kurden haben inzwischen auch den "Kredit" für die unbezahlte Ölproduktion zurückgezahlt , der zusätzlich das Leben von Snm erschwert hat. Aber was ist das schon wenn die Kurden gegen IS ums Überleben gekämpft haben. Baghdad macht ebenfalls wieder ein wenig Ärger warum das Öl nicht Baghdad alleine gehört, aber auch da bin ich zuversichtlich dass die Kurden sich erfolgreich wehren werden.
The KRG has fully repaid the $41.7 million of overdue receivables for November 2019 to February 2020.
Mit dem zurückgezahlten Geld hat KRG denke ich gezeigt, dass sie ein verlässlicher Partner für die Ölfirmen sind ( und hoffe dass es so bleibt)
The KRG has fully repaid the $41.7 million of overdue receivables for November 2019 to February 2020.
Mit dem zurückgezahlten Geld hat KRG denke ich gezeigt, dass sie ein verlässlicher Partner für die Ölfirmen sind ( und hoffe dass es so bleibt)
Antwort auf Beitrag Nr.: 72.164.397 von texas2 am 10.08.22 10:04:26Ja das entwickelt sich alles sehr gut. Jetzt muss aber der Kurs auch mal anspringen. Das ist hier eine Story bei der einem die Füße einschlafen.
Antwort auf Beitrag Nr.: 72.087.872 von MrArbogast am 29.07.22 18:43:12Soweit ich es überflogen habe sieht alles gut aus.
VANCOUVER, BC, Aug. 9, 2022 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North Growth Market (Sweden): SNM) today released its financial and operating results and related management's discussion and analysis (MD&A) for the three and six months ended June 30, 2022¹. View PDF
Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented "I am very pleased to report that in the second quarter of 2022 the Company delivered to its investors another record set of results. Sales grew by over 78% versus the same quarter in 2021 and cash flow from operations nearly doubled over the same period.
During Q2 2022, ShaMaran completed our rights offering, giving the opportunity to all eligible shareholders to participate in the continued success of the Company and creating additional flexibility for the Company to grow into the future. This rights offering was oversubscribed and demonstrates the continued support of the Company's shareholders to ShaMaran's business direction.
We continue with the Atrush drilling campaign with the production well CK-18 spudded in July 2022, this well is forecast to commence producing in Q4 of 2022. Also in July, the workover operations to increase production at the CK-17 production well began. This well is now back online.
We are awaiting final signatures on the Sarsang acquisition and look forward to that asset delivering additional high-quality barrels for the Company post completion. The acquisition is expected to close in Q3 2022.
The strong operational cash generation from Atrush and the Kurdistan Regional Government ("KRG") repayment of the overdue receivables from November 2019 means that our net debt position is well under one-time EBITDAX² at the end of the first half of 2022. In the current oil price environment, our market leading free cash flow yield is expected to grow significantly post the full ramp up of production at Sarsang, further strengthening the strategic flexibility of ShaMaran going forward."
Atrush Financial Highlights
Three months ended June 30
Six months ended June 30
USD Thousands¹
2022
2021
2022
2021
Revenue
44,844
25,208
83,680
45,814
Gross margin on oil sales
34,208
14,953
61,887
25,207
Net result
21,170
6,834
36,250
9,303
Cash flow from operations
40,720
22,739
64,482
28,023
EBITDAX
37,339
18,402
67,810
31,902
The Company delivered oil sales in Q2 2022 of $44.8 million, the highest ever quarterly oil sales revenue;
Cash flow from operations for Q2 2022 was a record $40.7 million, nearly two times that of Q2 2021;
EBITDAX in Q2 2022 was very strong at $37.3 million, over double the EBITDAX of Q2 2021;
On May 25, 2022, the successful completion of a rights offering resulted in the Company issuing an additional 558,242,414 common shares, resulting in total gross proceeds (including FX hedging gains) of $30.15 million; and
The KRG has fully repaid the $41.7 million of overdue receivables for November 2019 to February 2020.
Atrush Operational Highlights
The 60MM bbl cumulative production milestone for Atrush was reached during June 2022;
The CK-16 well, spudded in March 2022, primary purpose is to serve as a water injection well, providing additional capacity and redundancy to CK-9, the first Atrush water injection well. The CK-16 well reached TD ahead of schedule on May 20, 2022, was completed over the Sarki reservoir in July 2022 and water disposal also commenced in July 2022;
Q2 2022 average production of approximately 37,125 bopd, 6% lower than Q2 2021 production of 39,538 bopd and within the 2022 guidance. CK-16, discussed above, was drilled as a way of de-bottlenecking production capacity in the latter part of 2022; and
Q2 2022 lifting costs per barrel of $5.29 is higher than Q2 2021 lifting costs of $4.49 per barrel. This increase is mainly due to higher diesel prices, but within our 2022 guidance which takes into account cost inflation.
Sarsang Acquisition
· On July 12, 2021, the Company announced that it signed an agreement with a subsidiary of TotalEnergies S.E. to acquire its affiliate (TEPKRI Sarsang A/S) which holds an 18% non-operated participating interest in the Sarsang Production Sharing Contract in Kurdistan. The Sarsang Acquisition has an effective date of January 1, 2021. The "change of control" of TEPKRI Sarsang A/S resulting from the Sarsang Acquisition is subject to regulatory approval in Kurdistan and exchange approval in Canada and at the date of this news release, the requisite Canadian exchange approval has been received and the approval documents required by the KRG have been signed, delivered, and accepted. They are currently awaiting KRG countersignatures.
OTHER
This information is information that ShaMaran is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on August 9, 2022 at 6:00 p.m. Eastern Time. Arctic Securities AS (Swedish branch) is the Company's Certified Advisor on Nasdaq First North Growth Market (Sweden), +46 844 68 61 00, certifiedadviser@arctic.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, BC, Aug. 9, 2022 /CNW/ - ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) (Nasdaq First North Growth Market (Sweden): SNM) today released its financial and operating results and related management's discussion and analysis (MD&A) for the three and six months ended June 30, 2022¹. View PDF
Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented "I am very pleased to report that in the second quarter of 2022 the Company delivered to its investors another record set of results. Sales grew by over 78% versus the same quarter in 2021 and cash flow from operations nearly doubled over the same period.
During Q2 2022, ShaMaran completed our rights offering, giving the opportunity to all eligible shareholders to participate in the continued success of the Company and creating additional flexibility for the Company to grow into the future. This rights offering was oversubscribed and demonstrates the continued support of the Company's shareholders to ShaMaran's business direction.
We continue with the Atrush drilling campaign with the production well CK-18 spudded in July 2022, this well is forecast to commence producing in Q4 of 2022. Also in July, the workover operations to increase production at the CK-17 production well began. This well is now back online.
We are awaiting final signatures on the Sarsang acquisition and look forward to that asset delivering additional high-quality barrels for the Company post completion. The acquisition is expected to close in Q3 2022.
The strong operational cash generation from Atrush and the Kurdistan Regional Government ("KRG") repayment of the overdue receivables from November 2019 means that our net debt position is well under one-time EBITDAX² at the end of the first half of 2022. In the current oil price environment, our market leading free cash flow yield is expected to grow significantly post the full ramp up of production at Sarsang, further strengthening the strategic flexibility of ShaMaran going forward."
Atrush Financial Highlights
Three months ended June 30
Six months ended June 30
USD Thousands¹
2022
2021
2022
2021
Revenue
44,844
25,208
83,680
45,814
Gross margin on oil sales
34,208
14,953
61,887
25,207
Net result
21,170
6,834
36,250
9,303
Cash flow from operations
40,720
22,739
64,482
28,023
EBITDAX
37,339
18,402
67,810
31,902
The Company delivered oil sales in Q2 2022 of $44.8 million, the highest ever quarterly oil sales revenue;
Cash flow from operations for Q2 2022 was a record $40.7 million, nearly two times that of Q2 2021;
EBITDAX in Q2 2022 was very strong at $37.3 million, over double the EBITDAX of Q2 2021;
On May 25, 2022, the successful completion of a rights offering resulted in the Company issuing an additional 558,242,414 common shares, resulting in total gross proceeds (including FX hedging gains) of $30.15 million; and
The KRG has fully repaid the $41.7 million of overdue receivables for November 2019 to February 2020.
Atrush Operational Highlights
The 60MM bbl cumulative production milestone for Atrush was reached during June 2022;
The CK-16 well, spudded in March 2022, primary purpose is to serve as a water injection well, providing additional capacity and redundancy to CK-9, the first Atrush water injection well. The CK-16 well reached TD ahead of schedule on May 20, 2022, was completed over the Sarki reservoir in July 2022 and water disposal also commenced in July 2022;
Q2 2022 average production of approximately 37,125 bopd, 6% lower than Q2 2021 production of 39,538 bopd and within the 2022 guidance. CK-16, discussed above, was drilled as a way of de-bottlenecking production capacity in the latter part of 2022; and
Q2 2022 lifting costs per barrel of $5.29 is higher than Q2 2021 lifting costs of $4.49 per barrel. This increase is mainly due to higher diesel prices, but within our 2022 guidance which takes into account cost inflation.
Sarsang Acquisition
· On July 12, 2021, the Company announced that it signed an agreement with a subsidiary of TotalEnergies S.E. to acquire its affiliate (TEPKRI Sarsang A/S) which holds an 18% non-operated participating interest in the Sarsang Production Sharing Contract in Kurdistan. The Sarsang Acquisition has an effective date of January 1, 2021. The "change of control" of TEPKRI Sarsang A/S resulting from the Sarsang Acquisition is subject to regulatory approval in Kurdistan and exchange approval in Canada and at the date of this news release, the requisite Canadian exchange approval has been received and the approval documents required by the KRG have been signed, delivered, and accepted. They are currently awaiting KRG countersignatures.
OTHER
This information is information that ShaMaran is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on August 9, 2022 at 6:00 p.m. Eastern Time. Arctic Securities AS (Swedish branch) is the Company's Certified Advisor on Nasdaq First North Growth Market (Sweden), +46 844 68 61 00, certifiedadviser@arctic.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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