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ShaMaran Petroleum Corp. - Oil Exploration and Development in Iraqi-Kurdistan


WKN: A0YC7D
0,035
29.12.15
Tradegate
-5,41 %
-0,002 EUR

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ShaMaran Petroleum Corp.

TSX.V: SNM >>> Info-Site der TMX: http://tmx.quotemedia.com/quote.php?qm_symbol=snm
OMX: SNM

WKN: A0YC7D
ISIN: CA8193201024

Unternehmensprofil laut website:
ShaMaran Petroleum Corp. is a Kurdistan-focused oil development and exploration vehicle with two ongoing projects in the region: the Atrush oil discovery, and the Taza exploration blocks. These projects are nearby and on trend to existing fields and recent discoveries.

Kurdistan lies within the northern extension of the Zagros Folded Belt. The area is highly underexplored and is currently undergoing a significant exploration and development campaign by over 30 mid to large size international oil companies.

ShaMaran Petroleum is a Canadian oil and gas company listed on the TSX Venture Exchange under the symbol "SNM" as well as NASDAQ OMX First North under the symbol "SNM".
http://www.shamaranpetroleum.com/s/Home.asp

Aktuelle Unternehmenspräsentation (März 2012):
http://www.shamaranpetroleum.com/i/pdf/CorporatePresentation…

Unternehmensbroschüre:
http://www.shamaranpetroleum.com/i/pdf/CompanyBrochure.pdf

Sehr detaillierte Informationen finden sich im Bereich "Investors":http://www.shamaranpetroleum.com/s/Investors.asp


Aktien und MC:
Anzahl Aktien (fully dilluted): 813,632,194 St. (Vgl. Homepage, Stand per 02.04.2012)

Marktkapitalisierung (in CAD bei SK von 0,22 vom 30.04.2012): ~179 Mio CAD


Operations:
ShaMaran hält derzeit Beteiligungen an zwei Blöcken, "Atrush" und "Taza".
http://www.shamaranpetroleum.com/s/Projects.asp?ReportID=367…Mit Wirkung zum 17.01.2012 hat das Unternehmen Lizenzrechte an zwei weiteren Blöcken ("Arbat" und "Pulkhana") zurückgegeben. Im Kern waren wohl technische Probleme für diesen Schritt ausschlaggebend.
(Siehe NR vom 18.01.2012: http://cnrp.marketwire.com/client/shamaran_petroleum/release…)


Zu Atrush:
- ShaMaran hält einen WorkingInterest von 26,8%
- Der Block liegt direkt nördlich des mittlerweile bekannten Shaikan-Feldes das von Gulf Keystone entdeckt wurde (Karte: http://www.shamaranpetroleum.com/i/pdf/Kurdistan-Map.pdf -Achtung, ca. 14MB-)
- Discovery für Atrush wurde in 2011 verkündet, Auszug aus der damaligen NR:
[...] Excellent flow rates were established totalling over 6,393 bopd from the three Jurassic horizons. The flow rate was limited by tubing sizes and testing equipment. Well analyses show that the intervals are capable of much higher rates when completed for production. The three tests in the middle and upper Jurassic reservoirs produced 26.5 API oil.[...]
http://cnrp.marketwire.com/client/shamaran_petroleum/release…
- Laut Unternehmenspräsentation S.7 wird mit einer möglichen flow rate jenseits der 10.000 bopd-Grenze gerechnet.
- Spud für ein appraisal-well soll in Q2 sein (Laut Unternehmenspräsentation S.7).
- "Potential production of around 8000 bopd (gross) by the end of 2012." (Unternehmenspräsentation S.9)

Zu Taza:
- ShaMaran hält einen WorkingInterest von 20%
- "Plans to drill an exploration well in Q2/Q3 2012 – PTD ~3400m MD." (Unternehemenspräsentation S. 12)
- "High flow rates in excess of 9000 bopd from ontrend Sarqala well (Jeribe Fm) provides optimism for main Jeribe target." (Unternehmenspräsentation S. 12)


Cash:
- zum 31.12.2011: ca. 49Mio USD (http://cnrp.marketwire.com/client/shamaran_petroleum/release…)
- zum 30.03.2012: US$10,000,000 Loan Financing (http://cnrp.marketwire.com/client/shamaran_petroleum/release…)
[Anmerkung: Die momentane Kassenlage dürfe um die 25Mio USD verringert sein, welche für die Rückgabe der beiden oben genannten Blöcke (NR vom 18.01.2012, s.o.) zu entrichten sind.]


Upward Potential:
- bzgl. Region: Unternehmenspräsentation S. 4
- bzgl. Atrush/Reserves: Unternehmenspräsentation S. 10


Management:
ShaMaran gehört zur Lundin Group (http://www.thelundingroup.com/s/Home.asp).
Ein Blick auf deren Track-Record (S. 17 der Unternehmenspräsentation) lohnt.


Politik:
- Subjektiv: Kompliziert und derzeit ein Hemmnis.
- Überblick: http://de.wikipedia.org/wiki/KurdistanUnternehmensbroschüre S.5:
- Moving in the right direction. Draft Petroleum Law in Parliament.
- Ongoing negotiations between Baghdad & Erbil for addressing issues.
- Entrance of “Majors” a significant development.


Aktuell:
- Annual Meeting am 26.06.2012 (http://cnrp.marketwire.com/client/shamaran_petroleum/release…)
- Current Activities: http://www.shamaranpetroleum.com/s/CurrentActivities.asp
- Quaterly Highlights: http://www.shamaranpetroleum.com/s/QuarterlyHighlights.asp


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Ich denke dass sich schon einige Leute Gedanken über SNM gemacht haben und möchte hier die Gelegenheit Nutzen diese auszutauschen.

Keine Handelsempfehlung oder Ähnliches - Recherche rein zum Zwecke des Informationsaustausch.
Es gibt eine NR vom 19.05., im folgenden ist der Inhalt ersichtlich. Bitte beachten: aus Darstellungsründen sind die Tabellen entfernt - gekennzeichnet mit "[...]" an den Stellen innerhalb des Textes. Die NR mit diesen Tabellen ist hier jederzeit einsehbar: http://cnrp.marketwire.com/client/shamaran_petroleum/release…

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News Releases

MAY 19, 2012 - 00:02 ET
ShaMaran Q1 2012 Financial and Operating Results


VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 19, 2012) - ShaMaran Petroleum Corp. (TSX VENTURE:SNM)(OMX:SNM) ("ShaMaran" or the "Company") is pleased to announce its financial and operating results for the three months ended March 31, 2012.

Highlights
•The Appraisal Work Program and Budget on the Atrush Block has been approved by the KRG. The Program consists of 3D seismic and a number of appraisal wells and studies.
•3D seismic acquisition on the Atrush Block is in progress and on schedule to be completed by the end of June 2012. Preparations for the Atrush-2 appraisal well are near complete and well spud is expected by end of May 2012. Planning for an Early Well Test facility and a third appraisal well is also underway.
•Location construction and contracting is on schedule for a June 2012 spud of the Taza-1 exploration well. The Romfor-101 drilling rig has been contracted to drill the well. The well is targeting the proven regional Tertiary reservoirs of the Miocene Jeribe formation which is confirmed as oil-bearing and highly productive at the on trend Sarqala-1 well, the Miocene Euphrates formation and the Oligocene Kirkuk Group.
•The Company signed final binding agreements with the KRG in January 2012 to relinquish the 60% working interests previously held in each of the Arbat and Pulkhana Production Sharing Contracts ("PSCs"). An amount of $25 million was paid in January 2012 to the KRG as relinquishment fees and the agreements relieve the Company of any further obligations under these PSCs. Disappointing testing results from the Pulkhana 9 well led the Company to this decision.
•In February 2012 the Company received a Detailed Property Report ("the Report") from its independent qualified resources evaluator, McDaniel & Associates Consultants Ltd. The Report is as at December 31, 2011 and includes 124,782 Mboe as best estimate of Gross Estimated Contingent Resources and 87,910 Mboe as the unrisked best estimate of Gross Estimated Prospective Resources net to ShaMaran for the Company's two assets. These estimates are exclusive of amounts relating to the Pulkhana and Arbat Blocks which were relinquished in January 2012.
•On April 2, 2012 the Company secured short term financing of $10 million from two related parties.
•The Company reported a net loss of $26.1 million for the quarter ended March 31, 2012 (2011: $0.5 million net income). The cash balance of the Company was $5.7 million as at March 31, 2012 (December 31, 2011: $49.1 million).

Financial and Operating Results for the three months ended March 31, 2012

(Unaudited: Expressed in thousands of United States Dollars)

During the three months ended March 31, 2012 the Company continued its exploration campaign in respect of the Taza and Atrush Block petroleum properties in Kurdistan constituting the continuing operations of the Company. These properties currently generate no revenues. The net loss in the quarter was driven by one-time relinquishment fees totaling $25 million which were relating to the relinquishment of the Pulkhana and Arbat Block PSCs paid to the KRG in January 2012.

[...]

The cash position of the Company decreased by $43.4 million during first quarter of 2012. The main reasons for the decrease in the cash position was the payment to the KRG of $25 million in relinquishment fees and the outflow of funds to decrease accounts payable and accrued expenses by$15.6 million. In addition the Company spend $2.4 on its continuing exploration activities in Kurdistan. The Company received $10 million in short term financing subsequent to the reporting period on April 2, 2012 and has a number of additional financing possibilities which will be pursued as required. The Company is confident that it will obtain the resources sufficient to satisfy its contractual obligations and commitments under the agreed budgets.

[...]

Outlook

The outlook for the year 2012 for the two blocks which the Company holds interests in Kurdistan is as follows:

Atrush Block

The operating company (GEP) had completed half of the planned initial 275 square kilometers for the 3D seismic acquisition program by the end of December 2011 (Phase 1) when operations were suspended because of winter weather. Subsequently planned 3D coverage has been expanded to cover a total of 310 square kilometers. Operations to acquire the balance portion of the 3D Seismic (Phase Two) recommenced during the first quarter 2012 and are on schedule to be completed by the end of second quarter 2012. Preparations for the Atrush-2 are near complete. The rig contract was awarded to DQE International and the well spud is expected before the end of May 2012. Atrush-2 is estimated to take 65 days and has a planned total depth of 1,750m. The well is situated approximately 3.5 km east of the Atrush-1 well and is planned as an appraisal of the Jurassic oil discovery.

The processed Phase One 3D seismic will be used to select a drilling location for Atrush-3. Tendering is also in progress for an Early Well Test facility (EWT) that is planned to be commissioned before the end of the year 2012. GEP also plans to re-enter and recomplete the Atrush-1 well for production so that it can be connected to the EWT along with Atrush-2. The complete processed 3D seismic from both phases will be used to select drilling candidates for the 2013 drilling campaign.

Taza Block

Preparations for drilling the first Taza exploration well continued during the first quarter. The surface location for the well was approved and civil engineering works for site access and well site are under way. Work is on schedule for the planned commencement of drilling operations before the end of June 2012. The Taza-1 well is estimated to take 102 days, has a planned total depth of 3,250m and is targeting proven regionally productive Tertiary reservoirs of the Jeribe, Euphrates & Kirkuk Group.

New Ventures

As part of its normal business the Company continues to evaluate new opportunities in the region

[...]
Zitat von motz1: [...]

Highlights
•The Appraisal Work Program and Budget on the Atrush Block has been approved by the KRG. The Program consists of 3D seismic and a number of appraisal wells and studies.
•3D seismic acquisition on the Atrush Block is in progress and on schedule to be completed by the end of June 2012. Preparations for the Atrush-2 appraisal well are near complete and well spud is expected by end of May 2012. Planning for an Early Well Test facility and a third appraisal well is also underway.
•Location construction and contracting is on schedule for a June 2012 spud of the Taza-1 exploration well. The Romfor-101 drilling rig has been contracted to drill the well. The well is targeting the proven regional Tertiary reservoirs of the Miocene Jeribe formation which is confirmed as oil-bearing and highly productive at the on trend Sarqala-1 well, the Miocene Euphrates formation and the Oligocene Kirkuk Group.

[...]



U.a. obige Punkte lassen m.E. einen interessanten News-Flow über die kommenden Wochen erwarten:

Atrush-Block
- Spud Appraisal-Well Ende Mai - incl. early well testing
- 3D-seismics fertiggestellt bis Ende Juni

Taza-Block
- Rig gesichert
- Bohrbeginn im Juni
Mit einer kleinen Verzögerung hier die aktuelle NR vom 05.07.

Atrush:
- Appraisal-well startete am 23.05. und sollte 65 Tage dauern. Demnach müsste die TD nun jeden Tag erreicht sein
- 3D-Seismic soll bis Ende Juli, also dieser Tage, abgeschlossen sein

Taza:
- Bohrbeginn war am 03.07.
- Voraussichtliche Dauer sind etwa 100 Tage, Zieltiefe somit voraussichtlich Mitte/Ende Oktober erreicht

--------------------------------------

JUL 5, 2012 - 02:09 ET

Shamaran Spuds Taza Well

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 5, 2012) - ShaMaran Petroleum Corp. (TSX VENTURE:SNM)(OMX:SNM) ("ShaMaran" or the "Corporation") is pleased to provide an operational update on the Atrush and Taza blocks.

Taza

ShaMaran reports that the Taza-1 well, located in the Taza PSC in the Kurdistan Region of Iraq, commenced drilling on July 3, 2012.

The Taza prospect is located approximately 80 kilometres southwest of the city of Sulaymaniyah. The primary objectives are Miocene and Oligocene carbonates of the Jeribe and Euphrates Formations.

The planned depth of the well is 3,250 metres and estimated to take approximately 100 days to drill.

ShaMaran holds a 20% participating interest in the Taza Block. Oil Search (Iraq) Limited holds a 60% participating and is the Operator of the Block. The Kurdistan Regional Government (KRG) has the remaining 20% interest in the block which is carried by ShaMaran and Oil Search.

Atrush

Further to the spud of the Atrush-2 ("AT-2") appraisal well on May 23, 2012, operations have proceeded ahead of schedule. The well is expected to take approximately 65 days to reach a total depth of 1,750 metres. The well is situated 3.1 kilometres east of the discovery well.

Meanwhile, 3D seismic acquisition is continuing in the eastern part of the Atrush block on schedule for completion in July.

The Atrush Block is operated by the joint-venture company General Exploration Partners Inc. ("GEP") which holds an 80% working interest in the Block. Aspect Holdings, LLC, through its Aspect Energy International LLC subsidiary, has a two-thirds interest and ShaMaran Petroleum Corp. through its wholly owned subsidiary, ShaMaran Ventures BV, holds a 33.5% interest in GEP, thereby a 26.8% indirect net interest in Atrush. Marathon Petroleum KDV B.V., a wholly owned subsidiary of Marathon Oil Corporation (NYSE:MRO), holds a 20% interest in the block.

ShaMaran President and CEO, Pradeep Kabra, commented, "We are very pleased with the progress made on both projects, particularly spudding the Taza exploration well which is targeting a prospect with significant potential. We are looking forward to the results of the Atrush appraisal well which should be completed in the next few weeks."

http://cnrp.marketwire.com/client/shamaran_petroleum/release…
Heute mit interessantem Volumen: es wurden über 9,8 Mio Aktien gehandelt, darunter ein Block mit 7,5 und einer mit 1,3 Mio Stück. Im Durchschnitt waren es in letzter Zeit (stark schwankend) etwa 0,5 Mio Stück.
Zu Taza gibt es ein Update des Operators Oilsearch:
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"DRILLING REPORT – 2 August 2012
WELL NAME: Taza 1, Kurdistan Region of Iraq

Oil Search reports that as at 06:00 hours KRI time on 2 August, the Taza 1 well was at a depth of 897 metres and drilling ahead in a 17-½” hole. Drilling progress for the week was 436 metres.
The Taza prospect is located approximately 80 kilometres southwest of the city of Sulaymaniyah. The primary objectives are Miocene and Oligocene carbonates of the Jeribe and Euphrates Formations."

http://www.oilsearch.com/Media/docs/120802%20Drilling%20Repo…
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Was mich derzeit mehr umtreibt ist der Stand bei Atrush-2. Hierzu ist für mich im Moment nichts zu finden.
Es sollte nicht mehr all zu lange dauern :look:.
Die politisch schwierige Situation besteht weiterhin. Verkürzt: Irak/Bagdad vs Kurdistan/Erbil wegen Zuständigkeiten/Befugnissen (=Geld).

Positiv zu werten sind Majors, die in letzter Zeit vermehrt in Blöcke in Kurdistan eintreten. Sie tun dies ungeachtet der Irakischen Haltung, eben diese Unternehmen mit Sanktionen hinsichtlich der "irakischen" Liegenschaften zu belegen.

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Iraq blacklists Chevron for Kurdish oil deals

By Ahmed Rasheed

BAGHDAD | Tue Jul 24, 2012 5:47pm EDT

BAGHDAD (Reuters) - Iraq hit out at Chevron Corp (CVX.N) over its just-signed oil contract with Kurdistan, barring it from any oil agreements with the central government in a move meant to deter other companies from dealing directly with the semi-autonomous northern region.

Baghdad has long held that contracts signed by the Kurdistan Regional Government (KRG) are illegal, and last year Exxon Mobil Corp (XOM.N) aroused its anger by striking a deal with the region while also running a project at a supergiant oilfield in the south.

Baghdad retaliated by banning Exxon from an exploration tender in May.

Chevron followed its larger rival into Kurdistan last week, and Baghdad's action on Tuesday will be closely watched by other oil majors, such as France's Total (TOTF.PA), which is widely expected to be the next to make a Kurdish oil play.
[...]

http://www.reuters.com/article/2012/07/24/us-iraq-chevron-id…


Gazprom Neft signs production sharing deals with Kurdistan

MOSCOW | Wed Aug 1, 2012 12:34pm EDT

MOSCOW Aug 1 (Reuters) - Gazprom Neft, the oil arm of Russian gas export monopoly Gazprom, said it had acquired interests in two blocks in Iraq's Kurdistan region after similar moves by international rivals angered the central Iraqi government in Baghdad.

Gazprom Neft will take 40 percent of the Garmian block, putting it on a parity footing with Canadian operator WesternZagros, and 80 percent of the Shakal block. The regional government of the semi-autonomous region will keep 20 percent in both.

Gazprom Neft estimated the blocks contained potential resources of about 3.6 billion barrels of oil equivalent.

It already has a project in Iraq, near the Iranian border, where it expects to produce about 15,000 barrels per day from 2013.

"Based on our positive experience in cooperation with the Republic of Iraq, where we are already participating in the development of Badra field, the company had decided to expand its presence in this country," Gazprom Neft First Deputy Chief Executive Vadim Yakovlev said in a statement.

"Carrying out these projects will allow Gazprom Neft to increase its input in Iraq's plans to boost oil production, to gain additional experience in this country and to expand its presence abroad," he added.

http://www.reuters.com/article/2012/08/01/russia-gazpromneft…


Iraq: Total acquires interest in two exploration Blocks in Kurdistan Region of Iraq

Paris, July 31, 2012: Total announced the signature of a Farm-in Agreement in two exploration blocks in Kurdistan Region of Iraq.

Total has completed an acquisition of 35% interest in two Blocks, Harir and Safen, held by Marathon Oil KDV B.V., a wholly-owned subsidiary of Marathon Oil Corporation (NYSE: MRO). Total will be the operator of the development of the Safen Block. The Blocks cover areas of respectively 705 and 424 square km.

Total confirms its commitment to contribute to the development of the oil Industry in Iraq and is looking for new opportunities.

http://www.total.com/en/press/press-releases/consultation-20…


Big Oil's Kurdish Ambush

Total , Gazprom, Chevron and Exxon Mobil have all ignored Baghdad's directive and signed deals with the Kurdistan Regional Government. What does it mean for Iraq's energy sector?
Kurdistan's oil sector got a major boost in the space of a few weeks when Russia's Gazprom and France's Total followed in the footsteps of American giants Chevron and Exxon Mobil.


Baghdad insists that it should have the final say in all hydrocarbon deals and any contract signed with the semi-autonomous Kurdistan Regional Government (KRG) will considered illegal under Iraqi law.

The directive seems to have fallen on deaf ears.
[...]

http://www.zawya.com/story/Big_Oils_Kurdish_Ambush-ZAWYA2012…

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Chevron, Gazprom, Exxon, Total, ... über kurz oder lang sollte eine Lösung zu möglich sein.
Anlässlich der Hauptversammlung vom 25.06. wurde eine Juni-Präsentation veröffentlicht:
http://www.shamaranpetroleum.com/i/pdf/CorporatePresentation…

Man will sich nun durch das appraisal-drilling Atrush-2 auf den Ölfund in diesem Block fokussieren. Es sind aussagekräftige/maximale Flowtest-Daten gewonnen werden (AT-1 Flowtest war durch Testequipment auf 6.000bopd limitiert, interne Annahmen lassen auf über 10.000bopd schließen) und man strebt für die early production weiterhin das erste Quartal an. Angestrebt sind zunächst 8.000bopd.
Sich bietende Chancen in Bezug auf weitere Liegenschaftsanteile will man nutzen.
Antwort auf Beitrag Nr.: 43.457.729 von motz1 am 04.08.12 22:02:10wieviel barrel ca hat man hier denn gefunden?gibt es da schon einige zahlen bzw welches potenzial besteht hier?
Antwort auf Beitrag Nr.: 43.459.136 von kl_hase am 05.08.12 21:00:29Hi kl_hase,
das Unternehmen spricht von "major" discovery, in deren Präsentation (Link wie im obigen Post #8) gibt es auf slide 11 eine Übersicht zu den Resourcenannahmen.
Auszug: "(Mean MMBOE): 513 Contingent + 146 Prospective."

Gemeinsam mit dem Appraisal soll dann weiteres FlowTesting erfolgen, wobei die Early Well Testing Facility Kapazität für bis zu 30.000bopd hat.

Sollte die Einschätzung stimmen, dürfte sich eine bemerkbare Anhebung der resource ergeben.
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