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The latest update is out from ShaMaran Petroleum ( (TSE:SNM) ).
ShaMaran reported a sharp improvement in 2025 financial performance, with fourth-quarter revenue up 57% year on year to $54.7 million and full-year revenue up 42% to $154.9 million, driven by the resumption of international oil exports at higher crude prices and increased working interest in the Atrush block. Gross margins and adjusted EBITDAX also rose strongly, although operating cash flow declined due to the timing of export receipts and higher spending on drilling, debottlenecking and maintenance across its Kurdish assets.
Operationally, debottlenecking lifted Atrush crude handling capacity to 40,000 barrels per day, and the company plans to drill additional wells to fill that capacity, subject to regional security conditions. ShaMaran has repaid $56.1 million of its corporate bond and a $15.6 million related-party loan while maintaining net debt just above $100 million, and it is seeking shareholder approval to shift its primary listing from Toronto to Oslo and re-domicile to Bermuda in a bid to broaden its investor base, increase liquidity and streamline future capital returns as interim export agreements in Iraq are extended and payment certainty improves.
The most recent analyst rating on (TSE:SNM) stock is a Hold with a C$0.26 price target. To see the full list of analyst forecasts on ShaMaran Petroleum stock, see the TSE:SNM Stock Forecast page.
Spark’s Take on TSE:SNM Stock
According to Spark, TipRanks’ AI Analyst, TSE:SNM is a Neutral.
ShaMaran Petroleum’s stock score is primarily influenced by its mixed financial performance, with strengths in operational efficiency but challenges in revenue growth and profitability. Technical analysis shows a stable upward trend, while valuation metrics indicate the stock may be overvalued. The absence of earnings call insights and corporate events limits further analysis.
To see Spark’s full report on TSE:SNM stock, click here.
More about ShaMaran Petroleum
ShaMaran Petroleum Corp. is an independent oil and gas company focused on the Kurdistan Region of Iraq, where it holds interests in the Atrush and Sarsang blocks. The company produces and markets crude oil, with sales now primarily tied to international pricing following the reopening of the Iraq–Türkiye export pipeline, and targets institutional and international investors through listings in Toronto, Stockholm and a proposed move to Oslo.
Average Trading Volume: 224,170
Technical Sentiment Signal: Buy
Current Market Cap: C$675.7M
See more insights into SNM stock on TipRanks’ Stock Analysis page.