ShaMaran Petroleum Announces Partial Bond Repayment to Strengthen Financial Position

ShaMaran Petroleum ( (TSE:SNM) ) has provided an announcement.

ShaMaran Petroleum Corp. announced a partial repayment of its 12% senior unsecured bond, amounting to approximately $26.8 million, scheduled for January 30, 2025. Following this repayment, the outstanding bond amount will be reduced to approximately $173.1 million. This financial adjustment aims to manage the company’s net debt, which will stand at around $130.3 million post-repayment. This move reflects ShaMaran’s strategic steps towards strengthening its financial position and managing its liabilities effectively.

More about ShaMaran Petroleum

ShaMaran Petroleum Corp. is a Canadian independent oil and gas company focused on the Kurdistan region of Iraq. It holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block. The company is part of the Lundin Group of Companies and is listed on the TSX Venture Exchange in Toronto and Nasdaq First North Growth Market in Stockholm.

YTD Price Performance: -8.00%

Average Trading Volume: 387,762

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$327.3M

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