ShaMaran Petroleum Completes First Oil Cargo Lifting from Ceyhan Terminal

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

ShaMaran Petroleum Corp. has announced the successful completion of its first crude oil cargo lifting from the Ceyhan oil terminal in Türkiye, marking a significant milestone under its interim pipeline export agreements. This development is expected to enhance the company’s operational cash flow, with payments anticipated within 30 days and additional liftings planned. The move underscores ShaMaran’s strategic positioning in the oil export market and its ongoing commitment to leveraging its assets in the Kurdistan region.

The most recent analyst rating on (TSE:SNM) stock is a Buy with a C$0.50 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 Outperform.

ShaMaran Petroleum’s strong financial performance and attractive valuation are the primary drivers of its overall score. The company’s solid profitability and effective leverage management enhance its financial stability. Technical analysis indicates a neutral to slightly positive outlook, with no significant overbought or oversold signals. The absence of earnings call data and corporate events does not impact the score.

To see Spark’s full report on TSE:SNM stock, click here.

More about ShaMaran Petroleum

ShaMaran Petroleum Corp. is a Canadian independent oil and gas company primarily 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 listed on the TSX Venture Exchange in Toronto and Nasdaq First North Growth Market in Stockholm, and is part of the Lundin Group of Companies.

Average Trading Volume: 206,910

Technical Sentiment Signal: Buy

Current Market Cap: C$747.6M

For an in-depth examination of SNM stock, go to TipRanks’ Overview page.