ShaMaran Petroleum ( (TSE:SNM) ) has issued an announcement.
ShaMaran Petroleum Corp. has announced that a significant majority of its bondholders have approved amendments to its 12% senior unsecured bond, extending its maturity by two years to July 2029 and converting the mandatory quarterly cash sweep to voluntary. This approval is expected to provide ShaMaran with greater financial flexibility, potentially enhancing its operational stability and strategic positioning in the Kurdistan oil and gas sector.
Spark’s Take on TSE:SNM Stock
According to Spark, TipRanks’ AI Analyst, TSE:SNM is a Outperform.
ShaMaran Petroleum earns a solid score due to strong financial performance, bullish technical indicators, and strategic corporate actions that enhance growth prospects. Although the company faces challenges with high debt, recent efforts to manage liabilities and improve profitability are promising.
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 focused on the Kurdistan region of Iraq. The company holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block. It 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: 62.50%
Average Trading Volume: 417,729
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$569.2M
See more insights into SNM stock on TipRanks’ Stock Analysis page.