Source: ShaMaran Petroleum Corp.
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  • ShaMaran Petroleum (SNM) has paid bondholders the  interest payment due on its senior unsecured bonds
  • ShaMaran has purchased and retired a further US$5.05 million of its bonds
  • ShaMaran Petroleum Corp. is a Canadian oil and gas company with an interest in the Atrush Block in northern Iraq
  • ShaMaran Petroleum Corp. (SNM) opened trading at C$0.06 per share

ShaMaran Petroleum (SNM) has paid bondholders the July interest payment due on its 12% senior unsecured bonds due 2023.

In addition, ShaMaran has purchased and retired a further US$5.05 million of its bonds. The current outstanding amount of its bonds is US$180 million.

ShaMaran President and Chief Executive Officer Dr. Adel Chaouch said,

“Following the January 2021 amendment to our bond terms we are pleased to have had free cash available in the second quarter of this year to purchase US$5.05 million of our bonds in the market at commercially attractive rates.”

ShaMaran Petroleum Corp. is a Canadian oil and gas company with an interest in the Atrush Block production sharing contract. The Atrush Block is located in the Kurdistan region of northern Iraq.

ShaMaran Petroleum Corp. (SNM) opened trading at C$0.06 per share.

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