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ShaMaran Petroleum ( (TSE:SNM) ) has provided an announcement.
ShaMaran Petroleum Corp. announced interim agreements with the Kurdistan Regional Government, the Government of Iraq, and several International Oil Companies to restart oil exports via the Iraq-Türkiye pipeline. These agreements, based on the Iraqi Budget Law amendment, will allow oil exports from the Kurdistan Region of Iraq to resume, benefiting both the region and federal Iraq by ensuring stability and continued investment. The agreements also address compensation for production and transportation costs and ongoing discussions about outstanding accounts receivable from past oil sales. Production at ShaMaran’s Sarsang Block has returned to full capacity, and the Atrush Block is producing approximately 35,000 barrels of oil per day.
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 stock score. The company’s effective leverage management and robust cash flow generation enhance its financial stability. Technical indicators suggest a positive trend, although short-term caution is advised due to a slightly negative MACD. The absence of earnings call and corporate events data 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 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 and Nasdaq First North Growth Market, and is part of the Lundin Group of Companies.
Average Trading Volume: 182,200
Technical Sentiment Signal: Buy
Current Market Cap: C$773.3M
Learn more about SNM stock on TipRanks’ Stock Analysis page.