ShaMaran Petroleum Corp V.SNM

Alternate Symbol(s): SHASF

Energy Oil & Gas E&P

ShaMaran Petroleum Corp. is a Canadian independent oil and gas company focused on the Kurdistan region of Iraq (KRI). The Company is engaged in the business of oil and gas exploration and production and holds interests in production sharing contracts. The Company indirectly holds an 18% working interest (22.5% paying interest) in the Sarsang Block in the KRI through its wholly owned subsidiary ShaMaran Sarsang A/S and a 50% working interest (66.67% paying interest) in the Atrush Block in KRI through its wholly owned subsidiary General Exploration Partners, Inc. (GEP). The Company is focused on developing the considerable reserve and production upside potential of its projects.

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ShaMaran Petroleum Corp

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Comment by kanerfalkon Oct 26, 2011 7:06am

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Post# 19181812

RE: Private Placement

They had around $ 30 millions in the beginning of October, the $ 50 millions is needed to fund Atrush 2, Pulkhana 10 and probably Arbat- 1 then they'll probably need another $ 50 mln to fund Atrush-3, Taza-1 and Arbat-2. Don't know about the costs for the EPF's.

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