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ShaMaran Petroleum Corp V.SNM

Alternate Symbol(s):  SHASF

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.


TSXV:SNM - Post by User

Bullboard Posts
Comment by kinematikon May 01, 2014 11:13am
249 Views
Post# 22512519

RE:share value

RE:share valueBilad, I'm surprised but then again they gave us very little info in that release... We got a buy recommendation a couple of weeks ago with the targetprice 0,62 cad. If you use the consensus valuation of 2P reserves in kurdistan of 7,4 per barrel and half that for 2C that's what you get for our 2P/2C. I expect the recovery factor to be turned up after the retest of at3 and then more when we have started production. Today it's 18%.. Tawke and Taqtaq have twice and triple that I belive.. And then we have the upside in the field.. If geology is in our favour with faults beeing sealing Footwall could be loaded with as much or more oil than hangingwall. And then we have the unexplored Swara Tika extension wich have high api oil in Triassic and probably oil in the Jurassic to. Atrush is a complex field and it needs more wells and time. When lundin takes us to the exit it will be for alot more than 0,40 and 1$ i think. We will see in time, might be a bumpy ride tho. Imho
Bullboard Posts