ShaMaran Petroleum Corp. (OTCMKTS:SHASF – Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 1,134 shares, a drop of 87.7% from the April 30th total of 9,232 shares. Based on an average daily volume of 38,007 shares, the days-to-cover ratio is currently 0.0 days.
ShaMaran Petroleum Stock Down 63.0%
Shares of OTCMKTS SHASF opened at C$0.05 on Thursday. ShaMaran Petroleum has a 12 month low of C$0.05 and a 12 month high of C$0.21. The firm’s 50 day simple moving average is C$0.14 and its 200-day simple moving average is C$0.16.
ShaMaran Petroleum Company Profile
ShaMaran Petroleum is a Canada?based upstream oil and gas company that focuses on the exploration, development and production of crude oil in the Kurdistan Region of Iraq. The company’s principal asset is a 27.6% working interest in the Atrush block, located near the Turkish border, where it partners with international firms and the Kurdistan Regional Government to develop and operate the Atrush oil field. Production began in late 2017, and crude is exported via pipeline to the Turkish Mediterranean port of Ceyhan.
Since its incorporation in 2007, ShaMaran has concentrated on building its position in under-explored hydrocarbon provinces.
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