Board Change • Jun 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. President, CEO & Director Garrett Douglas Soden was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • May 27
ShaMaran Petroleum Corp., Annual General Meeting, Sep 22, 2026 ShaMaran Petroleum Corp., Annual General Meeting, Sep 22, 2026. Duyuru • Mar 06
ShaMaran Petroleum Corp. Announces Temporary Production Shut-In at Both the Atrush and Sarsang BlocksShamaran Petroleum Corp. Announces Temporary Production Shut-In At Both the Atrush and Sarsang Blocks On March 2, 2026, ShaMaran Petroleum Corp. announced a temporary production shut-in at both the Atrush and Sarsang blocks as a precautionary measure due to the regional security environment. HKN plans to restart production as soon as possible. Duyuru • Nov 17
ShaMaran Petroleum Corp. to Report Fiscal Year 2025 Results on Mar 04, 2026 ShaMaran Petroleum Corp. announced that they will report fiscal year 2025 results on Mar 04, 2026 Duyuru • Apr 11
ShaMaran Petroleum Corp., Annual General Meeting, Jun 23, 2025 ShaMaran Petroleum Corp., Annual General Meeting, Jun 23, 2025. Location: british columbia, vancouver Canada Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: US$0.03 (vs US$0.003 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0.03 (up from US$0.003 loss in 3Q 2023). Revenue: US$29.4m (up 133% from 3Q 2023). Net income: US$75.1m (up US$83.3m from 3Q 2023). Revenue is forecast to grow 43% p.a. on average during the next 3 years, compared to a 1.1% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Aug 11
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: US$22.6m (up 246% from 2Q 2023). Net loss: US$509.0k (loss narrowed 98% from 2Q 2023). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 38% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Reported Earnings • May 10
First quarter 2024 earnings released First quarter 2024 results: Revenue: US$22.6m (down 48% from 1Q 2023). Net loss: US$493.0k (down 105% from profit in 1Q 2023). Revenue is forecast to grow 40% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Nov 16
Now 48% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €0.039, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Meanwhile, the company became loss making. Duyuru • Nov 10
ShaMaran Petroleum Corp. to Report Fiscal Year 2023 Results on Mar 06, 2024 ShaMaran Petroleum Corp. announced that they will report fiscal year 2023 results on Mar 06, 2024 Reported Earnings • Nov 09
Third quarter 2023 earnings released: US$0.002 loss per share (vs US$0.024 profit in 3Q 2022) Third quarter 2023 results: US$0.002 loss per share (down from US$0.024 profit in 3Q 2022). Revenue: US$12.6m (down 68% from 3Q 2022). Net loss: US$8.20m (down 112% from profit in 3Q 2022). Revenue is expected to decline by 8.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 2.4%. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 14
ShaMaran Petroleum Corp. Announces a Partial or Complete Shutdown of Many Fields Located in the Kurdistan Region of Iraq ShaMaran Petroleum Corp. announced an operational and corporate update. The Company’s operations remain heavily impacted by the continued closure of the Iraq-Turkey pipeline (“ITP”), which has resulted in either a partial or complete shutdown of many fields located in the Kurdistan region of Iraq (“KRI”). ShaMaran understands that negotiations between officials in Iraq and Turkey about re-opening the ITP started in late June and will continue in the weeks ahead. The recent passage of the Iraq federal budget for 2023-2025, including a production commitment from the Kurdistan Regional Government ("KRG"), should enable regular monthly budget transfers from Iraq to the KRG, as well as normalization ofrelations between the region and the Federal Government of Iraq. The Company believes that a speedy re-opening of the ITP and resolution of the related outstanding commercial issues between international oil companies ("IOCs") and the KRG will benefit all parties involved. Since the ITP shutdown, ShaMaran and its operating partners have engaged in a number of initiatives aimed at cutting costs (both operating and capital expenditures) for the Company's two assets at Atrush and Sarsang. The current cost base run-rate has been reduced significantly below the original 2023 Work Plan and Budgets approved by the Ministry of Natural Resources of the KRG. All non-essential capital expendituresin the Atrush block have been cancelled or postponed for the remainder of the year, and a significant number of redundancies have been implemented by Taqa Atrush B.V., the Atrush operator, while retaining the capability to re-start field operations upon re-opening of the ITP and resolution of outstanding commercial issues. As announced by HKN Energy Ltd. ("HKN"), Sarsang production has continued since late April 2023 on a reduced, ad-hoc basis with sales to local refineries. HKN has cut remaining 2023 capital expenditures byover 75% with more opportunities for reduction being considered, alongside a significant and ongoing curtailment of operating expenditures and general and administrative expenses. ShaMaran is actively pursuing further cost-reduction initiatives and encouraging company's operating partners to pursue additional local sales to improve liquidity. The Company will also be engaging with its bondholders to seek additional balance-sheet flexibility given the current pipeline and payment situation in the KRI. Recent Insider Transactions • May 19
President & CEO recently bought €88k worth of stock On the 16th of May, Garrett Soden bought around 2m shares on-market at roughly €0.044 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Garrett's only on-market trade for the last 12 months. Reported Earnings • May 12
First quarter 2023 earnings released: EPS: US$0.003 (vs US$0.007 in 1Q 2022) First quarter 2023 results: EPS: US$0.003 (down from US$0.007 in 1Q 2022). Revenue: US$43.4m (up 12% from 1Q 2022). Net income: US$9.60m (down 36% from 1Q 2022). Profit margin: 22% (down from 39% in 1Q 2022). Revenue is expected to decline by 11% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 2.5%. Over the last 3 years on average, earnings per share has increased by 124% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 09
Full year 2022 earnings released: EPS: US$0.05 (vs US$0.006 in FY 2021) Full year 2022 results: EPS: US$0.05 (up from US$0.006 in FY 2021). Revenue: US$176.7m (up 73% from FY 2021). Net income: US$115.0m (up US$101.6m from FY 2021). Profit margin: 65% (up from 13% in FY 2021). Revenue is expected to decline by 7.9% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 8.0%. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth. Duyuru • Feb 18
Shamaran Petroleum Corp. Provides Production Guidance for the Full Year 2023 ShaMaran Petroleum Corp. provided production guidance for the full year 2023. For the period, the company expects Net Average Daily Production between 15 kbopd - 18 kbopd. Duyuru • Feb 13
ShaMaran Petroleum Corp., Annual General Meeting, Jun 22, 2023 ShaMaran Petroleum Corp., Annual General Meeting, Jun 22, 2023, at 08:00 Pacific Standard Time. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: US$0.03 (vs US$0 in 3Q 2021) Third quarter 2022 results: EPS: US$0.03 (up from US$0 in 3Q 2021). Revenue: US$39.8m (up 37% from 3Q 2021). Net income: US$66.4m (up US$66.4m from 3Q 2021). Revenue is expected to fall by 1.7% p.a. on average during the next 3 years compared to a 4.5% decline forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: US$0.01 (vs US$0.003 in 2Q 2021) Second quarter 2022 results: EPS: US$0.01 (up from US$0.003 in 2Q 2021). Revenue: US$44.8m (up 78% from 2Q 2021). Net income: US$21.2m (up 210% from 2Q 2021). Profit margin: 47% (up from 27% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 107%, compared to a 44% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: US$0.006 (vs US$0.067 loss in FY 2020) Full year 2021 results: EPS: US$0.006 (up from US$0.067 loss in FY 2020). Revenue: US$102.3m (up 81% from FY 2020). Net income: US$13.4m (up US$157.8m from FY 2020). Profit margin: 13% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Oil reserves Proven reserves: 9.514 MMbbls Combined production Oil equivalent production: 3.594 MMboe Over the next year, revenue is expected to shrink by 12% compared to a 49% growth forecast for the oil industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 27
Full year 2021 earnings released: EPS: US$0.006 (vs US$0.067 loss in FY 2020) Full year 2021 results: EPS: US$0.006 (up from US$0.067 loss in FY 2020). Revenue: US$102.3m (up 81% from FY 2020). Net income: US$13.4m (up US$157.8m from FY 2020). Profit margin: 13% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Oil reserves Proven reserves: 9.514 MMbbls Combined production Oil equivalent production: 3.594 MMboe Over the next year, revenue is expected to shrink by 12% compared to a 49% growth forecast for the oil industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 11
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$29.1m (up 89% from 3Q 2020). Net income: US$19.0k (up US$2.75m from 3Q 2020). Profit margin: 0.1% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS US$0.003 (vs US$0.006 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$25.2m (up 241% from 2Q 2020). Net income: US$6.83m (up US$21.5m from 2Q 2020). Profit margin: 27% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. Reported Earnings • May 07
First quarter 2021 earnings released: EPS US$0.001 (vs US$0.058 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$20.6m (up 3.9% from 1Q 2020). Net income: US$2.47m (up US$127.7m from 1Q 2020). Profit margin: 12% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 05
Full year 2020 earnings released: US$0.07 loss per share (vs US$0.006 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$56.7m (down 19% from FY 2019). Net loss: US$144.4m (loss widened US$131.0m from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue misses expectations Revenue missed analyst estimates by 41%. Over the next year, revenue is forecast to grow 59%, compared to a 31% growth forecast for the Oil and Gas industry in Germany. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations Revenue exceeded analyst estimates by 0.7%. Over the next year, revenue is forecast to grow 14%, compared to a 11% growth forecast for the Oil and Gas industry in Germany. Reported Earnings • Nov 07
Third quarter 2020 earnings released: US$0.002 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: US$15.4m (down 18% from 3Q 2019). Net loss: US$2.73m (loss widened 13% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 107% per year but the company’s share price has only fallen by 42% per year, which means it has not declined as severely as earnings. 
