ShaMaran Petroleum Corp. (OTCMKTS:SHASF) Sees Large Drop in Short Interest

ShaMaran Petroleum Corp. (OTCMKTS:SHASF) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 112,246 shares, a drop of 50.0% from the November 30th total of 224,403 shares. Based on an average daily volume of 1,121,282 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 1,121,282 shares, the days-to-cover ratio is presently 0.1 days.

ShaMaran Petroleum Stock Performance

OTCMKTS SHASF traded up C$0.01 on Friday, reaching C$0.18. The company’s stock had a trading volume of 1,100,263 shares, compared to its average volume of 145,491. The business has a 50-day moving average price of C$0.18 and a 200 day moving average price of C$0.17. ShaMaran Petroleum has a 52 week low of C$0.07 and a 52 week high of C$0.21.

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.