ShaMaran Petroleum Corp. (OTCMKTS:SHASF – Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 31,924 shares, a growth of 2,715.2% from the May 14th total of 1,134 shares. Based on an average daily trading volume, of 29,598 shares, the short-interest ratio is presently 1.1 days.
ShaMaran Petroleum Price Performance
Shares of SHASF traded down C$0.09 during mid-day trading on Tuesday, hitting C$0.10. 4,600 shares of the company’s stock were exchanged, compared to its average volume of 286,058. ShaMaran Petroleum has a fifty-two week low of C$0.00 and a fifty-two week high of C$0.21. The business’s 50 day moving average is C$0.13 and its two-hundred day moving average is C$0.16.
About ShaMaran Petroleum
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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