Short Interest in ShaMaran Petroleum Corp. (OTCMKTS:SHASF) Drops By 87.7%

ShaMaran Petroleum Corp. (OTCMKTS:SHASF) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 1,134 shares, a decrease of 87.7% from the April 30th total of 9,232 shares. Based on an average trading volume of 38,007 shares, the short-interest ratio is currently 0.0 days.

ShaMaran Petroleum Stock Down 33.3%

OTCMKTS:SHASF traded down C$0.05 on Friday, hitting C$0.10. The stock had a trading volume of 23,450 shares, compared to its average volume of 309,198. The business’s fifty day moving average is C$0.14 and its 200 day moving average is C$0.16. ShaMaran Petroleum has a 52 week low of C$0.00 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.