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ShaMaran Petroleum (OTC:SHASF) Stock, Option Chain

ShaMaran Petroleum Corp is an oil development and exploration company. It is engaged in the business of developing and producing oil and gas. Along with its subsidiary, the company has an interest in the Atrush block, Kurdistan Region of Iraq. In addition, the group holds a participating interest in the Sarsang block of the Kurdistan region.

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Shamaran Reports Atrush Partners Receive Approval for Oilfield Development in Iraq&#39;s Kurdistan Region 

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SHASF: Recent Entrant In Kurdistan

SHAMARAN PETROLEUM CORP by Shamaran Petroleum Corporation

ShaMaran Petroleum Corp

ShaMaran Petroleum Corp. (OTC: <a class="ticker" href="/stock/shasf#OTC">SHASF</a>) is pleased to report that the Atrush partners have received approval from the Kurdistan Regional Government (KRG) for the first phase in the development of the Atrush Block in the Kurdistan Region of Iraq. The TAQA-operated Atrush Block, located 85 km northwest of Erbil, is expected to initially produce approximately 30,000 barrels of gross oil per day (bpd) with first oil expected by early 2015.The group plans to invest more than $300 million in Phase I in drilling three production wells and the construction of a central processing facility. Operator TAQA and its partners have an active drilling program on the Atrush Block and are continuing to appraise the area for further development. Subject to the outcome of this appraisal and KRG approval, the Phase 2 development is expected to include another 30,000 bpd production facility. TAQA and its partners will also evaluate the feasibility of producing associated natural gas for delivery to the domestic market.Discovered in 2011, the Atrush field is expected to provide long-term benefits to the region and the community. The approval of the Field Development Plan by the KRG
 <a href="http://www.benzinga.com/pressreleases/13/10/m3969736/shamaran-announces-atrush-partners-receive-approval-for-oilfield-develo">See full press release</a>

Shamaran Reports Atrush Partners Receive Approval for Oilfield Development in Iraq's Kurdistan Region 

Analysts at Canaccord Adams initiate coverage of ShaMaran Petroleum (PINK: SHASF) with a "speculative buy" rating. The target price for SHASF is set to C$0.75.
According to Canaccord Adams, “Kurdistan represents the classic dilemma for E&amp;P investors: astonishing technical and commercial upside accompanied by alarming political and fiscal risk. However, the ongoing dispute between the federal Iraqi government and the Kurdistan region of northern Iraq threatens to jeopardise their successful development, with the 2009 oil export freeze still in place.”
ShaMaran Petroleum is a recent entrant in Kurdistan, with an extensive portfolio of exploration assets. The group has acquired three licenses and is in the process of moving all three to be drill-ready as soon as possible.
<a href="http://www.benzinga.com/analyst-ratings">More Analyst Ratings here</a>

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