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

by · The Markets Daily

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

ShaMaran Petroleum Stock Performance

OTCMKTS SHASF traded up C$0.01 during trading on Friday, hitting C$0.18. 1,100,263 shares of the stock traded hands, compared to its average volume of 145,491. ShaMaran Petroleum has a 12-month low of C$0.07 and a 12-month high of C$0.21. The firm has a 50-day simple moving average of C$0.18 and a 200-day simple moving average of C$0.17.

About ShaMaran Petroleum

(Get Free Report)

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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