ShaMaran Acquires Additional 15-percent Stake in Atrush
ShaMaran Petroleum is currently focused on developing its Kurdistan property in Iraq.
Canadian oil explorer ShaMaran Petroleum (TSXV:SNM) has signed a deal with Marathon Oil a wholly owned subsidiary of Marathon Oil Corporation, to acquire an additional 15 percent working interest in the Atrush Block production sharing contract in the Kurdistan Region of Iraq.
As quoted from the press release:
The underlying agreements governing the development and operation of the Atrush block require that both the Minister of Natural Resources of the Kurdistan Governmental Authority as well as TAQA Atrush BV, the other owner of a participating interest in, and the operator of, the Atrush block, consent to the assignment of the participating interest from MOKDV to GEP. At the time, the MNR gave assurance of providing its consent to the assignment, however, TAQA unreasonably refused to provide its consent to the Acquisition.
As a result of TAQA’s unreasonable refusal to provide consent, Marathon re-issued an offer to acquire MOKDV, a corporate transaction which does not require TAQA consent, with the result being that the Company is now engaged in a new bidding process for the Marathon interest in the Atrush block. There is no assurance that any offer by the Company or GEP, if submitted, will result in the acquisition of the increased interest in the Atrush block.
In the meantime, the company is reviewing all available options.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1824.36 | -2.90 | |
Silver | 21.70 | +0.09 | |
Copper | 4.26 | +0.07 | |
Palladium | 2069.50 | +59.50 | |
Platinum | 959.00 | +14.00 | |
Oil | 115.31 | +1.11 | |
Heating Oil | 3.80 | +0.03 | |
Natural Gas | 8.29 | +0.34 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â