ShaMaran Petroleum Corp. (SNM.V) on Saturday said first-quarter net loss from continuing operations was $26.11 million compared to profit of $540 thousand last year.
Net loss totaled $26.15 million in comparison with $462 thousand profit in the previous year.
This year, the company incurred $248 thousand in impairment losses as well as $25.73 million related to relinquishment costs.
The company noted that the appraisal work program and budget on the Atrush Block has been approved by the KRG and that 3D seismic acquisition on the Atrush Block is on schedule to be completed by the end of June.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.