ShaMaran reports strong Q1 results as EBITDA increases 104% year-over-year and $10MM bond repayment made ahead of schedule
VANCOUVER, BRITISH COLUMBIA, May 5, 2021 /CNW/ – ShaMaran Petroleum Corp. (“ShaMaran” or the “Company”) (SNM: TSXV and Nasdaq First North Growth Market (Sweden)) today released its financial and operating results and related management’s discussion and analysis for the three months ended March 31, 20201. Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented: “ShaMaran’s focus on financial discipline and reducing our debt has resulted in extremely positive results for the Company. Our Q1 EBITDA of $13.5 million is more than double that of the same period last