Since Shamaran is part of The Lundin Group (a hugely successful Swedish family, starting, owning and selling many companies in the oil business). There is normally more of a buzz around Lundin's companies in Sweden than in Canada. Today, the highly respected, and very serious stock owner interest organisation Aktiespararna came out with this news story in Swedish, I'll run it through Google Translate for you:
ShaMaran may have additional resources
The oil company ShaMaran Petroleum will leave a reserve update, which is implemented by McDaniel & Associates, including new drilling results for the first quarter of 2013. There is potential for additional resources in the update, compared to the previous level of 513 million barrels of contingent resources and 146 million barrels prospectus resources.
It appears from a recent company presentation.
After Atrush field declared commercial in November 2012 prepares the new operator TAQA field development plan. The evalutation-/development well Atrush-3 prepared with drilling starting in the first quarter of 2013 and another two well drilling is budgeted for 2013. The first production from the field is expected this year.
ShaMaran Petroleum further states that the work in 2013 is funded in full and that the company has the potential to take out a loan to fund field development. Atrush-assets seen as a solid growth base and the company is exploring new opportunities in the Middle East and North Africa, according to the presentation.