08:00 AM EST, 01/27/2025 (MT Newswires) -- ShaMaran Petroleum ( SHASF ) earlier Monday said that it will repay a portion of its 12% senior unsecured bond on Jan. 30, lowering the total outstanding amount to about US$173.1 million.

The company expects to repay about $26.8 million at par pro rata to all bondholders utilizing the cash sweep mechanism under the amended and restated bond terms dated June 27, 2024.

ShaMaran had cash of about $58.4 million as of Friday.

Shares of the company closed down $0.005 or 4%, to $0.115 on Friday on the TSX Venture Exchange.