Simba Energy Inc. : Simba Energy Updates on Kenya Block 2A
(Thomson Reuters ONE) -
Simba Energy Inc. /
Simba Energy Inc. : Simba Energy Updates on Kenya Block 2A
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
March 2, 2012 Vancouver, British Columbia, Simba Energy Inc. (the "Company")
(TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF) is pleased to provide an update on its
assessment and exploration activities on Block 2A in Kenya and as highlighted by
the following:
* Work progressing ahead of schedule
* Two exploration leads already identified early in the study
* Positive industry developments in the region
* Tullow and Africa Oil to commence drilling in Kenya close to Block 2A
In addition to the project's Environmental Impact Assessment (EIA) being
completed, approved by management, and submitted to the oil ministry, the
Company has also been successful in obtaining all the past geophysical data
relevant to Block 2A which has allowed the work program already approved by the
ministry to be accelerated that includes a passive seismic survey now
anticipated to begin early April.
The reprocessing of select 2D lines has been completed while all other seismic
lines have been scanned and vectorized into digital format. Existing gravity
and magnetic data has also been reprocessed and is now being interpreted in
conjunction with the seismic work. Further, two exploration leads have already
been identified in these early stages of the study.
Robert Dinning, President & CEO remarks, "Having progressed this well early on
sure helps the Company gain some traction. While this passive seismic program
we plan to carry out will definitely help in deciding how we focus our next
efforts our technical team has done a great job in compiling and completing the
information to be considered for both a NI 51-101 technical report and Competent
Persons Report (CPR) that we anticipate will be completed in these coming
weeks. It sure is encouraging to see such positive results come from this
region in these past number of weeks. There's no question things are heating up
in the area so we're looking forward to maintaining our aggressive pace on the
ground in Kenya. Management and our technical staff have remained very active
evaluating other assets within the region for the Company to target and secure
so things are ramping up for us in other areas as well."
Additionally, the Company announces it has arranged, subject to the approval of
the TSX Venture Exchange, a non-brokered private placement of up to 37,500,000
units at $0.08 per unit for total gross proceeds of up to $3,000,000. Each unit
consists of one common share and one share purchase warrant exercisable into one
additional common share for two years from the date of issue at a price of $0.16
per share. The proceeds of the private placement will be used for advancing the
PSC's and general working capital. Finder's fees may be payable in whole or
part on the private placement in accordance with the policies of the TSX Venture
Exchange.
About Simba Energy Inc.
Simba Energy is a Vancouver, B.C. based oil and gas exploration company focusing
on underexplored overlooked basins in its pursuit of hydrocarbon opportunities
in Africa (currently Liberia, Mali, Guinea and Kenya). These regions have shown
increased promise for the development of new hydrocarbon deposits. The Company's
senior management team aims to leverage its expertise and affiliations to
pursue, secure and develop strategic assets that demonstrate high potential for
drilling and or production operations; and to do so in a manner of best
practices and to the betterment of those communities where it operates.
ON BEHALF OF THE BOARD
"Robert Dinning", President & CEO
For further information contact Simba Energy Inc., at 604-641-4450, or visit:
www.simbaenergy.ca , or info(at)simbaenergy.ca, or Mark Sommer, Toll Free:
1-855-777-4622.
We seek safe harbour.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Simba Energy Inc. via Thomson Reuters ONE
[HUG#1590826]
Unternehmensinformation / Kurzprofil:
Datum: 02.03.2012 - 09:01 Uhr
Sprache: Deutsch
News-ID 121002
Anzahl Zeichen: 4903
contact information:
Town:
Vancouver
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 211 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Simba Energy Inc. : Simba Energy Updates on Kenya Block 2A"
steht unter der journalistisch-redaktionellen Verantwortung von
Simba Energy Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
