Simba Energy Aquires Controlling Interest of PSC for Blocks 1 & 2 Onshore Guinea
July 27, 2011, Vancouver, B.C., Canada. Simba Energy Inc. (“Simba” or the “Company”) (TSXV: SMB, Frankfurt: GDA, OTCCBB: SMBZF), announces it has signed an Agreement to acquire a 60% interest in the PSC (Production Sharing Contract) for Blocks 1 & 2 comprising 12,000 square kilometres onshore in the Republic of Guinea’s Bove basin.
Under terms of the agreement, Summa Energy is transferring to Simba Energy a 60% interest in the PSC covering Blocks 1 & 2. Simba will provide 100% funding of all program costs in the first year, and 60% of all program costs thereafter.
The finalization of this agreement is subject to receipt of approval from the Republic of Guinea’s Minister of Mines and Geology (Le Ministere des Mines et de la Geologie). A work program, including planning for commencement of a seismic program, will proceed immediately after receipt of final approval from the Minister of Mines. Simba recently conducted a detailed review of technical data on Blocks 1 & 2 and concluded a significant potential for oil and gas exists.
Highlights of the potential of the Bove basin include:
- Migration and communication are demonstrated by the presence of seeps, large accumulations of bio-degraded heavy oil at surface, along with light oil staining in earlier (historical) core and samples
- A detailed laboratory analysis of samples from two wells carried out in 1989 by Beicip (France) indicated a level of maturity as mature to over mature and a source that is likely oil prone
- Silurian shales, which are the major source rock in all North African basins, are present
- The basin has three known reservoir systems with fair to good reservoir parameters in both clastic sediments and carbonates
- A gravity and magnetometer survey carried out over the entire basin in 1972 by Texas Geophysical Company indicates sediments were present up to a depth of 4,000 metres and identified numerous anomalies, the magnitude of which remain of great interest
- Most of the basin’s wells to date were drilled prior to the 1960’s and were too shallow to fully evaluate the section
- The tectonic style of the Bove basin is such that structures are formed that produce traps capable of pooling large reserves
In an area 100 to 200 kilometres offshore from Blocks 1 & 2 Hyperdynamics Corporation (Houston, TX, NYSE Amex: HDY) recently carried out extensive 2D & 3D seismic surveys and now plans to drill the first of a two well program later this year.
Robert Dinning, President & CEO of Simba said, “This agreement is a major milestone for the Company, and further supports our strategy of pursuing underexplored onshore basins in Africa. The Company also advises it has completed PSC applications with other jurisdictions in the region, and expects to close these very shortly. When completed the Company will possess an exciting portfolio of exploration properties in addition to the PSC for Blocks 1 & 2 just acquired in Guinea”.
To view a map detailing the geographic scope of this acquisition, please visit our website or select the following link: http://www.simbaenergy.ca/images/simba_blocks1and2_guinea.pdf
James Dick, P.Geol., P.Eng., Director of the company and Qualified Person in accordance with National Instrument 51-101, has reviewed and approves the technical disclosure in this news release.
Finder’s Fees on this acquisition will be paid in accordance with TSX Venture Exchange policy.
Simba Energy Inc, Finalizing Onshore Liberian PSC Application
July 06, 2011, Vancouver, B.C., Canada. Simba Energy Inc. (the “Company”) (TSX-V: SMB, Frankfurt: GDA, OTCBB: SMBZF), has received an official invitation from the National Oil Company of Liberia (NOCAL) to meet in Monrovia, Liberia during the week of July 18, 2011 to commence the final negotiation process for Simba Energy Inc.’s formal Production Sharing Contract (PSC) application. A Draft Production Sharing Contract (PSC) has been received from NOCAL and Simba Energy is currently reviewing this draft PSC and will be in attendance the week of July 18, 2011 to finalize discussions which it anticipates will lead to the issuance of the onshore PSC.
Pursuant to our previous announcement in October 2010, Simba Energy submitted its application to the National Oil Company of Liberia (NOCAL) to convert its current Hydrocarbon Reconnaissance Permit (NR-001) into a Production Sharing Contract (PSC). Since then, the Company has had extensive meetings with NOCAL to review, advance, and finalize this PSC application. During this period there have been changes to management and the board of directors of NOCAL, as well as a moratorium imposed by the Government on new (offshore) PSC applications. The Company is pleased to confirm it has successfully completed all required negotiations and discussions with NOCAL and will be in attendance the week of July 18, 2011 to finalize discussions which it anticipates will lead to the issuance of the onshore PSC.
The formal letter received by Simba Energy from NOCAL also stated that the delay in reaching the final negotiation process was due mainly to the lack of a “Model Production Sharing Contract for onshore oil” along with the reorganization within NOCAL`s offices.
Mr Robert Dinning, President and CEO is quoted “This invitation and meeting represents the final step in the process for the Company’s application to convert its current exploration license into a PSC. We look forward to finalizing this application process so we can begin our planned activities and continue to contribute socially to the communities within our area of work.”
About Simba Energy Inc.
Simba Energy is a Vancouver, B.C. based oil and gas Exploration Company strategically focusing on underexplored overlooked basins in its pursuit of hydrocarbon opportunities in Africa (currently Liberia, Mali, Ghana). This region has shown increased promise for development of new hydrocarbon deposits. On behalf of its shareholders the Company’s Senior Management Team have endeavoured to leverage their 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 we work.
ON BEHALF OF THE BOARD
“Robert Dinning”, President & CEO
For further information please contact Simba Energy Inc., Mark Sommer, Toll Free 1-855-777-4622 or visit: www.simbaenergy.ca or www.simbaenergy.ca/commercial.html or email info@simbaenergy.ca
We seek safe harbour.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the exploration merits of the property and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating commodity prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable securities legislation.
Simba Energy Inc. has granted stock options to its directors, officers and consultants, under its stock option plan
Vancouver, BC, Canada – April 20, 2011 – Simba Energy Inc
has granted stock options to its directors, officers and consultants, under its stock option plan, for the purchase of up to 6.6 million common shares of the Company for a period of three years at a price of $0.20 cents per share.
On Behalf of the Board,
“Robert Dinning”, President and CEO
For further information contact Robert Dinning, President and CEO of the Company at:
rdinning@goldstarresources.com Telephone: (604) 641-4450 Facsmile: (604) 669-9335
Tavistock
Jonathan Charles
Tel: +44 (0)207920 3150
Mob: +44 (0)7791 892509
Email: jcharles@tavistock.co.uk This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Ethos Consulting Inc. (Vancouver)
Investor Relations
1-888-818-1365
www.ethosir.com
SIMBA Energy Provides Social Update & Announces Twitter / Facebook Accounts
Vancouver, BC, Simba Energy Inc. (the “Company”) (TSX-V: SMB) provides the following update on its Humanitarian Society’s activities in Liberia.
During the past year, Simba Energy Liberia, Inc., as part of its continuing Social Welfare Program, had its employees visit the medical clinics in our designated Reconnaissance Permit area to inquire as to medical supplies needed in their clinics. Based on the supply list provided, Simba Energy purchased supplies specifically for each individual medical clinic and then management and staff visited the clinics to deliver these supplies. Local community leaders and healthcare providers and villagers turned out to express their gratitude and appreciation. Country Manager, George Garteh extended Simba’s wish of good health to everyone in the surrounding communities.
This is the second year that Simba Energy has provided Social Welfare to the local communities in the permitted area. Last year the program included medical supplies similar to this year and also provided building repairs and supplies to schools in the area. Phase two of this year’s Social Welfare Program will again provide assistance to schools in these communities. This Social Welfare program is part of Simba Energy’s pledge to contribute to the communities in which we work.
In June, 2010, the Simba Energy Humanitarian Society contributed building materials needed to start construction of a new health clinic in Caldwell. It is expected that roof construction will begin in April of this year, which Simba Energy Humanitarian Society has agreed to provide the necessary roofing materials.
Robert Dinning, President, CEO & Director commented that “The Simba Energy Humanitarian Society is a non-profit organization created to carry out Simba Energy’s corporate social responsibilities. The Simba Energy Humanitarian Society focuses on and assists the communities in Africa where Simba Energy has exploration interests.”
Simba Energy is also pleased to announce that it has joined the social media communities of Twitter and Facebook. You can find us at:
Twitter: @Simbaenergy
Facebook: http://www.facebook.com/home.php#!/pages/Simba-Energy-Inc/wall
About Simba Energy Inc.
Simba Energy is a Vancouver, B.C. based oil and gas exploration company focusing on strategic hydrocarbon opportunities in Africa (Liberia, Ghana and Mali). This region has shown increased promise for development of new hydrocarbon deposits. The Company holds the first and only onshore Hydrocarbon Reconnaissance Permit issued in the country of Liberia for 1,366 sq. kms covering the entire onshore extent of the sedimentary basin known as the Robert-Bassa Basin. In having advanced the license to now warrant acquisition of seismic data Simba has exercised its right to convert this license to a Production Sharing Agreement (PSA) with final approval expected. Simba is the first junior resource company to pursue onshore oil and gas opportunities in Liberia since the late 1970’s.
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
Tavistock
Jonathan Charles
Tel: +44 (0)207920 3150
Mob: +44 (0)7791 892509
Email: jcharles@tavistock.co.uk
Ethos Consulting Inc. (Vancouver)
Investor Relations
1-888-818-1365
www.ethosir.com
Simba Energy Provides Corporate Update
Vancouver, B.C., Canada – March 17, 2011 – Simba Energy Inc. (the “Company”), the oil and gas exploration company with a focus on the West African nations of Liberia, Mali, and Ghana, is pleased to provide the following updates to its shareholders:
Liberia
Pursuant to our previous announcement in October 2010, Simba Energy submitted its application to the National Oil Company of Liberia (NOCAL) to convert its current Hydrocarbon Reconnaissance Permit (NR-001) into a Production Sharing Agreement (PSA). Since then, the Company has had extensive meetings with NOCAL to review, advance, and finalize this PSA application. During this period there have been changes to both the management and the board of directors of NOCAL, as well as a moratorium imposed by the Government on new (offshore) PSA applications. The Company is pleased to confirm it has successfully completed all required negotiations and discussions with NOCAL and is now awaiting a final meeting with the Technical Committee to formalize an executed agreement.
Robert Dinning, President & CEO, commented “I wish to recognize all parties involved with the continued effort and the general support required to advance Simba’s PSA application through the many levels of assessment and review required by the various agencies within the National Oil Company of Liberia and the Government. Our team on the ground at our Liberian offices was also very active with implementation of various social programs in the communities in and around the designated areas where the Company intends to expand its exploration activities.”
Upon formal receipt of this PSA in Liberia, the Company will immediately begin preparations to carry out extensive 2D Seismic and Passive Seismic surveys over the 125 square kilometre area which it has already identified as one continuous seep (see also news release from April 13, 2010). With these efforts the company expects to obtain the stratigraphic data necessary to determine if the characteristics required for collection or trap structures are present before subsequent exploration drilling commences.
Mali
As announced in December 2010, Simba Energy formally submitted an application for a (hydrocarbon) Production Sharing Agreement (PSA) on Block 3 in Mali, West Africa. This is a considerably large block located in the northern part of Mali consisting of 22,000 square km and is in an area where extensive exploration is underway. As part of the PSA application review process, a Company delegation including Senior Management recently met in Mali to review the application with officials from all related agencies. The Company is pleased to confirm that any and all aspects of the application have been completely addressed and resolved to the satisfaction of these respective agencies and the management of AUREP (French Version/Authority for the Promotion of Oil Research to Mali) and the Company is now awaiting final approval of its application.
Ghana
Simba Energy, in late 2010, submitted its application for a Production Sharing Agreement (PSA) in Ghana. This application covers a significant area and is currently being processed through their technical committees. We are awaiting their report regarding any further information that may be required and hope that this application should reach the final decision stage within the next 60 days.
President and CEO Robert Dinning remarks, “We are very pleased with the progress our management team has made during the past 12 months as the Company transformed itself from a mining orientated exploration company to one focused on oil and gas exploration in West Africa. It has been challenging and the management team has done an outstanding job fulfilling any and all requirements put to it by the various governments and agencies while assessing and applying for the exciting petroleum assets we chose to pursue. We have also been able to build a number of high quality relationships within a number of jurisdictions that will surely be helpful going forward. In this same timeframe, the general global economic outlook as well as the market for oil as a commodity has improved significantly now putting the Company in the best position it has been in since its re-organization just over one year ago to take advantage of geographic inroads it has made in the past year”.
About Simba Energy Inc.
Simba Energy is a Vancouver, B.C. based oil and gas exploration company focusing on strategic hydrocarbon opportunities in Africa (Liberia, Ghana and Mali). This region has shown increased promise for development of new hydrocarbon deposits. The Company holds the first and only onshore Hydrocarbon Reconnaissance Permit issued in the country of Liberia for 1,366 sq. kms covering the entire onshore extent of the sedimentary basin known as the Robert-Bassa Basin. In having advanced the license to now warrant acquisition of seismic data Simba has exercised its right to convert this license to a Production Sharing Agreement (PSA) with final approval expected. Simba is the first junior resource company to pursue onshore oil and gas opportunities in Liberia since the late 1970’s.
ON BEHALF OF THE BOARD
Robert Dinning, President & CEO
For further information contact Simba Energy Inc., Robert Dinning, Chief Executive Officer at 604 641 4450, or:
Tavistock
Jonathan Charles
Tel: +44 (0)207920 3150
Mob: +44 (0)7791 892509
Email: jcharles@tavistock.co.uk
Ethos Consulting Inc. (Vancouver)
Investor Relations
1-888-818-1365
www.ethosir.com
For more information please visit: www.simbaenergy.ca
Simba Closes Private Placement
Vancouver, B.C., Canada – January 24, 2011 – Simba Energy Inc. (the “Company”) announces that it has closed its private placement first announced on December 30, 2010. The Company issued 42,322,500 units at $0.08 per unit for total gross proceeds of $3,385,800. Each unit consists of one common share and one-half of one transferable share purchase warrant, each whole warrant exercisable into one additional common share until January 20, 2012, a price of $0.16 per share. All securities issued under the placement are subject to hold periods expiring on May 21, 2011.
The Company paid $93,540 in finder’s fees in respect of the placement.
The majority of the proceeds will be used for the payment of government fees, preliminary ground work expenses and office setup fees in Mali, as well as licensing and survey costs and general overhead costs in Liberia for the next several months. The Company will also use general working capital funds to continue its pursuit of Production Sharing Agreements in Ghana and will continue to pay down outstanding payables and other liabilities as required.
The Company also announces that Casey Forward has resigned as director and Chief Financial Officer of the Company. The Company thanks Mr. Forward for his years of service. Mr. Keith Margetson C.A. has been appointed Chief Financial Officer of the Company effective immediately. Mr. Margetson qualified as a Chartered Accountant in 1975 and has operated his own accounting firm since 1992. He has 15 years experience with public companies both as an auditor and in providing other professional services.
ON BEHALF OF THE BOARD
Robert Dinning, President & CEO
For further information, contact Robert Dinning, President and CEO of the Company at:
rdinning@goldstarresources.com Telephone: (604) 641-4450 Facsimile: (604) 669-9335
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
Private Placement Announcement
Vancouver, B.C., Canada – December 30, 2010 – Simba Energy Inc. (the “Company”) is pleased to announce it has arranged, subject to the approval of the TSX Venture Exchange, a private placement of up to 25,000,000 units at $0.08 per unit for a total gross proceeds of up to $2,000,000. Each unit consists of one common share and one half of a transferable share purchase warrant, each warrant exercisable into one additional common share for one year from the date of issue at a price of $0.16 per share. The proceeds of the private placement will be used for 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 strategic hydrocarbon opportunities in Africa (Liberia, Ghana and Mali). This region has shown increased promise for development of new hydrocarbon deposits. The Company holds the first and only onshore Hydrocarbon Reconnaissance Permit issued in the country of Liberia for 1,366 sq. kms covering the entire onshore extent of the sedimentary basin known as the Robert-Bassa Basin. In having advanced the license to now warrant acquisition of seismic data Simba has exercised its right to convert this license to a Production Sharing Agreement (PSA) with final approval expected in Q1-11. Simba is the first junior resource company to pursue onshore oil and gas opportunities in Liberia since the late 1970’s.
ON BEHALF OF THE BOARD
Robert Dinning, President & CEO
For further information contact Simba Energy Inc., Robert Dinning, Chief Executive Officer at 604 641 4450, or:
Conduit PR (London)
Jonathan Charles
jonathan@conduitpr.com
+44 (0)20 7429 6611
+44 (0)7791 892509
Ethos Consulting Inc. (Vancouver)
Investor Relations
1-888-818-1365
www.ethosir.com
For more information please visit: www.simbaenergy.ca
Simba Energy Inc. Applies for Production Sharing Agreement (PSA) on 22,500 sq. km Block 3 in Mali’s Taoudeni Basin
December 13, 2010, Vancouver, British Columbia, Simba Energy Inc. (TSX.V: SMB) (the “Company” or “Simba”) is pleased to announce it has submitted an application for a (hydrocarbon) Production Sharing Agreement (PSA) on Block 3 in Mali, West Africa. The block consists of a 22,500 square kilometre parcel entirely within the central part of the 1.4 million square kilometer Taoudeni Basin that straddles the north/south boundary with Mauritania. Block 3’s western boundary lies on the border with Mauritania where Total SA (NYSE – TOT) recently announced a discovery.
Substantial seismic and exploration was carried out on Block 3 in recent years. The consensus amongst petroleum industry experts in the region is that the basin’s perimeter strongly demonstrates a Silurian source kitchen (as evidenced with black shales in the Carboniferous and sedimentary extents of the depression’s perimeter).
Significant natural gas and oil occurrences from several wells drilled in the area are documented in scientific publications. Total Organic Content (TOC) reported in the Taoudeni Basin varies from 5 to 20%. All four wells drilled in the basin from 1974 through to 1985 (Ouassa and Abolag in Mauritania, Yarba and Atouila in Mali) resulted in Hydrocarbon showings, indicative of the infracambrian stromatolitc limestone petroleum system and with source rocks composed of paleozoic black shales.
Robert Dinning, President & CEO, remarks, “After many months of work assessing and pursuing this asset, we are pleased to have submitted this application. The Taoudeni Basin is the largest underexplored basin for petroleum in West Africa. Eni S.p.A. (NYSE – E) carried out extensive seismic exploration over the entire concession area. In our assessment we have concluded Block 3 represents some of the strongest potential amongst the available blocks. We look forward to the next stage in the application’s review process.”
James Dick P.Geo., P.Eng., Director of the company, is a Qualified Person in accordance with National Instrument 51-101, and has reviewed and accepts the technical disclosure of this press release.
ON BEHALF OF THE BOARD
Robert Dinning, President & CEO
Simba Energy Inc.
For more information, contact:
Suite 1128 – 789 West Pender St.
Vancouver, BC V6C 1H2 Canada
+1 (604) 641-4450
www.simbaenergy.ca
Ethos Consulting Inc.
Investor Relations
1-888-818-1365
www.ethosir.com
About the Company:
Simba Energy is a Vancouver, B.C. based oil and gas exploration company focusing on strategic hydrocarbon opportunities in Africa (Liberia, Ghana and Mali). This region has shown increased promise for development of new hydrocarbon deposits. The Company holds the first and only onshore Hydrocarbon Reconnaissance Permit issued in the country of Liberia for 1,366 sq. kms covering the entire onshore extent of the sedimentary basin known as the Robert-Bassa Basin. In having advanced the license to now warrant acquisition of seismic data Simba has exercised its right to convert this license to a Production Sharing Agreement (PSA) with final approval expected in Q1-11. Simba is the first junior resource company to pursue onshore oil and gas opportunities in the Liberia since the late 1970’s.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Simba Energy Inc. Retains Ethos Consulting Inc. for Investor Relations and Corporate Communications
November 9, 2010, Vancouver, British Columbia, Simba Energy Inc. (TSX.V: SMB) (the “Company” or “Simba”) is pleased to announce the engagement of Ethos Consulting Inc. (“Ethos”) to perform corporate advisory and investor relations services for the Company, subject to TSX Venture Exchange approval. The contract will be effective November 8, 2010 and active for a period of twelve months.
Ethos has been retained to assist the Company with a strategic mix of corporate communications and investors relations services in order to increase investor awareness and introduce the Company to private investors, analysts, brokers, fund managers, trade media, newsletter writers and other key influencers in the global oil and gas industry and international investment community.
Under the terms of their agreement, Simba will pay Ethos $7,500 per month and grant options to purchase up to 500,000 shares at a price of $0.10 per share for two years. In accordance with exchange regulation, these options will vest over a period of 12 months.
Robert Dinning, President, and Chief Executive Officer of Simba remarks; “Senior Management is keen to have a partner in an investor relations capacity whom has demonstrated a strong understanding of our sector and the support we will require executing our stated strategy. We have been very active with efforts to convert our Onshore Hydrocarbon Reconnaissance License in coastal Liberia into a Production Sharing Agreement so we are looking forward to growing global awareness of Simba as we continue our work to acquire and develop strategic oil and gas assets in Africa with help from the Ethos team.”
“Robert Dinning”
President and CEO
Simba Energy Inc.
For more information, contact;
Suite 1128 – 789 West Pender St.
Vancouver, BC V6C 1H2 Canada
+1 (604) 641-4450
info@simbaenergy.ca
www.simbaenergy.ca
Ethos Consulting Inc.
Investor Relations
1-888-818-1365
info@ethosir.com
About Simba
Simba Energy is a Vancouver, B.C. based oil and gas exploration company, focused on hydrocarbon opportunities in Africa, including the countries of Liberia, Ghana and Mali. This region has shown increased promise for development of new hydrocarbon deposits. Simba Energy has already secured a Hydrocarbon Reconnaissance Permit in Liberia; the permit area extends over an area of 1,366 sq. kms and covers the entire onshore extent of the sedimentary basin known as the Robert-Bassa Basin. Simba is the first junior resource company to pursue onshore oil and gas opportunities in the West Africa region since the late 1970’s.
About Ethos Consulting Inc.
Based in Vancouver, British Columbia, Ethos Consulting Partners (www.ethosir.com) was founded to provide a full range of capital market and investor relation services personalized to the needs of pre-IPO and to publicly listed North American based micro to small-cap companies. Ethos is wholly owned by Mr. Daniel Terrett, Mr. Nicholas Horsley and Mr. Kevin Beaulieu, corporate communications and investor relations professionals with a combined 20 years of experience assisting numerous small-cap corporations gain coverage and recognition within the global investment community.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
NOCAL Visits Simba Energy’s Vancouver Headquarters
Vancouver, BC, Canada – October 21, 2010 – Simba Energy Inc. (TSX.V: SMB), the oil and gas exploration company with a focus towards the African countries of Liberia, Mali, and Ghana, announces the following update on its activities:
Mr. Robert Dinning, President and CEO, is pleased to report that Simba Energy Inc. has successfully hosted a delegation from the National Oil Company of Liberia (NOCAL) at its Head Office in Vancouver, Canada. The purpose of the visit was to review Simba`s application to convert its hydrocarbon reconnaissance permit to a Production Sharing Agreement (PSA).
Robert Dinning remarks, “The Company was able to demonstrate the merits of Simba`s PSA application to the satisfaction of these officials and is excited to be moving forward with the company’s targeted goals.” The application is now before the NOCAL technical committee for review.
ON BEHALF OF THE BOARD
“Robert Dinning”, President & CEO
For further information contact Simba Energy Inc., Robert Dinning, Chief Executive Officer at 604 641 4450, or:
Conduit PR (London)
Jonathan Charles +44 (0)20 7429 6611
+44 (0)7791 892509
About Simba Energy Inc.
(TSX.V: SMB) Simba Energy Inc., through its Liberian subsidiary company, holds Hydrocarbon Reconnaissance License No. NR-001 for onshore coastal Liberia in the Roberts-Bassa basin. This onshore license covers an area of 1,366 sq. kms of the onshore coastal strip of Liberia and, according to outcrop data produced by the US Geological Survey, indicates that this area is connected laterally and down-dip with the West African – Atlantic conjugate continental margin.