December 16, 2016, Vancouver, British Columbia – Simba Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (Frankfurt: GDA) (OTCBB: SMBZF) and Essel Group Middle East (“EGME”) are pleased to announce that the 2D seismic acquisition program on Block 2A in Wajir, Kenya has been successfully completed by Africa Geophysical Services Ltd (“AGS”). The survey has acquired a total of 520 kilometres of 2D seismic data on the block lying within the Mandera basin. Multi-level quality control checks were applied throughout the project to achieve a best quality outcome.
The seismic data acquired is currently being interpreted to determine petroleum systems, and various structural leads. This processing, integration and interpretation is now underway and it is anticipated it to be completed in early Quarter 1 in 2017. A further technical update will be provided as information becomes available.
A video presentation has been prepared covering its work in Wajir, Kenya and can found on the company website in the next 24 hours. Please follow the link to the website: www.simbaenergy.ca
Punkaj Gupta, CEO of Simba Energy and EGME commented “The data acquired by AGS is extremely good quality and we are greatly encouraged from early interpretations that suggest Block 2A contains very favorable structural and stratigraphic conditions that will lead to defined drill targets”.
About Essel Group Middle East
Essel Group Middle East (“EGME”) is a diversified natural resources company with a focus on the exploration, development and production of oil, gas and mining assets. The group targets assets in proven basins with near-term production potential and it has operations in Kenya, Guinea, Ghana, Liberia, Chad and Eritrea. EGME is backed by Essel Group, a global conglomerate with a 40-year history spanning numerous industries including the media, packaging, entertainment, infrastructure, education and metals. For further information, please visit www.esselgroupme.com.
About Simba Energy:
Simba Energy Inc. provides investors with well positioned exposure to oil and gas exploration in key areas of Africa with active onshore production sharing contracts (“PSCs”) in Kenya and Guinea and PSCs under continuing negotiation in Chad, Liberia and Ghana. Simba’s mission is to focus on onshore oil and gas potential in areas that are under-developed or not previously exploited. For further information, please visit www.simbaenergy.ca
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President & Director
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This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results. 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.