Vancouver, British Columbia, October, 17, 2011. SIMBA ENERGY INC TSXV: SMB
Simba Energy Inc. (the”Company” or “Simba”); (TSXV:SMB); (Frankfurt: GDA) is pleased to report that the Company has successfully hosted a delegation from the Ministry of Mines and Energy, Republic of Guinea at its Head Office in Vancouver, Canada.
On July 27 of this year, the Company announced an agreement with Summa Energy S.A., to acquire as the operator, a 60% interest in a Production Sharing Contract for Blocks 1 & 2 onshore Bove Basin, subject to Government approval. The delegation was here to review Simba`s technical and financial capabilities as part of due diligence relating to this agreement.
Robert Dinning, President and CEO, remarks, “Management believes it successfully demonstrated the merits of Simba`s financial and technical capabilities to the satisfaction of these officials. Our geological staff concluded Blocks 1 & 2 represent significant potential for oil and gas in a relatively underexplored basin. We are further encouraged by Hyperdynamics Corporation having just commenced the first of two exploration wells to be drilled off shore from Blocks 1 & 2 during these coming months and are eager to begin our exploration program. ”
Simba has also applied to list its shares on the OTCQX Marketplace in the U.S.A.
About the Company
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, Guinea, Kenya and others). The 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 technical expertise and industry 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.
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“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.” This document includes forward- looking statements. When used in this document, the words “potential”, “plan”, ”could”, “estimate”, “expect”, “intend”, “may”, “should”, and similar expressions are intended to be among the statements that identify forward-looking statements. Although Simba Energy Inc. believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements”