March 27, 2012 Vancouver, British Columbia, Simba Energy Inc. (the “Company”) (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF) is pleased to announce Sproule Associates Limited (Calgary) as having been engaged to carry out an evaluation on the Company’s 100% interest in Block 2A in Kenya and provide an evaluation report compliant to both NI 51-101, and a Competent Persons Report (‘CPR’ – for European investment standards).
Sproule has considerable evaluation experience in Kenya and especially in the area of Block 2A where they have previously provided similar reports for blocks adjacent to Block 2A. The Company expects the report to be completed in the next 60 days.
Robert Dinning, President & CEO remarks, “…we commissioned Sproule for this evaluation because they have done extensive in depth geological and geophysical studies in the immediate area. While Simba’s technical team is encouraged by its own evaluation and review of the available data, our shareholders can now look forward to seeing the results of an independent evaluation of this asset’s potential within these coming weeks.”
About Sproule Associates Limited
Sproule is a premier, independent petroleum consulting firm with expertise in geology, geophysics and petroleum engineering, anchored by over 60 years of experience and widely recognized for their expertise and independence in providing clients with a wide range of services, leveraging their expertise in understanding and evaluating unconventional and conventional hydrocarbon assets worldwide. This world class expertise is built on a wealth of experience and proprietary datasets with more than 19,000 projects completed for over 4,300 clients since inception in 1951 and with direct experience from work in every oil and gas region of the world. Sproule has significant previous experience in Kenya, including recent Competent Person’s Reports and resource studies conducted for a number of the blocks adjacent to Block 2A, including:
- Lion Petroleum Corp – Blocks 1 and 2B (2011)
- Vanoil Energy Ltd. – Blocks 3A & 3B (2011)
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, Ghana 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
We seek safe harbour.