September 11, 2017, Simba Essel Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (Frankfurt: GDA) (CQX: SMBZF) advises that its partner Essel Group Middle East (EGME) have signed an agreement with Bell Geospace to conduct a comprehensive airborne FTG (Full Tensor Gravity Gradiometry) survey across Simba’s exploration block in Liberia.
The contract will see Bell Geospace fly Full Tensor Gravity Gradiometry (FTG) surveys across 2,962km2 of the onshore coastal strip of Liberia lying within the known extent of the Roberts-Bassa basin.
Bringing its considerable strength in high resolution gravity technology, Bell Geospace will commence survey flights during last quarter 2017 and early 2018. The outcome of the surveys will provide processing and interpretive surveys resulting in 3D imaging of the complex sub-surface geology of this highly prospective exploration block.
Bell Geospace will use a Basler BT-67 flying at low altitude to conduct the survey.
Mr. Hassan Hassan, Managing Director, Operations, Simba Essel Energy Inc. comments: “We are very pleased to once again work with Bell Geospace and look forward to beginning the next stage in the development of our Liberian Hydrocarbon Reconnaissance Permit. Acquiring FTG data over the onshore/shallow water will provide valuable data which will be critical in planning the future seismic program”.
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, 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 Essel Energy
Simba provides investors with well positioned exposure to oil and gas exploration in key areas of Africa with active onshore PSC in Kenya, final negotiations for a new PSC in Guinea, a new Hydrocarbon Reconnaissance Permit in Liberia and PSCs under negotiations in Chad and Ghana. Simba’s mission is to focus on onshore oil and gas potential in areas that are underdeveloped or not previously exploited.
For further information, please visit: www.simbaenergy.ca
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This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than the statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward‑looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “could” or “should” occur. Forward looking information in this news release includes, without limitation, all statements regarding the use of proceeds. Although the Company believes that the expectations expressed in such forward‑looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward‑looking statements. Factors that cause the actual results to differ materially from those in forward-looking statements include: results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness in government approvals, continued availability of capital and financing and general economic, market and business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company’s forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.