April 13, 2012 Vancouver, British Columbia, Simba Energy Inc. (the “Company”) (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF) is pleased to report it has been notified by GeoDynamics Research S.R.L. (Italy) that on site reconnaissance of its 100% interest in Block 2A – Kenya is to commence in April. Crew and equipment is scheduled to arrive early May 2012 and we will begin an extensive program acquiring passive seismic survey data.
The scope of this survey covers 750 square kilometers with 250 MPS (measuring points) on 2 km spacing to identify, and evaluate areas with hydrocarbon potential on Simba’s Block 2A.
James W. Dick, P Geol., P. Eng., (APEGGA), and Qualified Person in accordance with NI 51-101, and a Director of the Company remarks “The planned survey covers a portion of both basins within Block 2A where the Company has already identified 2 exploration leads by re-working existing 2D seismic data. These existing exploration leads will receive the immediate focus along with any additional leads identified from ongoing 2D re-interpretation. The potential areas identified will be further evaluated by conventional seismic most likely 3D or 2D and/or gravity gradiometer prior to selecting a drill site.”
The acquisition work in the field is expected to take 30 days with a report due within 30 days upon completion of field work.
About Passive Seismic Spectroscopy (IPDS®)
Infrasonic Passive Differential Spectroscopy (IPDS) is a direct hydrocarbon indictor process which utilizes high sensitivity seismometers. The seismometers presently used are even more sensitive and are used in an extensive worldwide grid monitoring the earth’s subsurface seismic activity. This grid identifies the background noise as a frequency spectrum.
IPDS detects low frequency in the 1-8 Hz range as spectral signatures over hydrocarbon reservoirs. A hydrocarbon reservoir is a frequency converter and deforms the frequency of the natural earth noise. These deformed signals on spectroscopic analysis produce unique spectral signatures which are used as Direct Hydrocarbon Indication. IPDS technology has been tested in numerous basins and reservoirs all around the world in areas including currently producing, depleted, abandoned fields and virgin reservoirs. In over 120 surveys it has proven to be correct 80% of the time which is a marked improvement in the current wildcat success ratio. Its use on Simba’s Block 2A to evaluate known structures should move the Exploration program ahead by at least one or two years while reducing risk.
For more information on this technology and GeoDynamics visit www.geodynamics.it.
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 Kenya, Liberia, Guinea, Mali and Ghana). 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
We seek safe harbour.