News

October 25, 2019, Vancouver, British Columbia – SIMBA ESSEL ENERGY INC. (“Simba” or the “Company”) (TSX Venture: SMB) (Frankfurt: GDA): SMBZF) provides the following update.

Simba Essel Energy Inc is an oil and gas exploration Company whose mandate is exploration in various African countries and to acquire necessary Government approval for properties it wished to develop. Through a subsidiary company in Kenya, the Company holds a Production Sharing Contract  (“PSC’) on Block 2A in northern Kenya. In late 2015, the Company entered into a Definitive Agreement with Essel Group ME, (“EGME”) a Dubai based conglomerate, who agreed to take control of all exploration activities regarding Block 2A and would earn an interest in the PSC on completion of two wells on Block 2A.

In conjunction with EGME’s control of exploration, EGME on various occasions agreed to undertake to retire all of the Companys debt so that the Company could focus on acquiring attractive assets. EGME further requested to take control of the Board of Directors and recommended the appointment of Gagan Goel, Chairman of EGME, as Vice-Chairman of the Company. Further, EGME requested that Punkaj Gupta, CEO of EGME, be appointed as CEO of the Company. These appointments were announced on or about April 18, 2016.

The Company has now been advised that Mr. Goel has terminated the services of Mr. Gupta as a Director and Officer of EGME for various reasons. Mr. Goel recommended that the Company terminate Mr. Gupta as a Director and Officer of Simba. Mr. Gupta has submitted his resignation as Director and Officer of Simba, effective immediately.

The Company has now been advised that EGME either cannot or will not arrange the necessary financing for the Company to complete its annual audit and file its Financial Statements and related MD&A by its filing date of October 28, 2019. This leaves the Company in a position where it will be unable to file the required financial statements and MD&A by the deadline of October 28, 2019.

The Board of Directors of Simba, after waiting for EGME to perform on its commitment to arrange funding, now must suspend operations and will attempt to reorganize the Company with the cooperation of all of the stakeholders.

About Essel Group Middle East (EGME)

EGME is a diversified conglomerate operating primarily in the Europe, Middle East, Africa and Asia pacific region. EGME is part of Essel Group, the Indian multinational conglomerate operating in a broad spectrum of industries including media, packaging, infrastructure and technology. Building on Essel Group’s 90-year history of developing and promoting businesses, EGME is leading the Group’s regional expansion and currently operates subsidiary businesses in the natural resources, energy, industrial supply and logistics, education and financial services sectors. For further information, please visit www.esselgroupme.com  

About Simba Essel Energy Inc.

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 under-developed or not previously exploited. For further information, please visit: www.simbaenergy.ca.

On behalf of the Board of Directors,

Robert Dinning

President and Director

For further information, contact the Company at +1-604-641-4450 or

Toll Free: 1‐855‐777‐4622, or info@simbaenergy.ca .

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.

January 25, 2019, Vancouver, British Columbia – Simba Essel Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (OTC: SMBZF) (Frankfurt: GDA), announces that further to its news release dated November 2, 2018, the Company’s principal regulator, the British Columbia Securities Commission (the “BCSC”) granted a management cease trade order (the “MCTO”) on November 2, 2018, under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”).

Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer may not trade in securities of the Company until such time as the Company files its annual audited financial statements for the year ended June 30, 2018, management’s discussion and analysis and related certifications on or before December 31, 2018 (collectively the “Required Documents”) and the Executive Director of the BCSC revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.

The Company’s Board of Directors and management confirm that they are working expeditiously to file the Required Documents and confirm that since the Company’s news release dated November 2, 2018, there is no other material information respecting the Company’s affairs that has not been generally disclosed. The Company’s interim financial statements for the quarter ending September 30, 2018, management’s discussion and analysis and related certifications, which were due to be filed by November 29, 2018, will follow the filing of its required annual financial statements and Management Discussion and Analysis for the year ending June 30, 2018.

On December 31, 2018, the BCSC granted the Company an extension until January 31, 2019 to file the Required Documents.

Until the Required Documents have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement.

On behalf of the Board of Directors,

SIMBA ESSEL ENERGY INC

“Punkaj Gupta”

Punkaj Gupta

Chief Executive Officer

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

January 11, 2019, Vancouver, British Columbia – Simba Essel Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (OTC: SMBZF) (Frankfurt: GDA), announces that further to its news release dated November 2, 2018, the Company’s principal regulator, the British Columbia Securities Commission (the “BCSC”) granted a management cease trade order (the “MCTO”) on November 2, 2018, under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”).

Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer may not trade in securities of the Company until such time as the Company files its annual audited financial statements for the year ended June 30, 2018, management’s discussion and analysis and related certifications on or before December 31, 2018 (collectively the “Required Documents”) and the Executive Director of the BCSC revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.

The Company’s Board of Directors and management confirm that they are working expeditiously to file the Required Documents and confirm that since the Company’s news release dated November 2, 2018, there is no other material information respecting the Company’s affairs that has not been generally disclosed. The Company’s interim financial statements for the quarter ending September 30, 2018, management’s discussion and analysis and related certifications, which were due to be filed by November 29, 2018, will follow the filing of its required annual financial statements and Management Discussion and Analysis for the year ending June 30, 2018.

On December 31, 2018, the BCSC granted the Company an extension until January 31, 2019 to file the Required Documents.

Until the Required Documents have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement.

On behalf of the Board of Directors,

SIMBA ESSEL ENERGY INC

“Punkaj Gupta”

Punkaj Gupta

Chief Executive Officer

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

December 28, 2018, Vancouver, British Columbia – Simba Essel Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (OTC: SMBZF) (Frankfurt: GDA), announces that further to its news release dated November 2, 2018, the Company’s principal regulator, the British Columbia Securities Commission (the “BCSC”) granted a management cease trade order (the “MCTO”) on November 2, 2018, under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”).

Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer may not trade in securities of the Company until such time as the Company files its annual audited financial statements for the year ended June 30, 2018, management’s discussion and analysis and related certifications on or before December 31, 2018 (collectively the “Required Documents”) and the Executive Director of the BCSC revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.

The Company’s Board of Directors and management confirm that they are working expeditiously to file the Required Documents and confirm that since the Company’s news release dated November 2, 2018, there is no other material information respecting the Company’s affairs that has not been generally disclosed. The Company’s interim financial statements for the quarter ending September 30, 2018, management’s discussion and analysis and related certifications, which were due to be filed by November 29, 2018, will follow the filing of its required annual financial statements and Management Discussion and Analysis for the year ending June 30, 2018.

Until the Required Documents have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement.

On behalf of the Board of Directors,

SIMBA ESSEL ENERGY INC

“Punkaj Gupta”

Punkaj Gupta

Chief Executive Officer

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

December 14, 2018, Vancouver, British Columbia – Simba Essel Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (OTC: SMBZF) (Frankfurt: GDA), announces that further to its news release dated November 2, 2018, the Company’s principal regulator, the British Columbia Securities Commission (the “BCSC”) granted a management cease trade order (the “MCTO”) on November 2, 2018, under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”).

Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer may not trade in securities of the Company until such time as the Company files its annual audited financial statements for the year ended June 30, 2018, management’s discussion and analysis and related certifications on or before December 31, 2018 (collectively the “Required Documents”) and the Executive Director of the BCSC revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.

The Company’s Board of Directors and management confirm that they are working expeditiously to file the Required Documents and confirm that since the Company’s news release dated November 2, 2018, there is no other material information respecting the Company’s affairs that has not been generally disclosed. The Company’s interim financial statements for the quarter ending September 30, 2018, management’s discussion and analysis and related certifications, which were due to be filed by November 29, 2018, will follow the filing of its Required Documents.

Until the Required Documents have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement.

On behalf of the Board of Directors,

SIMBA ESSEL ENERGY INC

“Punkaj Gupta”

Punkaj Gupta
Chief Executive Officer

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

November 30, 2018, Vancouver, British Columbia – Simba Essel Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (OTC: SMBZF) (Frankfurt: GDA), announces that further to its news release dated November 2, 2018, the Company’s principal regulator, the British Columbia Securities Commission (the “BCSC”) granted a management cease trade order (the “MCTO”) on November 2, 2018, under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”).

Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer may not trade in securities of the Company until such time as the Company files its annual audited financial statements for the year ended June 30, 2018, management’s discussion and analysis and related certifications on or before December 31, 2018 (collectively the “Required Documents”) and the Executive Director of the BCSC revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.

The Company’s Board of Directors and management confirm that they are working expeditiously to file the Required Documents and confirm that since the Company’s news release dated November 2, 2018, there is no other material information respecting the Company’s affairs that has not been generally disclosed. The Company’s interim financial statements for the quarter ending September 30, 2018, management’s discussion and analysis and related certifications, which were due to be filed by November 29, 2018, will follow the filing of its Required Documents.

Until the Required Documents have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement.

On behalf of the Board of Directors,

SIMBA ESSEL ENERGY INC

“Punkaj Gupta”

Punkaj Gupta

Chief Executive Officer

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

November 16, 2018, Vancouver, British Columbia – Simba Essel Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (OTC: SMBZF) (Frankfurt: GDA), announces that further to its news release dated November 2, 2018, the Company’s principal regulator, the British Columbia Securities Commission (the “BCSC”) granted a management cease trade order (the “MCTO”) on November 2, 2018, under National Policy 12-203 Management Cease Trade Orders (“NP 12-203”).

Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer may not trade in securities of the Company until such time as the Company files its annual audited financial statements for the year ended June 30, 2018, management’s discussion and analysis and related certifications on or before December 31, 2018 (collectively the “Required Documents”) and the Executive Director of the BCSC revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.

The Company’s Board of Directors and management confirm that they are working expeditiously to file the Required Documents and confirm that since the Company’s news release dated November 2, 2018, there is no other material information respecting the Company’s affairs that has not been generally disclosed.

Until the Required Documents have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement.

On behalf of the Board of Directors,

SIMBA ESSEL ENERGY INC

“Punkaj Gupta”

Punkaj Gupta

Chief Executive Officer

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

November 2, 2018, Vancouver, British Columbia – Simba Essel Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (OTC: SMBZF) (Frankfurt: GDA), the Issuer, announced today that it will not be in a position to file its audited annual financial statements (the “Statements”), management’s discussion and analysis and related certifications for the fiscal year ended June 30, 2018 on or before October 29, 2018, as required, due to:

• Audited financial statements are not yet available;
• Specific financial arrangements will not complete until early November 2018.

Accordingly, the Issuer has requested the issuance of a management cease trade order under the provisions of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults (“NP 12‑203”) so as to permit the continued trading in the Issuer’s Common Shares by persons other than insiders and employees of the Issuer.  The Issuer expects to be able to have the audit of the Statements completed, and the Statements filed, no later than December 30, 2018.

The Issuer confirms that it intends to satisfy the provisions of section 4.4 of NP 12-203 and issue bi- weekly default status reports for so long as the Issuer remains in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by the Issuer to remedy the default; particulars of any failure by the Issuer to fulfill these provisions, any subsequent defaults of the Issuer requiring a default announcement and any other material information concerning the affairs of the Issuer not previously disclosed.  The Issuer is not subject to any insolvency proceedings nor is there in other material information concerning the affairs of the Issuer that has not been generally disclosed.

On behalf of the Board of Directors,

SIMBA ESSEL ENERGY INC

“Punkaj Gupta”

Punkaj Gupta

Chief Executive Officer

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

October 19, 2018, Vancouver, British Columbia – SIMBA ESSEL ENERGY INC. (the “Company”) (TSX Venture: SMB) (Frankfurt: GDA) is pleased to provide the following update regarding Kenya and Liberia.

Essel Group Middle East (“EGME”) – Simba Essel’s partner in the PSC – who manage exploration activities in Kenya, advise that their geological team in Dubai have spent the past few months reviewing and analysing data obtained from three independent international resource consulting firms; Sproule International, CGG GeoConsulting, and XODUS, who in turn provided interpretation of seismic data previously carried out by Africa geophysical Services Ltd (“AGS”). That seismic survey produced a total of five hundred and twenty (520) kilometers of 2D seismic lines on Block 2A.

The EGME technical team have reviewed all data pertaining to the interpretation and have comprised a drill program which will be submitted to the Ministry of Energy in Kenya. This will be followed up with a technical presentation to the Ministry as part of their application to obtain a formal permit to drill.

EGME is also in advanced negotiations with a major drilling company regarding a drill program for Block 2A in Kenya. Once finalized, this drilling agreement will be submitted to the Ministry of Energy in Kenya for approval and issuance of a permit for drilling purposes.

In Liberia, EGME has executed a contract with Bellgeo Enterprises Limited of Edinburgh wherein Bellgeo will conduct a Full Tensor Gravity Gradiometry (“FTG”) survey in Roberts and Bassa Basin in Liberia. This contract has been submitted to NOCAL, which is the governing body in Liberia for resource exploration, for approval. This is part of a final environmental approval which must be issued by NOCAL prior to undertaking any exploration activities on the block.

Simba Essel Energy Inc. currently holds a Hydrocarbon Reconnaissance License (NR002) in Liberia which covers an onshore area known as Roberts and Bassa Basin and nearshore for a total of 2,961.7 sq. km.

About Essel Group Middle East (EGME)

EGME is a diversified conglomerate operating primarily in the Europe, Middle East, Africa and Asia pacific region. EGME is part of Essel Group, the Indian multinational conglomerate operating in a broad spectrum of industries including media, packaging, infrastructure and technology. Building on Essel Group’s 90-year history of developing and promoting businesses, EGME is leading the Group’s regional expansion and currently operates subsidiary businesses in the natural resources, energy, industrial supply and logistics, education and financial services sectors. For further information, please visit www.esselgroupme.com.

About Simba Essel Energy Inc.

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. 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.

On behalf of the Board of Directors,

Robert Dinning
President and Director

For further information, call +1-604-641-4450 or
Toll Free: 1‐855‐777‐4622, or info@simbaenergy.ca.

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.

FOR IMMEDIATE RELEASE

April 11, 2018, Vancouver, British Columbia—At the request of IIROC, Simba Essel Energy Inc. (the “Company”) (TSX Venture: SMB) (Frankfurt: GDA) (OTCQB: SMBZF) wishes to confirm that the Company’s management is unaware of any material change in the Company’s operations that would account for the recent increase in market activity.

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 and a new Hydrocarbon Reconnaissance Permit in Liberia. 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.

ON BEHALF OF THE BOARD

“Robert Dinning”

President & Director

For further information, contact:
Robert Dinning
Toll free: 1‐855‐777‐4622
info@simbaenergy.ca

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.

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.