Vancouver, British Columbia. / ACCESSWIRE / August 22, 2014 / Simba Energy Inc. (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF) (the "Company" or "Simba") is pleased to report that following positive results of the Company's most recent FTG (Full Tensor Gradiometry) survey and final report by Bell Geospace, the Company has reopened its data room and, with the assistance of Ernst & Young's Corporate Finance Oil & Gas division in London, has resumed discussions with numerous parties interested in participating in the development of Block 2A in Kenya.
The results of the high resolution Gravity Gradiometry(TM) by Bell Geospace has identified five structural features with independent closures varying in size from 30kms? to +100kms? in both the Mandera and Anza basins that compare favourably to earlier discoveries in the region. As a result the Company is planning a more focused 2D seismic acquisition program to further delineate drilling locations.
It is noted that significant activity is underway directly surrounding Block 2A (Simba at 100% interest), with three wells scheduled to be drilled and completed this year: Sala-2 (Africa Oil, 50% interest), Badada-1 (Premier Oil, 55% interest), and Khorof-1 (Afren, 80% interest) which speaks highly to the area's exploration potential.
"We're pleased to report that these very encouraging FTG results have increased the level of interest in Block 2A considerably.", remarked Robert Dinning, President & CEO
All inquiries to access the data room should be directed to Ernst & Young - Corporate Finance Oil & Gas (London), attention Mr. Anu Tayal, Assistant Director, +44 (0) 20 7951 4975, [email protected]
James W. Dick P Geol., P. Eng., (APEGA) is a qualified person in accordance with National Instrument 51-101 and has reviewed and approves the technical disclosure in this news release.
About Simba Energy: Simba Energy Inc. is an oil and gas exploration company with active onshore PSCs in Kenya and Guinea and PSC's under continuing negotiation in Chad, Liberia and Ghana. Simba focuses on onshore oil and gas exploration in areas that are under-developed or not previously exploited.
ON BEHALF OF THE BOARD
President & CEO
For further information, contact: Mark Sommer, [email protected], Toll Free: 1- 855-777-4622.
This News Release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results. 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.