(TheNewswire)
October 19, 2018 / TheNewswire / 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.
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