SIMBA ENERGY PROGRESSES ON BLOCK 2A, ONSHORE KENYA
July 18, 2012, Vancouver, B.C., Canada. Simba Energy Inc. ("Simba" or the "Company") (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF), the pan-African oil & gas explorer, is pleased to provide an operations update on its activities at Block 2A, onshore Kenya. Simba holds a 100 % interest in the Production Sharing Contract (PSC) for Block 2A.
The acquisition of passive seismic data is well underway. In addition to targeting the primary lead in Block 2A, and following the assessment of new data, the Company has now decided to increase the coverage area of the passive seismic survey five-fold from 750 sq.kms to approximately 4,000 sq.kms, utilizing 218 data/listening stations, as well as add a geochemical survey during this current phase of fieldwork. This area, lying within a junction of two basin trends, is believed by Simba’s technical staff to be geologically analogous to the area in Block 10BB drilled by Tullow Oil plc & Africa Oil Corp.
In addition, the Company is also pleased to announce that it has formally engaged Ernst & Young LLP to advise the Company on advancing the value of this exciting asset, including a potential farm-out of Block 2A.
Hassan Hassan, Managing Director of Operations said, “Our work in the field is progressing well. This decision to expand the coverage area of passive seismic, also adding the geochem study, coupled with existing 2D, gravity and aeromagnetic surveys most definitely serves to better appraise the true extent of Block 2A’s exploration potential. Further, with the considerable interest generated in the region by the recent oil discovery at Block 10BB, having Ernst & Young’s Oil & Gas team sign on to help us advance this concession in the best possible manner for the Company, including a possible farm-out, is definitely another very positive step so early on.”
ON BEHALF OF THE BOARD"Robert Dinning", President & CEO.
For further information contact Simba Energy Inc. at: 604-641-4450, or visit:
www.simbaenergy.ca , or firstname.lastname@example.org, or Mark Sommer, Toll Free: 1-855-777-4622.
Tabrez R. Khan, Assistant Director, Mergers & Acquisitions - Oil and Gas Ernst & Young LLP,
email@example.com, or +44 (0) 20 7951 4674,
For Public Relations (UK), Lionsgate Communications, Jonathan Charles, firstname.lastname@example.org, or + 44 (0)779 189 2509.
About Simba Energy Inc.
Simba Energy Inc. is a Pan African oil & gas exploration company focused on onshore opportunities across Africa. Simba holds a 100% Production Sharing Contract (PSC) for Block 2A in Kenya, 60% interest in Blocks 1 and 2, onshore Republic of Guinea, and has Block 3 (onshore) Mali. Simba also has applications pending for onshore blocks in Liberia and Ghana.
About GeoDynamics Research S.R.L.
GeoDynamics is the innovator and leader in Low Frequency Passive Seismic Spectroscopy (IPDS®), applied to detect and monitor hydrocarbon reservoirs in exploration areas and developed fields by employing GeoDynamics Research’s patented technology, Geospectra IPDS®. Today GeoDynamics Research S.R.L operates worldwide providing Passive Seismic Data Acquisition, Passive Seismic Data Processing, Analysis, Interpretation and Research & Development. For more information about the company or Passive Seismic technology visit: www.geodynamics.it