Simba Energy Hosts Delegation from Guinea
October 17 2011 - 10:01AM
Marketwired
Simba Energy Inc. (the"Company" or "Simba"); (TSX VENTURE:SMB);
(FRANKFURT:GDA) is pleased to report that the Company has
successfully hosted a delegation from the Ministry of Mines and
Energy, Republic of Guinea at its Head Office in Vancouver, Canada.
On July 27 of this year, the Company announced an agreement with
Summa Energy S.A., to acquire as the operator, a 60% interest in a
Production Sharing Contract for Blocks 1 & 2 onshore Bove
Basin, subject to Government approval. The delegation was here to
review Simba`s technical and financial capabilities as part of due
diligence relating to this agreement.
Robert Dinning, President and CEO, remarks, "Management believes
it successfully demonstrated the merits of Simba`s financial and
technical capabilities to the satisfaction of these officials. Our
geological staff concluded Blocks 1 & 2 represent significant
potential for oil and gas in a relatively underexplored basin. We
are further encouraged by Hyperdynamics Corporation having just
commenced the first of two exploration wells to be drilled off
shore from Blocks 1 & 2 during these coming months and are
eager to begin our exploration program."
Simba has also applied to list its shares on the OTCQX
Marketplace in the U.S.A.
About the Company
Simba Energy is a Vancouver, B.C. based oil and gas exploration
company strategically focusing on underexplored overlooked basins
in its pursuit of hydrocarbon opportunities in Africa (currently
Liberia, Mali, Ghana, Guinea, Kenya and others). The region has
shown increased promise for development of new hydrocarbon
deposits. On behalf of its shareholders the Company's Senior
Management Team have endeavoured to leverage their technical
expertise and industry 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 we
work.
We seek safe harbour.
This document includes forward- looking statements. When used in
this document, the words "potential", "plan", "could", "estimate",
"expect", "intend", "may", "should", and similar expressions are
intended to be among the statements that identify forward-looking
statements. Although Simba Energy Inc. believes that their
expectations reflected in these forward-looking statements are
reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual results will be consistent with
these forward-looking statements.
Neither 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.
Contacts: Simba Energy Inc. 604-641-4450info@simbaenergy.ca
Simba Energy Inc. Mark Sommer 1-855-777-4622www.simbaenergy.ca
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