Additional 2D Seismic Acquired on Simba Energy's Block 2A
February 24 2014 - 8:20AM
Marketwired
Additional 2D Seismic Acquired on Simba Energy's Block 2A
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 24, 2014) -
Simba Energy Inc. (TSX-VENTURE:SMB) (FRANKFURT:GDA) (OTCQX:SMBZF)
(the "Company" or "Simba") announces that it has granted permission
to Taipan Resources Inc. ("Taipan") operator of Block 2B in Kenya,
to carry out 2-D seismic in an area located in the southwest corner
of Simba`s Block 2A just to the north of their Pearl prospect.
Taipan, having already completed a small amount 2D seismic (22
line kilometers in total) in the southwest corner of Block 2A and
provided the processed data to the Company, have requested
permission to conduct an additional 24 line kilometers of 2D
seismic within this same area. This work will comprise six lines,
mostly 'tails', and is part of Taipan's current seismic program
that aims to finalize a drilling location for their first
exploration well planned for the fourth quarter of 2014 at the
Pearl prospect which lies just south of the Company's Block 2A
boundary. This work is expected to be completed by the end of
February and the seismic data will be forwarded to Simba at the
conclusion of processing.
Once interpreted, this seismic data will serve to complement
Simba's existing dataset as well as future seismic work
contemplated by the Company's recently announced LOI to conduct
further exploration on block 2A. This includes FTG (Full Tensor
Gravity) and 2D seismic coverage over the area of the Anza Basin
underlying the southwest of Simba's Block 2A. FTG has been the most
effective exploration tool for identifying prospects throughout the
East African rift system.
"Africa Oil's upcoming well on the Sala prospect in Block 9 and
Taipan`s planned Pearl-1 well on the south border of Block 2A
strongly suggest that a potential "String of Pearls" trend passes
through the south western corner of our block, as both prospects
are located at the basin edge where this type of play is found. The
Anza basin`s edge passes through the western part of Block 2A",
remarked Simba's CTO & Director, James W. Dick P. Geol., P.
Eng.
The Anza basin is one of the largest Tertiary-age rift basins in
the East African rift system and demonstrates a similar geological
setting to the South Lokichar basin where Tullow and Africa Oil
have recently had significant discoveries.
James W. Dick, director of the Company and qualified person in
accordance with National Instrument 51-101, has reviewed and
approves the technical disclosure in this news release.
About Simba Energy:
Simba Energy Inc. is a Pan‐African oil and gas exploration
company with onshore PSCs in Kenya, Guinea and Chad. Simba focuses
on onshore oil and gas exploration in areas that are under
developed or not previously exploited.
Simba is establishing itself as a diversified international
explorer and developer with a growing oil and gas acreage position
in Africa. The concessions have been chosen for their hydrocarbon
bearing potential and their ability when demonstrated as productive
to accrete significant value for shareholders.
ON BEHALF OF THE BOARD
Robert Dinning, President & CEO
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.
Simba Energy Inc.Mark SommerToll Free: 1-
855-777-4622mark@simbaenergy.ca
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