{"id":5886,"date":"2017-04-24T20:06:22","date_gmt":"2017-04-24T20:06:22","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=5886"},"modified":"2017-04-24T20:06:22","modified_gmt":"2017-04-24T20:06:22","slug":"simba-energy-approves-essel-group-transactions-rebrands-to-simba-essel","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/simba-energy-approves-essel-group-transactions-rebrands-to-simba-essel\/","title":{"rendered":"Simba Energy Approves Essel Group Transactions, Rebrands to Simba Essel"},"content":{"rendered":"<p>Simba Energy has announced that at its recent annual general meeting 97.8% of the common shares held by disinterested shareholders voting at the AGM were voted in favour of ratifying, confirming and approving the two agreements the Company had entered into with Essel Group Middle East DMCC in 2015.<\/p>\n<p>Pursuant to the first agreement, dated June 15, 2015, EGME was <a href=\"http:\/\/bit.ly\/2pXufK9\">granted<\/a> the right to earn a 60% interest in Simba\u2019s production sharing contracts in Kenya, Chad and Guinea by contributing 100% of the funding to carry out an exploration program on the PSCs, which funding would be provided by EGME.<\/p>\n<p>In November 2015, the Company entered into a definitive <a href=\"http:\/\/bit.ly\/2oECzg4\">farmout<\/a> agreement with EGME on Block 2A in Kenya wherein EGME may earn a 60% participating interest in Block 2A by funding 100% of exploration expenses until the completion of 2 conventional wells on Block 2A.<\/p>\n<p>Given the receipt of shareholder approval, the TSX Venture Exchange has advised that it has no objection to Simba proceeding with the EGME transactions.\u00a0 In addition, the Company has changed its name to \u201cSimba Essel Energy Inc.\u201d effective on Monday, April 24, 2017.<\/p>\n<p>The Company\u2019s shareholders re-elected the incumbent board of directors, approved the appointment of PricewaterhouseCoopers LLP as the Company\u2019s new auditor, re-approved the Company\u2019s stock option plan and ratified, confirmed and approved the issuance of 600,000 common shares to Hassan Hassan as part of a shares for debt settlement of management fees owed to a corporation controlled by Mr. Hassan.<\/p>\n<p>The Board of Directors are to meet next week to review the <a href=\"http:\/\/bit.ly\/2paY1uV\">seismic programme<\/a>, and other related data assembled in preparation of a drill program later this year on Block 2A.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Simba Energy has announced that at its recent annual general meeting 97.8% of the common shares held by disinterested shareholders voting at the AGM were voted in favour of ratifying, &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/simba-energy-approves-essel-group-transactions-rebrands-to-simba-essel\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[273,434,3301,874,1053,1252,2272,2312,6096,6097],"class_list":["post-5886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-block-2a","tag-chad","tag-essel-group-middle-east","tag-farmout","tag-guinea","tag-kenya","tag-seismic","tag-simba-energy","tag-simba-essel","tag-tsx-venture-exchange","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/thumnail_simba_energy.jpg?fit=300%2C200&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1wW","jetpack-related-posts":[{"id":7206,"url":"https:\/\/www.oilnewskenya.com\/index.php\/simba-essel-seeks-drilling-permit-block-2a\/","url_meta":{"origin":5886,"position":0},"title":"Simba Essel Seeks Drilling Permit for Block 2A","author":"","date":"October 24, 2018","format":false,"excerpt":"Block 2A operator Simba Essel has submitted a technical presentation to the Ministry as part of their application to obtain a formal permit to drill after review of data pertaining to the interpretation of seismic data from the recent survey which produced a total of five hundred and twenty (520)\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/10\/Block-2A.png?fit=663%2C586&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/10\/Block-2A.png?fit=663%2C586&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/10\/Block-2A.png?fit=663%2C586&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5595,"url":"https:\/\/www.oilnewskenya.com\/index.php\/simba-essel-group-middle-east-complete-2d-seismic-data-acquisition-on-block-2-a\/","url_meta":{"origin":5886,"position":1},"title":"Simba, Essel Group Middle East complete 2D seismic data acquisition on block 2-A","author":"","date":"December 16, 2016","format":false,"excerpt":"Simba Energy and\u00a0Essel Group Middle East\u00a0have announced that the 2D seismic acquisition program on Block 2A in Wajir, Kenya has been successfully completed by Africa Geophysical Services Ltd (AGS). The survey has acquired a total of 520 kilometres of 2D seismic data on the block lying within the Mandera basin.\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/block-2a.png?fit=301%2C269&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6561,"url":"https:\/\/www.oilnewskenya.com\/index.php\/simba-essel-acquire-3d-seismic-kenyas-block-2a-ahead-drilling\/","url_meta":{"origin":5886,"position":2},"title":"Simba Essel to Acquire 3D Seismic in Kenya\u2019s Block 2A Ahead of Drilling","author":"","date":"November 22, 2017","format":false,"excerpt":"Simba Essel has announced that following a review of the Sproule report, (the 51-101 report) it now plans to proceed with a 3D seismic program covering approximately 160 square kilometers over its most promising area in early 2018 as OilNews Kenya had earlier reported. The 3D seismic is expected to\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Block-2A-seismic.jpg?fit=1000%2C563&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Block-2A-seismic.jpg?fit=1000%2C563&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Block-2A-seismic.jpg?fit=1000%2C563&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/11\/Block-2A-seismic.jpg?fit=1000%2C563&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3054,"url":"https:\/\/www.oilnewskenya.com\/index.php\/simba-energy-enters-agreement-essel-group-middle-east-invest-3-african-countries\/","url_meta":{"origin":5886,"position":3},"title":"Simba Energy Enters Into Agreement With Essel Group Middle East To Invest In 3 African Countries","author":"","date":"June 8, 2015","format":false,"excerpt":"Simba Energy has announced it has executed an Agreement with Essel Group Middle East, of Dubai, UAE, a subsidiary of Essel Group India, wherein Essel Group will earn a 60% participating interest in Simba's existing Production Sharing Contracts (PSC's) in Kenya, Chad and Guinea. Simba will be carried on all\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/thumnail_simba_energy.jpg?fit=300%2C200&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5079,"url":"https:\/\/www.oilnewskenya.com\/index.php\/essel-simba-to-acquire-new-rig-to-drill-kenyas-block-2a\/","url_meta":{"origin":5886,"position":4},"title":"Essel, Simba to Acquire New Rig to Drill Kenya\u2019s Block 2A","author":"","date":"August 25, 2016","format":false,"excerpt":"Essel Group Middle East a joint venture partner in Kenya\u2019s Block 2A has announced it has entered into a definitive agreement to acquire a new skid mounted drilling rig as it prepares to drill in the license in Q4 2016. Essel Group says that DNV GL, the world-leading classification society\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/07\/Block-2A.png?fit=505%2C611&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4518,"url":"https:\/\/www.oilnewskenya.com\/index.php\/2d-seismic-in-kenyas-block-2a-to-commence-in-may-2016\/","url_meta":{"origin":5886,"position":5},"title":"2D Seismic in Kenya\u2019s Block 2A To Commence in May 2016","author":"","date":"March 22, 2016","format":false,"excerpt":"Simba Energy has said that through its subsidiary Company Simba Africa Rift Limited together with its farm in partner Essel Group ME (EGME), have agreed that the 2D Seismic Data Acquisition and Processing program will cover approximately 500 line km of survey to commence in early May 2016. Simba says\u2026","rel":"","context":"In &quot;Top News&quot;","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"wajir passive seismic","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/wajir-passive-seismic-300x200.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=5886"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5886\/revisions"}],"predecessor-version":[{"id":5887,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5886\/revisions\/5887"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/344"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=5886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=5886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=5886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}