Simba Energy announces further 2D seismic work in Kenya

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Simba Energy 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.

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