Simba Energy reopens discussions with interested parties in Kenya’s block 2A

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Canadian explorer Simba Energy has reported that following positive results of the Company’s most recent FTG (Full Tensor Gradiometry) survey and final report by Bell Geospace, the Company has reopened its data room and, with the assistance of Ernst & Young’s Corporate Finance Oil & Gas division in London, has resumed discussions with numerous parties interested in participating in the development of Block 2A in Kenya.

According to Simba Energy the results of the high resolution Gravity Gradiometry™ by Bell Geospace identified five structural features with independent closures varying in size from 30kms² to +100kms² in both the Mandera and Anza basins that compare favourably to earlier discoveries in the region.

To further delineate drilling locations Simba says it is planning a more focused 2D seismic acquisition program over the basin.

“We’re pleased to report that these very encouraging FTG results have increased the level of interest in Block 2A considerably.”, remarked Robert Dinning, President & CEO.

Significant activity is underway directly surrounding Block 2A (Simba at 100% interest), with three wells scheduled to be drilled and completed this year: Sala-2 (Africa Oil, 50% interest), Badada-1 (Premier Oil, 55% interest), and Khorof-1 (Afren, 80% interest) which speaks highly to the area’s exploration potential.

Simba’s Block 2A concession covers an area of over 7,800 km² that overlies portions of two very prospective basins, each with proven hydrocarbon systems: The Mandera basin where the Tarbaj oil seep (to the north) has confirmed marine origin source rocks deeper in the basin in Lower / Mid Jurassic formations.

In the Anza basin (one of the largest Tertiary-age rift basins in the East African rift system) there is a geological setting similar to the South Lokichar basin where Africa Oil and Tullow have recently had significant discoveries.

The pan-African oil & gas explorer Simba Energy Inc. currently holds a 100 % interest in the Production Sharing Contract (PSC) for this concession.

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