FSC / Press Release
Simba Energy Sets New Option Pricing
Vancouver, British Columbia CANADA, October 25, 2012 /FSC/ - Simba Energy Inc.
("Simba" or the "Company") (TSXV: SMB; Frankfurt: GDA; OTCQX: SMBZF),announces
that is has re-priced a total of 4,550,000 options held by directors and
officers of the Company from $0.20 per share to $0.13 per share. The re-pricing
of these options is subject to the approval of disinterested shareholders, which
approval will be sought at the Company's Annual General and Special Meeting
scheduled for December 18, 2012. The Company also announces that is has
re-priced a total of 1,200,000 options held by consultants of the Company from
$0.20 per share to $0.13 per share. The re-pricing of all the foregoing options
is subject to the acceptance of the TSX Venture Exchange.
About Simba Energy:
The Company is a Vancouver, BC Canada based oil & gas exploration company
focused on onshore Pan-African opportunities. It has recently signed a
Production Sharing Contract ("PSC) with the Republic of Chad for 100% interests
in three prospective oil & gas blocks within the Doba, Doseo and Erdis basins.
The Company now holds a diversified portfolio of majority or 100% interests in
several prospective oil & gas exploration assets. Simba has recently completed
and is awaiting final results of the passive seismic survey carried out at its
Block 2A in Kenya, where it currently holds a 100% interest, and is actively
pursuing formal farm-in discussions with a number of interested parties.
Additionally the Company holds a 60% interest in Blocks 1 & 2, onshore Republic
of Guinea with current efforts to finalize the first work program with the
energy ministry now underway. The Company is also the successful applicant for
Block 3 in Mali and has applications pending for onshore blocks in Liberia and
We seek safe harbor.
ON BEHALF OF THE BOARD
"Robert Dinning", President & CEO.
For further information contact: Ph. 604-641-4450, or visit:
http://www.simbaenergy.ca , or email: firstname.lastname@example.org , or Mark Sommer, Toll
Free: 1-855-777-4622, or;
In the UK, Jonathan Charles, email@example.com ,?+ 44 (0)779 189 2509.
To view this press release as a webpage, please click on the following link:
Source: Simba Energy Inc. (TSX-V: SMB) (OTCQX: SMBZF) (Frankfurt: GDA)
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-0- Oct/25/2012 19:55 GMT
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