Simba Energy Announces Passive Seismic Survey Results, Block 2A,
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/05/12 -- Simba
Energy Inc. ("Simba" or the "Company") (TSX
VENTURE:SMB)(FRANKFURT:GDA)(OTCQX:SMBZF), the pan-African onshore oil
& gas explorer, is pleased to announce the results of the Infrasonic
Passive Differential Spectroscopy (or "passive seismic") survey
recently completed over Block 2A, Kenya, where it has a 100% working
The original undertaking was to investigate and ascertain the
hydrocarbon potential at the Company's three targets (P1, P2, P3) by
first employing a block survey using passive seismic to confirm or
identify areas of hydrocarbon potential to be followed up with 2D
seismic for structure definition.
This first phase of passive seismic has confirmed P1 to be comprised
of two distinct and sizeable leads with excellent hydrocarbon
response lying east and SSE of the city of Wajir. The first lead in
P1 with an area of 29km2 demonstrates the highest level of
hydrocarbon seismic energy interpreted amongst all seven potential
leads identified by the survey; the second and likely related lead is
over 100km2 in size with good response for hydrocarbon potential and
lies from 8km to 20km+ to the SW.
At P2, several additional interconnected leads have been identified
with good hydrocarbon response that is not seen with the current 2D
seismic. The third lead, P3, has also been confirmed as a prospective
lead where response fit exceptionally well with present 2D coverage.
James W. Dick, P. Geol., P. Eng., Simba's Chief Technical Officer and
a director of the Company said, "Here on Block 2A, in a manner
complemented by our existing 2D data, the passive seismic survey has
discovered four more potential leads for follow up at our primary and
secondary leads (P1 & P2) and confirmed good potential for
hydrocarbons. We now have sufficient information and are comfortable
that an additional small survey of 2D seismic has the potential to
further upgrade our P1 & P2 target areas with some prospects that
easily support a decision to drill."
The Company now intends to carry out at a minimum 200km of 2D seismic
to finalize the location and designed depth for the Company's first
exploration well at P1. Pla
nning and preparation for this work is now
underway and anticipated to begin in early 2013.
James Dick, P.Geol., P.Eng., 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.
To view a map of the areas identified with hydrocarbon potential by
the passive seismic survey on Block 2A please visit the Company's
website or click here.
About Simba Energy:
Simba Energy Inc. is an international oil & gas exploration company
focused on onshore Pan-African opportunities. The Company now holds a
diversified portfolio of 100% or majority or interests in several
prospective oil & gas exploration assets in Kenya, Chad and Guinea.
In addition to its 100% interest in Kenya's Block 2A the Company
holds a 60% interest in Blocks 1 & 2, onshore Republic of Guinea and
has recently signed a Production Sharing Contract (PSC) with the
Republic of Chad for a 100% interest in three prospective oil & gas
blocks within the Doba, Doseo and Erdis basins.
The Company is also the successful applicant for Block 3 in Mali.
Simba's objective is to establish itself as a diversified
international developer and producer with a growing oil & gas acreage
position with significant upside potential for shareholders.
ON BEHALF OF THE BOARD
Robert Dinning, President & CEO.
We seek safe harbour.
Simba Energy Inc.
Ph. 604-641-4450 / Toll Free: 1-855-777-4622
Financial Public Relations (UK)
+ 44 (0)779 189 2509
Press spacebar to pause and continue. Press esc to stop.