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Last C$0.02 CAD
Change Today 0.00 / 0.00%
Volume 10.0K
SMB On Other Exchanges
As of 10:22 AM 04/1/15 All times are local (Market data is delayed by at least 15 minutes).

simba energy inc (SMB) Snapshot

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06/9/14 - C$0.09
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simba energy inc (SMB) Details

Simba Energy Inc. explores and develops oil and gas properties in Africa. The company has a 100 % interest in the production sharing contract for Block 2A that covers an area of 7,801.72 square kilometers and is located in Mandera Basin, northeast Kenya; and a 60% interest in the production sharing agreement for Blocks 1 and 2 comprising 12,000 square kilometers and is located onshore in Bove basin, Guinea. It also has a production sharing contract for three oil and gas blocks in the Doba, Doseo, and Erdis basins, Chad. The company was formerly known as Gold Star resources Corp. and changed its name to Simba Energy Inc. in February 2010. Simba Energy Inc. is headquartered in Vancouver, Canada.

simba energy inc (SMB) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: C$120.0K
Chief Financial Officer
Total Annual Compensation: C$48.0K
Managing Director of Operations and Director
Total Annual Compensation: C$120.0K
Compensation as of Fiscal Year 2013.

simba energy inc (SMB) Key Developments

Simba Energy Inc. Provides Update on Activities at Both its Onshore Guinea Concession, Blocks 1 & 2 and Onshore Block 2A, Kenya

Simba Energy Inc. announced updates on activities at both its onshore Guinea concession, Blocks 1 & 2, where Simba currently holds a 60% interest on the PSA (Production Sharing Agreement) and its 100% interest in onshore Block 2A, Kenya. In regard to the company's onshore Blocks 1 & 2 in Guinea, a Joint Committee meeting was held between officials from OGRPP (de l'Office Guineen de Recherche et de Promotion Petrolieres) and Simba Energy in order to review the status of the PSA and update the Joint Committee on the work program carried out by Simba for the current exploration period. The company is pleased to confirm it has fulfilled all requirements and work obligations to date and has also received OGRPP's consent to release the results of the 2013 geochemical sampling program completed as part of a second phase of work after the initial seep survey in 2012. The company collected 1,550 geochemical samples on 500 meter spacing over 29 traverses that covered an extensive portion of the concession. Actlabs (Ancaster, Ontario) carried out sample testing and mapping of these results using their Soil Gas Hydrocarbon (SGH) analyses. Results were very positive identifying six separate & sizeable prospective target areas. Of these, two areas T1 (700+kms²) & T2 (+/-200kms²) were ranked highly by Actlabs, at a 5.5 out of a possible 6.0 for T1 and 4.0 out of a possible 6.0 for T2, as being related to an oil play and clearly demonstrating an excellent relationship between potential traps and source rock. Block 1 & 2's entire concession area lies within a key portion of the Bove Bsin that hosts Silurian shales and an extensive active petroleum system. This FTG (Full Tensor Gradiometry) will be modeled on the FTG program that the company recently executed on Block 2A in Kenya, where the data produced valuable/visible results that confirmed a number of significant leads and prospects which are now targeted for further 2D seismic to finalize drilling locations.

Simba Energy Inc. Auditor Raises 'Going Concern' Doubt

Simba Energy Inc. filed its Annual on Oct 29, 2014 for the period ending Jun 30, 2014. In this report its auditor, Davidson & Company, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Simba Energy Inc. Announces Operating Results from its Block 2A Concession in Keny

Simba Energy Inc. announced it is in receipt of Bell Geospace's final report and results from their aerial FTG (Full Tensor Gradiometry) survey analysis and interpretation at it's Block 2A concession in Kenya. In summary the results have identified five structural features with independent closures varying in size from 30kms² to +100kms² in both the Mandera and Anza basins. Given the FTG results, the Company is able to better focus and narrow the area and extent of the now planned 2D seismic program necessary to further develop drilling locations. The planned seismic program will focus on the three ranking & sizeable targets identified by the FTG in both basins. The map provided below highlights the FTG survey's results. The FTG results will inform the design and planning to acquire 2D seismic over the specific FTG anomalies observed in both basins. An area in the Mandera basin that covers the two sizeable `primary' and one `secondary' target areas designated as M1 & M3 (prospects) and M2 (lead) is estimated to require +/-175 line kilometers, while an additional 100 kms are estimated for the Anza basin to cover leads A1, A4 and A5. 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 (just to the north of Block 2A's northern boundary) has confirmed marine origin source rocks deeper in the basin in Lower /Mid Jurassic formations, and; the Anza basin, one of the Tertiary-age rift basins in the East African rift system and with a geological setting similar to the South Lokichar basin where Africa Oil and Tullow have recently had significant discoveries.


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