Simba Energy

Simba Energy Inc. is an oil & gas exploration company focused on overlooked and under explored basins in Africa. Simba holds a Production Sharing Contracts in Kenya and Republic of Guinea. Simba also has a Hydrocarbon Reconnaissance License in Liberia and is in advanced negotiations for Production Sharing Agreements in Mali and Ghana

TSX-V: SMB | FSE: GDA | OTCQX: SMBZF

To view Simba Energy's Smartstox Video please click here

Simba Energy in West Africa

Kenya

Simba Energy has been granted a Production Sharing Contract (PSC) by the Ministry of Energy, Republic of Kenya for Block 2A, comprising 7,801.72 square kilometres in northeast Kenya.

Block 2A overlies the southern tip of the Mandera Basin while the southwest corner of the block extends into the Anza Basin. Block 2A also has excellent potential for significant oil and gas discoveries as evidenced by the following evaluation.

Click here for highlights on Simba's Block 2A

Guinea

Simba Energy has signed an Agreement to acquire a 60% interest in the Production Sharing Agreement (PSA) for Blocks 1 & 2 comprising 12,000 square kilometres onshore in the Republic of Guinea’s Bove basin.  After conducting both site investigation and detailed review of available technical data, the company’s geological staff concluded Blocks 1 & 2 represent significant potential for oil and gas in a basin that remains relatively underexplored.

A work program, including planning for commencement of a seismic program, will proceed immediately after receipt of final approval from the Minister of Mines. Simba recently conducted a detailed review of technical data on Blocks 1 & 2 and concluded a significant potential for oil and gas exists.

Click here for highlighs on Blocks 1 & 2.

Liberia

The Company acquired 90% of International Resource Strategies Liberia Energy, Inc. (“IRSLE”), a private company domiciled in Liberia, West Africa. IRSLE is the holder of the onshore reconnaissance license for the Roberts and Bassa basins.

This onshore reconnaissance license covers the 1,366 sq kms of the onshore coastal strip of Liberia lying within the known extent of the Roberts-Bassa Basin.  Although there are no published studies of this basin, existing field and geological outcrop data produced by the US Geological Survey indicate that it is connected laterally and down-dip with the West African – Atlantic conjugate continental margin.

Current Activities

During the month of January, 2010, James Dick, supervised an exploration team that carried out an extensive oil seep survey over the most prospective portion of the onshore reconnaissance licensed area in Liberia, West Africa. The expedition included a ground crew of 25 geology students from the University of Liberia who in turn traversed a 125-square-kilometre area of rivers and tidal mangrove swamps, collecting and recording extensive data and samples.

At the conclusion of the oil seep search and after careful evaluation, consulting geologist Mr. Dick stated: "The high volatile oil associated with the seeps is positive indication of mature oil. The basin is either deep enough to have temperature and pressure levels capable of maturation or migration has come from offshore sediments."

The initial focus of the oil seep survey concentrated on two areas, the Marshall City area where oil seeps have been reported for several years, and the airport area where the company lacked anecdotal information, with the objective to confirm the previously indicated oil seeps and expand the area of proven oil seeps.

Oil seeps were found on all traverses (15) covering an area of about 125 square kilometres. Each sighting had numerous seeps in close proximity. Samples of water and soil were taken at each sighting and from pits offsetting seeps at the best seep in each area. Clay and sand were sealed in plastic bags and water samples were placed in sample bottles. Iridescent sheen and bubbles floating on water, bubbles from bottom in shallow water, identified the seeps and often there was kerosene smell. The hydrocarbon present is very volatile, disappears very quickly, was only seen entering fresh pits and is positive indication of mature oil.

While remaining active with its efforts in Liberia the Company continues to pursue other opportunities both along the Gulf of Guinea as well as throughout Africa (eg: Ghana, Ivory Coast, Angola, Mali, Democratic Republic of Congo, Nigeria, Somolia).

Hydrocarbon Seep Study

Previous Exploration

Katana Resources (Calgary) carried out the last known onshore exploration program in Liberia in 1980 by performing a $500,000 survey program to identify onshore targets for a drilling program.   At this time, having discovered extensive oil seeps and determining the underlying geology conformed to that of a significant onshore oil basin supported an optimistic billion barrel resource target that was onshore, relatively shallow and comparable to the Gulf coast.  However, due to civil unrest, Katana Resources was forced to abandon its planned drilling program. 

James Dick, now a director for the Company and petroleum geologist was Katana Resources’ consulting geologist at this time. James has recently visited Liberia for the Company, has been to the basin and has verified and identified 15 oil seeps over 125 sq. kms.

The Company’s senior management team is comprised of seasoned individuals with esteemed careers in petroleum exploration and development, corporate finance and public company sectors.

Robert Dinning, President, CEO & Director

Robert Dinning is a Chartered Accountant who has operated his own consulting business for the past 30 years and he brings effective management and administrative experience to Simba Energy.  His proven record of success in the financial community includes being a Director and/or Officer of several public companies, including Industrial Mineral Inc., ATAC Resources Ltd., Rockhaven Resources Ltd., Apolo Gold & Energy and Sonora Gold & Silver Ltd. ,Chairman of Paramount Gold and Silver. Mr. Dinning resides in Vancouver , B.C., Canada.

Jim Dick, p, Geol., P. Eng, Senior Geologist, B.A. Honors Geology University of Saskatchewan 1962

James W. Dick P Geol., P. Eng., (APEGGA) and Honors Geology University of Saskatchewan 1962 is a Petroleum Specialist with in excess of 48 years of petroleum industry experience.   At the present he is president and prime consultant of J W Dick & Associates Ltd which has for 30 years served a variety of clients including major oil companies, government agencies, and start-up companies.    He spent 18 years with Exxon group reaching Senior Exploration Specialist level. Also he was Vice President Geology for the D&S International Consulting   (10yrs) a large international consulting group, president of Quad Energy Development Corp. (10yrs) a public oil company and   Chief Geologist for Mercantile International Petroleum Inc.

Charles de Chezelles

Charles de Chezelles is a highly experienced financial industry expert. Past positions include: General Manager, Banco Real SA, London; Executive Director, Credit Suisse-First Boston (CSFB), London; Director, First Boston Europe, London; Vice President, The First Boston Corporation, New York; Corporate Account Executive, Smith Barney, New York; Investment Analyst, Stralem & Company, New York. He is currently Managing Director of Omega Trust Company Limited (London); Mr de Chezelles sits on the Board of several financial companies and Trusts.

John King Burns, Director

Mr Burns is a former Managing Director and Global Head of Structured Derivative Finance for Barclays Metals Group, Barclays Bank PLC, London .

Mr. Burns is an experienced international executive in the global resource sector and is currently a director of Hunter Energy LLC, in Centennial Colorado, a director of NuCoal Energy Corp in Saskatoon, Saskatchewan, Senior Project Advisor to Potomac Asset Management Co, in Frederick Maryland, and a director of NovaDx Ventures Corp, a publicly-traded investment firm that provides capital investment, investment banking, financial and business advisory services to early-stage natural resource exploration companies.

Keith Margetson, CA

Mr. Margetson qualified as a chartered accountant in 1975 and has operated his own accounting firm since 1992. He has 15 years experience with public companies, both as an auditor and in providing other professional services.

Shares Issued & Outstanding:  93.5 Million

For further information please click here