Simba Energy Identifies Three Significant Oil Seeps In Guinea
Simba Energy Inc. ("Simba" or the "Company") (TSXV: SMB, OTCQX: SMBZF, Frankfurt: GDA), the pan-African oil & gas explorer, is pleased to report it has identified three additional and significant seeps during its initial phase of 2013 exploration work on Blocks 1 & 2 in the Republic of Guinea’s Bove Basin.
“Further to our site visit last summer that identified and confirmed a number of known seep areas within Block 2, these three additional seep areas (two in Block 1), from Paleozoic rocks, are impressive and clearly the best seeps seen to date. They certainly increase the prospectivity of both the blocks with the presence of higher C hydrocarbons. A number of samples have been sent to the lab for analysis.” remarked James W. Dick, Director and CTO for Simba.
In view of the results to date, the Company now plans to focus its initial exploration work in the Republic of Guinea on Block 1 and the northern part of block 2.
The Company is planning a geochemical survey to collect 2,000 samples covering 1,000 line kilometers mostly within Block 1 to focus upcoming phases of exploration. Crews will be mobilized within the next month with completion anticipated shortly thereafter.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. 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts