The third concession, Erdis Block III, totalling 15,700km², is located in the southern portion of the Erdis basin (known as the Kufra basin in Libya) which covers approximately 400,000km² extending across NE Chad, NW Sudan, and SE Libya. The Erdis basin is one of several adjacent intracratonic basins across North Africa that share sedimentological and geological history and together form a Palaeozic mega-province where significant current production already exists and substantial potential remains underexplored. There are numerous oil discoveries to the north in Libya while recent seismic on Sudan’s Block 14 to the east looks prospective with two wells planned. With sediments to 11,000 metres ensuring maturity is present, gravity across the entire block also indicates the presence of a major deposition center, which enhances major reservoir development.To view maps providing location and details of Simba Energy’s above concessions in the Republic of Chad, please visit the Company’s website at www.simbaenergy.ca or select the following link: www.simbaenergy.ca/projects/chad.aspx About Oil Production in Chad: With current proven reserves over 1.5 billion barrels, exploration for oil in the Republic of Chad dates back to the 1960’s with first discoveries being made by the mid ‘70’s by the Esso Chad Consortium (ExxonMobil, Chevron, Petronas) and China National Petroleum Corporation (CNPC). The Consortium discovered six fields that have combined reserves of almost a billion barrels of oil. In 2003, the Chad-Cameroon export pipeline was completed. Production from Esso Chad peaked at 220,000b/d and is currently around 115,000b/d or 50% of capacity. Over 400 million barrels of oil have been produced from Chad in the last eight years. James Dick, P.Geol., P.Eng., Director, and Qualified Person in accordance with National Instrument 51-101, has reviewed and approves the technical disclosure in this news release. About Simba Energy Inc. Simba Energy Inc. is an onshore Pan African oil & gas exploration company focused on onshore opportunities across Africa. In addition to having just secured these blocks in Chad, the Company holds 100% interest in the Production Sharing Contract (PSC) for Block 2A in Kenya, 60% interests in Blocks 1 & 2, onshore Republic of Guinea and is awaiting finalizing the PSC for Block 3 in Mali. It also has applications pending for onshore blocks in Liberia and Ghana.
ON BEHALF OF THE BOARD"Robert Dinning", President & CEO