Simba Energy Inc. (Simba) is pleased to report that following positive results of the Company’s most recent FTG (Full Tensor Gradiometry) survey and final report by Bell Geospace, the Company has reopened its data room and, with the assistance of Ernst & Young’s Corporate Finance Oil & Gas division in London, has resumed discussions with numerous parties interested in participating in the development of Block 2A in Kenya.
The results of the high resolution Gravity Gradiometry™ by Bell Geospace has identified five structural features with independent closures varying in size from 30kms² to +100kms² in both the Mandera and Anza basins that compare favourably to earlier discoveries in the region. As a result the Company is planning a more focused 2D seismic acquisition program to further delineate drilling locations.
It is noted that significant activity is underway directly surrounding Block 2A (Simba at 100% interest), with three wells scheduled to be drilled and completed this year: Sala-2 (Africa Oil, 50% interest), Badada-1 (Premier Oil, 55% interest), and Khorof-1 (Afren, 80% interest) which speaks highly to the area’s exploration potential.
“We’re pleased to report that these very encouraging FTG results have increased the level of interest in Block 2A considerably.”, remarked Robert Dinning, President & CEO.
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