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Simba Energy Change its Board of Directors

Source: 3/16/2016, Location: North America

Simba Energy Inc. (Simba) announces that Mr. Punkaj Gupta, has been appointed to the Board of Directors of the Company to replace Mr. James W. Dick, who has resigned from the Board. Simba thanks Mr. Dick for his efforts and contributions to the Company as a Board member. Mr. Dick will continue to provide technical services to Simba as Chief Technical Officer, in the development of its portfolio of assets throughout Africa.

Mr. Gupta, a resident of Dubai, UAE, is presently the Group Chief Executive Officer of Essel Group ME. He has a Masters’ degree in Economic, Business Management and Finance. He has an extensive international background in industry and government affairs. He has worked with the United Nations and various government and international trade bodies and has advised on policy making. His extensive industry experience and expertise comes from the steel industry, mining and finance. As noted in the Company’s news release dated December 3, 2015, the Company has entered into a definitive farm out agreement with Essel Group ME on Block 2A in Kenya wherein Essel Group ME will earn a 60% participating interest in Block 2A by funding 100% of exploration expenses until the completion of the drilling of 2 conventional wells on Block 2A.

“We are delighted that Punkaj Gupta has joined our Board of Directors. He adds an extensive background in international affairs including mining and the steel industry that will be very helpful as Simba develops its assets on the African continent.” said Robert Dinning, President and CEO.

Essel Group ME is part of Essel Group India, a business conglomerate that has over the past three decades achieved diverse and prominent growth across media, entertainment, packaging, infrastructure, precious metals, and energy and technology sectors. The Essel Group has recently endeavored to diversify further with investments into the hydrocarbon resource sector and has committed full support to advance Simba’s African O & G portfolio through the exploration and appraisal phases in accordance to each governing PSC by way of joint operating agreements on a per asset basis.

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