VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2012) -
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Simba Energy Inc. ("Simba" or the "Company") (TSX VENTURE:SMB)(FRANKFURT:GDA)(OTCQX:SMBZF), the pan-African oil & gas explorer, is pleased to announce the successful completion of the first phase of field work on Block 2A, onshore Kenya where the Company currently holds a 100 % interest in the Production Sharing Contract (PSC) for this concession.
The passive seismic data collected from 218 listening stations covered the Company's existing three leads. Data results obtained were reported by GeoDynamics Worldwide as being of high (clean) quality and expected to correlate well with existing 2D seismic during processing. The final report and interpretations are expected soon. Additionally the Company carried out the collection of 675 geochemical samples on Block 2A. These will be analyzed with results being incorporated into the Block 2A geological interpretation.
At the strongest lead, with 4-way closure already confirmed by reprocessed 2D seismic, the passive seismic survey's preliminary field data considerably increased the exploration potential and resulted in the decision to infill the listening pattern. The Company's technical team will now follow up with targeted 2D and or 3D seismic programs in order to better determine the location of its first exploration well on this concession.
To highlight the program's success, Simba's Chief Technical Officer & Director, and Qualified Person in accordance with NI 51-101, James Dick remarked, "I am very pleased with the results of this program to date. After the passive seismic data has been processed and interpreted our plan had been to shoot up to 500 kilometres of 2D seismic. Now a smaller amount of 2D and or 3D seismic is required to locate the first well. This passive seismic survey has accelerated the exploration phase on Block 2A and has moved us closer to a drilling program. Getting to this stage so early in the exploration program is a very positive development for the Company and its shareholders."
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.
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ON BEHALF OF THE BOARD
Robert Dinning, President & CEO.
About Simba Energy Inc.
Simba Energy Inc. is a Pan African oil & gas exploration company focused on onshore opportunities across Africa. Simba holds a 100% Production Sharing Contract (PSC) for Block 2A in Kenya, 60% interest in Blocks 1 and 2, onshore Republic of Guinea, and has Block 3 (onshore) Mali. Simba also has applications pending for onshore blocks in Liberia and Ghana.
About GeoDynamics Worldwide
GeoDynamics Worldwide is an international oil service and investment company with offices in Italy, the United Kingdom, USA and Abu Dhabi. Its main objective is to help fellow oil and gas companies reduce risk in all phases of hydrocarbon field management including exploration, hydrocarbon identification, development drilling, production monitoring and field rejuvenation, through the application of low frequency passive seismic methods as a positive hydrocarbon indicator. See GeoDynamics Worldwide's website, www.gww.uk.com for further details.
We seek safe harbor.
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