Essel Group Middle East (“EGME”) and Simba Energy Inc. (“Simba”) (TSX Venture: SMB)(Frankfurt: GDA) (OTCBB: SMBZF) are pleased to announce that the 2D seismic acquisition programme on Block 2A in Wajir, Kenya has been successfully completed.
The survey, which was carried out by Africa Geophysical Services Ltd. (“AGS”), has acquired a total of five hundred and twenty (520) kilometres of 2D seismic lines on the Block 2A which lies within the Mandera basin in Eastern Kenya.
James W. Dick, P. Geol., P. Eng., Chief Technical Officer of Simba along with external consultants Xodus, PGS and EPI confirmed that the data quality was excellent and its coverage combined with the historical 2D seismic, the Full Tensor Gradiometry (“FTG”) and Passive Seismic (“IPDS”) has provided an excellent picture of the structural and depositional style of the Mandera Basin in Block 2A.
The specific aim of the seismic survey was to evaluate and detail the present prospects as well as to use the enhanced quality of the data to seek out additional leads previously not identified due to old chaotic data in the historical 2D seismic. The current survey met and exceeded all of its objectives.
Currently the lines are being processed with very good results. Preliminary interpretations of the structural and stratigraphic data, based on fast-track seismic sections, are promising. The combination of the previous work and the recent data acquisition has resulted in a significant improvement in understanding of the depositional environment and refinement of structure. In particular, the relationship between the FTG, IDPS and the recent 2D seismic acquisition adds a much higher level of prospectivity for the block.
Integrated interpretation work will begin soon on all existing datasets and mapping the various levels to evaluate optimum locations for drilling. The ultimate objective is to find the optimum location for the first exploration well on Block 2A. This work is expected to be completed in the near future.
Punkaj Gupta, Joint Managing Director & Group Chief Executive of EGME said:
“The completion of the 2D seismic acquisition programme is another major milestone for Block 2A. We are greatly encouraged by the early interpretations of the results and the survey has shown that the asset contains very favourable structural and stratigraphic conditions. We remain on course to meet our target of commencing drilling later this year and we are confident about the prospects for Block 2A.”
For further information please contact:
Kriti Ladsaria, Essel Group Middle East +971 42793955
Dorothy Burwell / Charles O’Brien, Finsbury +44 (0)20 7251 3801
Mark Sommer, Simba Energy +1 604 629 9647 / +1 855 777 4622
EGME is a diversified conglomerate operating primarily in the Europe, Middle East, Africa and Asia pacific region.
EGME is part of Essel Group, the Indian multinational conglomerate operating in a broad spectrum of industries including media, packaging, infrastructure and technology. Building on Essel Group’s 90 year history of developing and promoting businesses, EGME is leading the Group’s regional expansion and currently operates subsidiary businesses in the natural resources, energy, industrial supply and logistics, education and financial services sectors. For further information, please visit www.esselgroupme.com
About Simba Energy Inc.
Simba Energy Inc. provides investors with well positioned exposure to oil and gas exploration in key areas of Africa with active onshore production sharing contracts (“PSCs”) in Kenya and Guinea and PSCs under continuing negotiation in Chad, Liberia and Ghana. Simba’s mission is to focus on onshore oil and gas potential in areas that are under-developed or not previously exploited. For further information, please visit http://www.simbaenergy.ca/