2D Seismic in Kenya’s Block 2A To Commence in May 2016

Simba Energy has said that through its subsidiary Company Simba Africa Rift Limited together with its farm in partner Essel Group ME (EGME), have agreed that the 2D Seismic Data Acquisition and Processing program will cover approximately 500 line km of survey to commence in early May 2016.

Simba says it expects that preliminary field work and mobilization will commence in mid to late April, 2016 before the full survey with the work set to take about 60-75 days to complete to be followed by interpretation of the data.

Simba adds a contract has been executed with Africa Geophysical Services LLC, (AGS) for the purpose of 2D Seismic Data Acquisition and Processing on Block 2A Wajir, Kenya.

“We are pleased to finalize this contract and to commence the field work to obtain the necessary data. This will allow the Company to plan a drill program later this year.” said Robert Dinning, President and CEO, Simba Energy Inc.

The next phase of the exploration will see EGME and Simba Energy Inc. jointly acquire an oil drilling rig.

“The drilling process will start as soon as we get a positive seismic result”, commented Gagan Goel, MD EGME and Vice – Chairman, Simba Energy Inc.

The passive seismic data earlier 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.

Simba Energy Inc had earlier also undertaken an airborne FTG survey (Full Tensor Gradiometry) to cover new and significant target area identified by preliminary FTG results received to date with the aircraft initially covering the secondary smaller survey area (850kms²) at the southwest boundary of Block 2A in order to investigate the area within the Anza basin.

Earlier in the year Simba Energy had raised $2.1 million to fund exploration commitments associated with the Company’s Production Sharing Contracts in Kenya with the 2D seismic earlier set for early 2016.

JV partner Essel also has agreed to a minimum exploration program for Block 2A comprising additional 2D seismic, possible 3D seismic, and drilling on at least two prospects over the next 12 to 18 months, with a minimum estimated cost of $60 million USD.