http://seekingalpha.com/article/242358-go-long-on-oil-equities-steve-palmer?source=yahoo Website: http://www.simbaenergy.ca/
Share in issue 226 million
Warrants 53.8 million
Options 12 million
Fully diluted 291.8 million
As of Sep 24, 2102
Major institutional shareholders include:
• Alpha North
• Pinetree Capital
• Expedition Capital (Hong Kong)
• Prophet Fund
Simba is seeking a full Toronto
listing for an eventual dual-listing
onto London's AIM Market.
Low free float and high Insider and Institutional Holdings
100% interest in Onshore Block 2A (7,801.72 km2) overlies the southern tip of the Mandera Basin while the southwest corner of the block extends into the Anza Basin.
Block 2A also has excellent potential for significant oil and gas discoveries.
The original undertaking was to investigate and ascertain the hydrocarbon potential at the Company's three targets (P1, P2, P3) by first employing a block survey using passive seismic to confirm or identify areas of hydrocarbon potential to be followed up with 2D seismic for structure definition.
This first phase of passive seismic has confirmed P1 to be comprised of two distinct and sizeable leads with excellent hydrocarbon response lying east and SSE of the city of Wajir. The first lead in P1 with an area of 29km² demonstrates the highest level of hydrocarbon seismic energy interpreted amongst all seven potential leads identified by the survey; the second and likely related lead is over 100km² in size with good response for hydrocarbon potential and lies from 8km to 20km+ to the SW.
Existing Passive Seismic
100% interest in thre oil & gas exploration blocks in the Doba, Doseo and Erdis basins.
The PSC for all three blocks have an initial exploration phase of five years and a second exploration phase of two years.
The first exploration phase requires geological and geophysical studies to include processing and reinterpretation of existing 2D seismic, acquisition of at least 750 kilometres of new 2D seismic, as well as 400 km² of 3D seismic (or 2D equivalent) to determine the range of possible drilling opportunities for the second phase that requires two exploration wells.
Erdis Block III is 15,700 sq.km - Significant current production already exists and substantial potential remains underexplored
Chari Sud Block I is 6,400 sq.km
Southern 50% of Chari Sud Block II is 3,711 sq.km
Both of the Chari Sud Blocks lie just south of producing oil fields. Gravity and magnetic surveys across both Chari Sud Blocks I & II, along with existing 2D seismic, indicate the same basin morphology as the producing fields
Tie in potential for the two southern blocks to the existing Chad-Cameroon export pipeline which runs past the corner of Chari Sud Block I
Simba Energy has signed an Agreement to acquire a 60% interest in the Production Sharing Agreement (PSA) for Blocks 1 & 2 comprising 12,000 square kilometres onshore in the Republic of Guinea's Bove basin. After conducting both site investigation and detailed review of available technical data, the company's geological staff concluded Blocks 1 & 2 represent significant potential for oil and gas in a basin that remains relatively underexplored.
A work program, including planning for commencement of a seismic program, will proceed immediately after receipt of final approval from the Minister of Mines. Simba recently conducted a detailed review of technical data on Blocks 1 & 2 and concluded a significant potential for oil and gas exists.
The Company acquired 90% of International Resource Strategies Liberia Energy, Inc. ("IRSLE"), a private company domiciled in Liberia, West Africa. IRSLE is the holder of the onshore reconnaissance license for the Roberts and Bassa basins.
This onshore reconnaissance license covers the 1,366 sq kms of the onshore coastal strip of Liberia lying within the known extent of the Roberts-Bassa Basin. Although there are no published studies of this basin, existing field and geological outcrop data produced by the US Geological Survey indicate that it is connected laterally and down-dip with the West African - Atlantic conjugate continental margin.
Simba Energy submitted its application for a PSC for an onshore block in Ghana. The block is located in Voltan Basin, which could represent a large gas play.