Finally, a cheaper office and a new director that knows something about oil & gaz!!!!
2020-07-31 02:14 ET - News Release
Mr. H. Hassan reports
SIMBA ESSEL ENERGY INC. PROVIDES CURRENT UPDATE
Simba Essel Energy Inc. has provided the following update.
Simba is an oil and gas exploration Company whose original mandate was oil and gas exploration in various African countries. On Oct 28, 2019, SIMBA announced it was suspending operations because it failed to arrange necessary financing to continue. The BOD -Company has since that date-now reviewed its operations and plans to make necessary changes to resolve financial, operational, and structural issues. Several changes are contemplated regarding structure and projects to be pursued.
The Company announces that its lease on its office premises has now expired and the company has now relocated to 1518, 800 West Pender Street Vancouver .
The Company had been at its previous quarters for almost 10 years and has moved -relocated to smaller quarters. Its operations have been fully disrupted with the onset of the Covid-19 virus that has affected the entire world universe as this has curtailed travel and the ability to pursue new opportunities and related financing opportunities.
The Company will be restructuring its operations and its management structure, andstructure and will seek new funding in its pursuit of other resource opportunities. It will also be applying to the TSX for re listing on the Exchange once it completes its annual audit, updates its website and fulfills other matters requested by the TSX.
The Company also is pleased to announce the appointment of Philip Rand as an Independent Director. Mr. Rand has more than 30 years' experience in the upstream oil and gas business and has been a Director and Chief Financial Officer for several companies listed and private companies including Equator Exploration and Burren Energy, Managing Director at Allied Energy and Group Treasurer at Monument Oil & Gas and Deminex. Mr. Rand also has extensive practical knowledge of the African energy sector having in addition held Non-executive roles at several companies. Mr. Rand's appointment is subject to meeting TSX requirements regarding documentation.
About Simba Essel Energy Inc.
Simba provides investors with well positioned exposure to oil and gas exploration in key areas of Africa with active onshore PSC in Kenya, and in Guinea. Simba's mission is to focus on onshore oil and gas potential in areas that are under-developed or not previously exploited.
