Big picture - Why invest in Simba Energy Inc
Simba Energy Inc Snapshot
Simba Energy is a TSX-V listed oil and gas exploration junior focused on the onshore frontier basins of Africa.
Its key strengths are its first mover advantage, excellent relations with host governments and management understanding of the prospectivity of its portfolio. It has large acreage positions with majority control and operatorship of all its license areas.
Simba Energy's portfolio comprises onshore PSCs in Chad, Kenya and Guinea. Its onshore PSCs in Ghana, Mali and Liberia are currently being ratified.
As potential is identified, Simba will seek farm-in partners to escalate and progress exploration of the assets before commencing on exploration drilling.
Simba holds a 100 % interest in the Production Sharing Contract (PSC) for Block 2A, onshore Kenya. 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 Mandera Basin is Permo-Triassic to Tertiary in age with a sediment thickness of 10,000 meters. Potential source rock interval is mid Jurassic-Lower Cretaceous and comparable with the larger Mandera-Lugh basin in Ethiopia and Somalia
Only four wells have been drilled in the Mandera basin with oil shows encountered at 40-44m in the Tarbaj stratigraphic well drilled by Total
Oil & Gas Shows
In the Anza basin lower Cretaceous reef structures have been mapped with a potential reservoir thickness of 300m-500m. Source rock is likely Lower Cretaceous. The eleven wells drilled in the Anza Basin have encountered oil shows and/or gas shows
Regional Seismographic Coverage
Present 2D seismic coverage, although regional in nature, identified numerous structures and a major stratigraphic pinch-out. The limited seismic coverage available indicates a stable stratigraphic sequence with some very good exploration leads
Remaining of exploration interest to the Company is the flank of the basement high structure where two AMOCO wells drilled in 1987 (ELGAL#1 to 1,280 meters in Permian Karroo and ELGAL#2 to 1,908 meters in Triassic Karroo) were plugged and abandoned as no reservoir rocks were encountered
The area of the block overlying the Mandera basin is of particular interest as the analysis of the oil from the seeps at Tarbaj although severely biodegraded indicate a source rock maturity for the Mandera basin which is well within the oil window
The Company will immediately begin re-interpretation of all available existing data, as well as initiate baseline environmental work, to support the design and planning of a new seismic acquisition program.
Guinea, Bove Basin
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.
Heavy Oil at Surface
Migration and communication are demonstrated by the presence of seeps, large accumulations of bio-degraded heavy oil at surface, along with light oil staining in earlier (historical) core and samples
A detailed laboratory analysis of samples from two wells carried out in 1989 by Beicip (France) indicated a level of maturity as mature to over mature and a source that is likely oil prone
Silurian shales, which are the major source rock in all North African basins, are present
The basin has three known reservoir systems with fair to good reservoir parameters in both clastic sediments and carbonates
A gravity and magnetometer survey carried out over the entire basin in 1972 by Texas Geophysical Company indicates sediments were present up to a depth of 4,000 metres and identified numerous anomalies, the magnitude of which remain of great interest
Most of the basin’s wells to date were drilled prior to the 1960’s and were too shallow to fully evaluate the section
The tectonic style of the Bove basin is such that structures are formed that produce traps capable of pooling large reserves
In an area 100 to 200 kilometres offshore from Blocks 1 & 2 Hyperdynamics Corporation (Houston, TX, NYSE Amex: HDY) recently carried out extensive 2D & 3D seismic surveys and now plans to drill the first of a two well program later this year.
Simba Energy in Liberia
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.
During the month of January, 2010, James Dick, supervised an exploration team that carried out an extensive oil seep survey over the most prospective portion of the onshore reconnaissance licensed area in Liberia, West Africa. The expedition included a ground crew of 25 geology students from the University of Liberia who in turn traversed a 125-square-kilometre area of rivers and tidal mangrove swamps, collecting and recording extensive data and samples.
At the conclusion of the oil seep search and after careful evaluation, consulting geologist Mr. Dick stated: "The high volatile oil associated with the seeps is positive indication of mature oil. The basin is either deep enough to have temperature and pressure levels capable of maturation or migration has come from offshore sediments."
The initial focus of the oil seep survey concentrated on two areas, the Marshall City area where oil seeps have been reported for several years, and the airport area where the company lacked anecdotal information, with the objective to confirm the previously indicated oil seeps and expand the area of proven oil seeps.
Oil seeps were found on all traverses (15) covering an area of about 125 square kilometres. Each sighting had numerous seeps in close proximity. Samples of water and soil were taken at each sighting and from pits offsetting seeps at the best seep in each area. Clay and sand were sealed in plastic bags and water samples were placed in sample bottles. Iridescent sheen and bubbles floating on water, bubbles from bottom in shallow water, identified the seeps and often there was kerosene smell. The hydrocarbon present is very volatile, disappears very quickly, was only seen entering fresh pits and is positive indication of mature oil.
While remaining active with its efforts in Liberia the Company continues to pursue other opportunities both along the Gulf of Guinea as well as throughout Africa (eg: Ghana, Ivory Coast, Angola, Mali, Democratic Republic of Congo, Nigeria, Somolia).
For information on the other projects please click below
Robert Dinning, President, Chief Executive Officer & Director
Robert Dinning is a Chartered Accountant who has operated his own consulting business for the past 30 years and he brings effective management and administrative experience to Simba Energy. His proven record of success in the financial community includes being a Director and/or Officer of several public companies, including Meadow Bay Gold Corp., Rockhaven Resources Ltd., Apolo Gold & Energy and Sonora Gold & Silver Ltd.. He is also the Chairman of Paramount Gold and Silver. Mr. Dinning resides in Vancouver , B.C., Canada.
John King Burns, Chairman & Director
Mr Burns is a former Managing Director and Global Head of Structured Derivative Finance for Barclays Metals Group, Barclays Bank PLC, London . Mr. Burns is an experienced international executive in the global resource sector and is currently a director of Hunter Energy LLC, in Centennial Colorado, a director of NuCoal Energy Corp in Saskatoon, Saskatchewan, Senior Project Advisor to Potomac Asset Management Co, in Frederick Maryland, and a director of NovaDx Ventures Corp, a publicly-traded investment firm that provides capital investment, investment banking, financial and business advisory services to early-stage natural resource exploration companies.
James W. Dick, Director
James W. Dick P Geol., P. Eng., (APEGGA) and Honors Geology University of Saskatchewan 1962 is a Petroleum Specialist with in excess of 48 years of petroleum industry experience. At the present he is president and prime consultant of J W Dick & Associates Ltd which has for 30 years served a variety of clients including major oil companies, government agencies, and start-up companies. He spent 18 years with Exxon group reaching Senior Exploration Specialist level. Also he was Vice President Geology for the D&S International Consulting (10yrs) a large international consulting group, president of Quad Energy Development Corp. (10yrs) a public oil company and Chief Geologist for Mercantile International Petroleum Inc.
Charles de Chezelles, Director
Charles de Chezelles is a highly experienced financial industry expert. Past positions include: General Manager, Banco Real SA, London; Executive Director, Credit Suisse-First Boston (CSFB), London; Director, First Boston Europe, London; Vice President, The First Boston Corporation, New York; Corporate Account Executive, Smith Barney, New York; Investment Analyst, Stralem & Company, New York. He is currently Managing Director of Omega Trust Company Limited (London); Mr de Chezelles sits on the Board of several financial companies and Trusts.
Hassan Hassan, Managing Director – Operations
Mr. Hassan has been actively involved in various African countries over the past 7 years and in February 2009 vended acquired assets into Simba Energy and agreed to assist the company in the development of oil and gas assets. In the fall of 2009 Mr. Hassan was instrumental in changing the focus of the company to oil and gas leases in Africa and assisted in the revamping of the Board of Directors. He is primarily responsible for the sourcing, negotiating and completing the acquisition of PSC's as well as negotiating strategic alliances for the development of PSC's throughout Africa. Mr. Hassan is also an advisor to junior resource exploration companies and assists companies in business development and asset acquisitions. He spends a good proportion of his time in Africa where he has extensive corporate and government relationships.
Paul Vonk, VP Capital Markets
Paul joined Simba as its VP Capital Markets in January 2013. One of his key focus areas will be the further development of Simba Energy through helping to realise successful farm-outs in select license areas. Paul has extensive experience as an investment banker advising oil & gas companies on their capital structures, initial public offerings, mergers and acquisitions and farm-out negotiations (including Chad). Most recently, Paul was working in Nomura’s London Natural Resources & Power team. Previously, he covered the oil & gas sector at RBS and ABN AMRO and worked as a Senior Field Engineer for Baker Hughes on the African continent.
Paul has an MBA from the University of Oxford, Said Business School, and a MSc. in Mining and Petroleum Engineering from Delft, the Netherlands.
Keith Margetson, CA, Chief Financial Officer
Mr. Margetson qualified as a chartered accountant in 1975 and has operated his own accounting firm since 1992. He has 15 years experience with public companies, both as an auditor and in providing other professional services.
210 - 905 West Pender Street
Toll Free: 1-855-777-4622
Country Manager - Mr. George Garteh
2nd Floor,Cassell Building
80 Broad Street,
Country Manager – James Jenkins
Simba Africa Rift Energy Limited
4th Floor Krishna Center
Woodvale,Grove Street , Westlands
P. O Box 00606- 2025 Sarit Centre Westlands
Office #: +254 727 099 763
Investor Contact Information
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