Simba's subsidiary, Simba Africa Rift, and its farm-in partner, Essel Group ME (EGME), have agreed that the 2-D seismic data-acquisition and processing program will cover around 500 line kilometres of survey.
It is expected that preliminary fieldwork and mobilization will commence in mid- to late April, 2016, with the full survey to commence in early May, 2016. It is expected that the work will take about 60 to 75 days to complete to be followed by interpretation of the data.
"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 chief executive officer of Simba Energy.
The next phase of the exploration will see EGME and Simba Energy jointly acquire an oil drilling rig.
"The drilling process will start as soon as we get a positive seismic result," stated Gagan Goel, the managing director of EGME and vice-chairman of Simba Energy.
Shares in the oil and gas exploration company rose 12.5% to C$0.045 on the news.