Simba Essel Energy and Essel Group Middle East Sign Contract to Commence FTG Survey In Liberia

Simba Essel Energy Inc. advises that its partner Essel Group Middle East (EGME) have signed an agreement with Bell Geospace to conduct a comprehensive airborne FTG (Full Tensor Gravity Gradiometry) survey across Simba's exploration block in Liberia.

The contract will see Bell Geospace fly Full Tensor Gravity Gradiometry (FTG) surveys across 2,962km2 of the onshore coastal strip of Liberia lying within the known extent of the Roberts-Bassa basin.

Bringing its considerable strength in high resolution gravity technology, Bell Geospace will commence survey flights during last quarter 2017 and early 2018. The outcome of the surveys will provide processing and interpretive surveys resulting in 3D imaging of the complex sub-surface geology of this highly prospective exploration block.

Bell Geospace will use a Basler BT-67 flying at low altitude to conduct the survey.

Mr. Hassan Hassan, Managing Director, Operations, Simba Essel Energy Inc. comments:
"We are very pleased to once again work with Bell Geospace and look forward to beginning the next stage in the development of our Liberian Hydrocarbon Reconnaissance Permit. Acquiring FTG data over the onshore/shallow water will provide valuable data which will be critical in planning the future seismic program"

SIMBA ENERGY at a glance

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 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.

Liberia operations

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 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.

In August 2016, Simba advised that work had commenced on a 2D seismic survey of Block 2A covering an area of approximately 535km. The two specific aims for the seismic survey are to pinpoint the optimum locations for drilling and to estimate depths and volumes for primary and secondary drilling targets.

In addition, Simba Energy’s partner, Essel Group Middle East (“EGME”) advises it has entered into a definitive agreement to acquire a new skid mounted drilling rig.

The AC-VFD drilling rig possesses power of 2,000 HP (1,470kW) and it will be used by the Company during its exploration activity on Block 2A.

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