Simba Essel Energy Inc SMBZF

Simba Energy: Executive Interview

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Simba Energy: Executive Interview

22.09.2010 22.09.2010
StockopediaStockopedia

Vancouver - The Canadian oil and mining consultant HassanHassan secured several years ago for his exploration work in Liberia, aproperty, the contiguous oil geologists as a great heritage Sick kingdomwas called later.In the current year, taught the sole focus of the company Simba Energy, under the Gold Star Resources was known before, to the exploration license for that area.With a newmanagement team and the progress towards a formal production-sharingagreement (PSA) with the Government of Liberia have been made to the,expectations also rise to Simba Energy.

Duringhis visit to London last week, Hassan spoke to Stockopedia about thebackground of the first licensing business, on the progress achievedSimba Energy has been, and his expectations for the company for the nexttwelve months.

Stockopedia:Hassan, before Simba Energy in Liberia to speak to come to work on, youwould first contact through your position at Simba Energy and thebackground to inform us that the company's activities have led to thebuilding?

Hassan Hassan: Well, I'm practically my whole life in junior companies in the oil and gas sector already active.NormallyI am not active in the leadership level, but behind the scenes - as aperson, which companies in the acquisition of property and fundingsupports.I have time on site with the search for mineral resources spent much.After Liberia, I went some years ago to and diamond deposits to inspect some gold, which have aroused my interest.When I was in Liberia, I busied myself with oil and gas, because I was for a different oil and gas company worked.I came across an onshore basin, where no one gave attention, as all were focused on offshore oil, and the government.So I sent some questions and there were discussions with the Ministry of Mines and Energy.After a while I was successful, the Ministry informed me that I was only interested in the field of and that I could have it.

In Liberia, there are very well trained professionals. The country has some of the best schools in the West. Due to the success of the offshore work in Ghana every now looking to offshore projects in the Gulf of Guinea.I have a small area of the onshore basin focused on that only a few kilometers long. And so we have tried.After I realized I buy that the onshore block, I could have gone back to Vancouver - a great place for old geologist.There, you meet geologists from all over the world from a variety of reasons there are.So I went in search of geologists who had worked on projects in Liberia before, and I actually found some.Some were in oil and gas projects in offshore areas already involved, others of gold and diamond projects.Then I got acall from an old friend, a stockbroker in Vancouver, who said to me:"there is a company called Katana Resources. Katana Resources had all the exploration rights for oil and gas onshore and offshore areas receive 1979/1980. The company believed that deposits with great potential to have found one on land. I found out that many geologists at that time lived.They had not much data, but they told me where they were met on time Sickeröl. I had explored the area, but I was not exactly sure what I had found because I am not a geologist.The geologists told me that it is crude oil with low sulfur content and very high API gravity acted to.

A friend of mine, James Dick, oil geologist in Calgary.Icalled him and told him: "Jim, I think I've got this property inLiberia, and I have found that a company called Katana Resources wasworking there got to know. You know anyone that worked for the company?" Jim said: "Yes, I was there consulting geologist to perform. I was hired to exploration drilling in Liberia."That was just on our property.We then managed to Star Resources a company to find gold, which had a business interest at.Im Januar 2009 haben wir die Explorationsgenehmigung erhalten.In January 2009, we have obtained the exploration permit.Andwe got this because there is no formal approval process for onshore oilwas still, no one counted on oil exploration on land.Instead of a mining exploration license, we received a hydrocarbon exploration license, which number "001" was the.

So that was the beginning.Then we engaged in the planning.Jim came as chief geologist and director on board. In January he flew to Liberia for a few weeks and scouted the area for oil seeps from the.He found an area of 125 square kilometers, which he a continuous, massive oil seepage certain as Elle.

Stockopedia: The extent of the oil, this large area of the earth emerges in is amazing, is not it?

Hassan Hassan: The first week I spent in Liberia, I was looking for oil and gas deals with.Even before I had planned to approach another mine, I turned to the ministry.I have compiled geological maps and data and this study.So I always start.Iinquired of the people, and I was told that some villagers when theyare outside Monrovia dig a well, of note that this fuel is contaminatedwith hereafter.I replied: "That's interesting."If the oil has a high API gravity, it looks like water.It evaporates when it comes out of the ground.On our website you will find an interview with Jim.He says that the car can use this oil.He was about smoking sign on the property to bring.

Stockopedia: That sounds very encouraging.What progress have you preparing the production sharing agreement (PSA) with the government made in?

Hassan Hassan: We have spent an incredible amount of time to compile documents for the agreement. They are now available in full and are now in Liberia. As part of due diligence and thenegotiations is expected in the coming weeks, a delegation of theNational Oil Company of Liberia to Vancouver. The application is still not well understood, but we're in a very advanced stage. We hope to announce within thenext 30 days that the documents were officially submitted and acceptedby the Liberian government for consideration. Thereafter, everything will take its normal course.

Stockopedia: Let's say that everything goes according to plan how you intend to proceed with the project further?

Hassan Hassan: Now that we have passed through themangrove swamps, and sometimes to the neck in them are still there, weare very optimistic that this is a vast area involved with oil deposits. We have already received requests from businesses, whether cooperation is possible in Liberia. We are very confident, fairly quickly find a partner, once we receive the production sharing agreement.In the last two weeks we had so to speak, an anticipated Christmas, because that is now Chevron is active in three blocks, right on our property to connect.

Stockopedia: The political situation in Liberia has calmed down and thegovernment is obviously trying to promote exploration in the country. What is going on in Liberia and also which other companies operate there?

Hassan Hassan: It's interesting: When on the flight to Liberia is located, then it is not rare for people of BHP Billiton, ArcelorMittal and other mining companies.Total, Anadarko and Repsol are active in the three northern blocks. We have already met on numerous occasions, employees of Anadarko.Many international corporations are in Liberia because the government is seriously committed to support foreign investors. Although Liberia has a difficult past, I feel in this country very well. It is a safe country and the people are seriously trying to help. We have had a single problem with the government or with local authorities. On the contrary, we were all taken extremely friendly, and I understandvery well why it attracts all the big corporations to Liberia.

Stockopedia: Simba Energy's shares are listed in Toronto and Frankfurt.You can raise capital this year in Canada. Get at these exchanges have access to those investors, do you need?Consider perhaps the move to London?

Hassan Hassan: In Canada and Germany, we have encountered great markets. Also grows in Canada and Asia, the support of institutional investors. We have recently received many calls from companies that have notified us that they are involved with us. Currently, the participation by institutional investors is about 25%. Once we keep a listing in London isappropriate, we will take this into consideration, of course, becauseLondon is a great city to raise capital.Und Kapital benötigen wir natürlich, damit wir mit unserem Vorhaben weiterkommen. And of course we need capital, so that we progress with our projects.London ist außerdem eine großartige Stadt, wenn es darum geht, Geschäfte im Öl- und Gasbereich abzuschließen. London is also a great city when it comes to do business in the oil and gas sector.Momentan verbringe ich eine Woche pro Monat in Großbritannien. Currently I spend one week per month in the UK.

Stockopedia: What impression do you have, how are things for Simba Energy to develop next? And what goals should Simba Energy in your opinion within the next twelve months?

Hassan Hassan: Well, do within thenext twelve months we have completed the production sharing agreementand begin the seismic program. The costs incurred for our seismicwork and drilling is in the truest sense of the word by only a fractionof an offshore borehole.It is also interesting that in last September Tullow Oil, Anadarko and north of Liberia, in the coast of Sierra Leone, holes at the source "Venus B1" have done). And in April this year we can announce that we have encountered Sickeröl. We are therefore all in the same basin. It is of course easy to notice that the basin contains oil. What matters is the extent and specific position. We assume that there will be in the region in activities. We ourselves are too small and we donot have sufficient skills in the offshore area, but we want to beduring the next twelve months in this region a major player in themainland support.

Stockopedia: We will follow you in this with great interest. Thank you for your time.

Hassan Hassan: Thank you very much, it was my pleasure.(Interview vom 17.09.10) (22.09.2010/ac/n/a)

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