Simba Essel Energy Inc SMBZF

RE:VEL update - FYI

[PapaFritz]

thx for posting Harjay; VEL spent 7 years in Kenya and failed to drill. That was the problem.

The key behind the Kenyan Gov's decision was that they granted vel several extenstions and they never broke ground.

So despite Simba's "Stalker" claiming otherwise, VEL never drilled hence they never encountered anything but delays~! To little too late for VEL which is too bad.
Simba has none of these issues and are on track with their PSC obligations:

 "Vanoil Energy Limited lost its licences for blocks 3A and 3B located in Garissa in February.

The licences were revoked by Energy and Petroleum Cabinet Secretary Davis Chirchir for what he termed failure by the firm to meet its licensing obligations.
 

While it has reached the maximum period it is allowed to hold the blocks as per the current petroleum exploration law, last year, the company received a three-month extension (April to July) of the deadline to complete its work.

In its update on the arbitration posted on Thursday, Vanoil cited local disturbance and unrest as the reasons why it was unable to complete its work as per schedule."