Simba Essel Energy Inc SMBZF

RE:RE:RE:What if ESSEL up its stake from 60% to 100% in GUINEA ?

[PapaFritz]

Bonafide1; Essel site is rife with errors. I emailed Mark last week about the very same thing, here's what he said;

Hi,Thanks for your email and continued support in Simba Energy Inc.  
 
The information on Essel Group’s website about the Guinea percentages is incorrect. Simba has owned 60% of the 2 blocks in Guinea since 2011 and as it stands right now Essel owns 60% of Simba’s 60%. 
Simba has been promised the remaining 40% from the Guinea government and it is just a matter of time until the remainder of the block is transferred to Simba Energy.
Then the “partnership” of Simba Energy and Essel Group will own 100% of the Guinea assets, Simba will retain 40% and Essel will hold 60% as per the original farm-in terms.

Sorry for the confusion, I’ve noticed Essel Group’s website has a few other errors such as including Liberia and Ghana in the joint venture but technically speaking, Simba is still in the application process for those PSC’s in Liberia and Ghana. 
They also stated an initial investment of $40 Million (USD) when in fact it is $100 M (USD).
I’m trying to get that all cleaned up so all the information is consistent from both camps and there isn’t so much ambiguity and confusion.

Simba will be releasing a steady flow of news and developments in the coming months now that the long awaited farm-in partner has been signed, sealed and delivered!  
 
Please let me know if you have any other questions or concerns.
 
Best regards,
Mark