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Simba Essel Energy Inc SMBZF

Simba Essel Energy Inc is a Canadian exploration company. Its principal business activity includes the acquisition and exploration of resource properties. The company engages in the process of exploring its oil and gas properties.


GREY:SMBZF - Post by User

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Comment by Vanboarderon Oct 16, 2012 4:43am
138 Views
Post# 20487263

RE: RE: RE: RE: Will Simba Energy Inc. (TSX: SMB)

RE: RE: RE: RE: Will Simba Energy Inc. (TSX: SMB)

Your own statement says it all tim. If a duster on our block 30 years ago means you shouldn't write off finding oil in all of Kenya shouldn't you apply that same logic to our bloc as well?

You could drill a well anywhere (not just Kenya) and find a duster/uneconomic to produce well merely a mile away from a producinng well.

To help answer your question though: (note information was as of 2008) from https://grantpasay.com/showcase/corp_brochure_Turkana_Energy.pdf

Exploration of Block 10 BB began in 1985 when Amoco (now BP) was awarded the area as part of a much larger block. Amoco acquired 1,407kilometers of 2D seismic data in the Block 10 BBand 10BA areas, including offshore Lake Turkana.This data was augmented with gravity and fieldgeology surveys.Subsequently, Shell acquired an additional 1,080 kilometers of 2D data and drilled two wells in 1992-93, Eliye Springs-1 and Loperot-1, which encountered source rocks and reservoirs containing oil. A 29 degree API oil was recovered, but commercial rateswere not established. New evaluation of the well and seismic results indicate potential reserves of 20-25 million barrels may have been discovered bythe Loperot well. Loperot-1 is the only well drilled todate in the 2,800 square kilometer Lokichar Sub-Basin.

Eliye Springs-1 was drilled in the Kerio Sub-Basin and encountered thick, high quality reservoirsandstones with porosities ranging up to 35%. Thewell was abandoned without testing. No exploration activity has occurred on the Block since early 1993.

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