Simba Essel Energy Inc SMBZF

RE: RE: Very simple

[HeyIrish]

It is very simple.

Ajax will commit to a gross investment programme estimated to be worth up to US$36.5m. This is comprised of a pre-drill exploration work programme up to US$11.5m and the full carry of the drilling of one exploration well. The cost of drilling this well is currently assumed around US$25.0m. Should actual drilling cost be higher, these costs will be borne by Ajax given that Simba will have a fully carried 34% interest. Ajax has indicated that it aims to drill the first well in late 2014 indicating that pre-drill work will commence immediately after the deal is approved.

Thanks Merlion for all the cheap sheep shares. Those poor sheep who followed you have now been sheared.