Simba Essel Energy Inc SMBZF

Ajax deal was not a good one

[kjs4381]

The Ajax deal was not a great deal for Simba, and I for one am glad they pulled out of it. Giving up 66% was too much, and not only that what experience did Ajax have in the oil sector? 

I think Simba soon realized they made a mistake, and interest from other parties in Guinea and or Chad probably made them rethink the deal with Ajax.  Get some money in the bank from a deal with either Chad or Guinea and use some of it to do more work on Kenya and get a better deal there.

If they can bring in a partner with oil experience and a proven track record on both Guniea and Chad, we'll be better of then going ahead with a company like Ajax that has little or no experience.

My big hand up with management is keeping everyone in the dark for so long.  That being said I'm looking forward to hearing about the deal on  two of the PSC's .  JMHO