Simba Essel Energy Inc SMBZF

Guys here's my latest reply from Simba

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I understand that the lack of news is frustrating but I can assure you that the company is doing everything in its power to advance its projects and increase shareholder value. 

 

Simba Energy’s team has been involved in ongoing discussions/negotiations with the group from Calgary.  Management has been working on the details for the definitive agreement for both the Guinea and Kenya LOI’s and I am expecting news pertaining to these farm-out’s very soon.

 

In the meantime, there have been several interesting inquiries regarding farming down the drilling for Kenya. Simba is currently working under ‘confidentiality agreements’ with a several groups that recognize the potential prospectivity for Block 2-A in Kenya and have expressed interest in beginning dialogue regarding an eventual drill program partnership.  This means that Simba and the Calgary Group (once the LOI is completed) will have the option to farm down the drilling in exchange for a potential free well- carry, cash or a combination of both. 

 

As far as Liberia is concerned, Simba’s team is patiently waiting to get back to Liberia and begin discussions towards finalizing the on-shore PSC application.  Unfortunately the Liberians have not yet finalized their National Oil / Petroleum laws and policies and this has been the major delay for nearly 2 years.  Simba has every intention of finalizing the Liberian block and remain hopeful that this will be resolved later this year!