GREY:SMBZF - Post by User
Comment by
PapaFritzon Jun 25, 2014 12:44pm
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Post# 22693698
RE:partnership ?
RE:partnership ?taipan is referring to the calgay JV, they show 40% and $9 M which is what the terms with calgary were originally;
January 8, 2014, Vancouver, B.C., Canada. Simba Energy Inc. (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF) (“Simba” or the “Company”) is pleased to announce that it has signed an exclusive letter of intent (the “LOI”) with a private group (the “Group”) based in Calgary, Alberta to farmout up to 40% of Simba’s interest in the Production Sharing Contract (PSC) for Block 2A, onshore Kenya, for a total commitment of US$8.6 million.
I think Simba will be looking at doing a much bigger deal with a new group now that there's a discovery in the Anza basin (sala) and they've added new ftg geology,etc.