Simba Essel Energy Inc SMBZF

RE:Sala 2 information from Africa Oil release

[PapaFritz]

notbuying wrote:

• In May, the Company announced the results of the Sala-1 exploration well at Block 9 in Kenya, which tested a large prospect on the northeastern flank of the Cretaceous Anza rift, which is up-dip of two wells that had significant hydrocarbon shows. An upper gas bearing interval tested dry gas at a maximum rate of 6 mmcf/d from a 25 meter net pay interval. The interval had net sand of over 125 meters and encountered as gas-water contact so there is potential to drill up-dip on the structure where the entire interval will be above the gas-water contact. A lower interval tested low rates of dry gas from a 50 meter net pay interval which can also be accessed at the up-dip location. Significant oil shows were also encountered while drilling. The Sala-2 appraisal well located on the crest of the discovery spud in early August. The Company believes there is a very strong market for gas in Kenya and have already engaged in discussions with the Government of Kenya around a fast track gas to power development and discussions are also ongoing around securing PSC gas terms.

great post, even though the market slapped AOI down for not finding oil, they found a lot of gas!! The Anza basin at the very minimum has a gas which can be sold locally and still produce a lot of revenue.  
If anyone is following AOI, they are having a strong day, back up in the $6.50 range and maybe this news from friday is why. More drilling and more discoveries will work well for SMB, etc.