GREY:SMBZF - Post by User
Post by
PapaFritzon Oct 30, 2015 2:04pm
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Post# 24244363
Sproule's 2012 estimate of 1.9 Billion barrels in Kenya
Sproule's 2012 estimate of 1.9 Billion barrels in Kenyacould increase significantly after the next round of seismics are done and added to the data-mix. Simba still needs to add last year's FTG seismics data and any new 2D or 3D data but that old estimate of 1.9 Billion barrels in Kenya will most likely increase~!
Simba Energy Receives Sproule's Resource Assessment Report for Block 2A –Onshore
VANCOUVER, British Colombia (Business Wire) -- Simba Energy Inc. ("Simba" or the "Company") (TSXV: SMB, Frankfurt: GDA, OTCQX: SMBZF), is pleased to announce that independent petroleum consultant Sproule Associates Limited (“Sproule”) has completed a technical report compliant to NI 51-101 and CPR (Competent Persons Report) standards in respect of Simba's holding, a 100% interest in the PSC (Production Sharing Contract) for onshore Block 2A, Kenya, comprising 7,802 sq.km within the Madera-Lugh basin, near the juncture with the Anza basin and Lamu Embayment/Basin.
Utilising the existing 500km of 2D seismic, Sproule's report has defined three prospective leads at four representative seismic horizons. Five horizons have been carried in the interpretation. For this initial assessment, the Gross Unrisked Undiscovered Petroleum Initially In-Place, (Mean) was 1,927.1MMboe and the Gross Unrisked Prospective Resources (Mean) was 445.3MMboe. The Total Gross Risked Mean Prospective Resources was 26.9MMboe. See also table below.
| Table: Initial Resource Assessment of Block 2A - First Three Leads |
| (Source: Sproule and Associates Ltd.) |
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| Lead |
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Zones |
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Gross |
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Gross Unrisked |
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Gross |
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Unrisked |
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**Prospective |
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Risked |
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*Undiscovered |
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Resources |
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Mean |
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Petroleum |
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(Mean) MMboe |
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Prospective |
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Initially In- |
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Resources |
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Place, (Mean) |
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(Mean) |
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MMboe |
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MMboe |
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| 1 |
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Ken 5 |
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507.2 |
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117.2 |
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10.5 |
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Syn-Rift 2 |
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413.5 |
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95.5 |
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3.8 |
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Syn-Rift 1 |
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326.4 |
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75.4 |
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1.5 |
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| 2 |
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Ken 5 |
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180.9 |
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41.8 |
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3.8 |
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Syn-Rift 2 |
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128.7 |
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29.8 |
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1.2 |
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Syn-Rift 1 |
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98.3 |
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22.7 |
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0.5 |
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| 3 |
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Ken 5 |
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272.1 |
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62.9 |
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5.7 |
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| Total |
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1,927.1 |
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445.3 |
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26.9 |