Simba Essel Energy Inc SMBZF

Simba's new Vice-Chairman excited about 2D & drilling Kenya

[PapaFritz]

Gagan Goel, Managing Director, EGME and Vice-Chairman of Simba, commented, “We look forward to completing the 2D seismic survey, and securing positive seismic results, with a view to starting the drilling process. We believe this next phase of work will reveal excellent upside potential for exploratory drilling across of number of high quality Kenyan prospects.”

As part of the definitive farm out agreement, EGME became the largest single shareholder in Simba (TSX Venture: SMB), for the purposes of protecting shareholder interests on planned and future project developments with a total capital budget in the region of US$100 million. In addition, Mr. Gagan Goel, Managing Director of EGME, joined Simba’s Board of Directors and serves as Vice-Chairman.