Simba Essel Energy Inc SMBZF

RE:Sproule International Limited To Complete An Updated Ni 51-1

[LouisWinthorpeIII]

The FTG results, in conjunction with correlating data from previous 2D & passive seismic, drill logs and comparable data at other discoveries, indicate a number of potential drilling targets in Block 2A.
These results and final report will be made available to our interested farm-in partners. The FTG data will be used to design and constrain the 2D seismic program, which once acquired, will allow us to determine depths, create volumetric estimates and to define drilling locations all of which is to be published in an updated (NI 51-101 compliant) resource estimate
(or CPR - Competent Persons Report)

The map provided below highlights the FTG survey’s results. The FTG results will inform the design and planning to acquire 2D seismic over the specific FTG anomalies observed in both basins.
An area in the Mandera basin that covers the two sizeable ‘primary’ and one ‘secondary’ target areas designated as M1 & M3 (prospects) and M2 (lead) is estimated to require +/-175 line kilometers, while an additional 100 kms are estimated for the Anza basin to cover leads A1, A4 and A5.

Simba’s Block 2A concession covers an area of over 7,800 km² that overlies portions of two very prospective basins, each with proven hydrocarbon systems:

The Mandera basin where the Tarbaj oil seep (just to the north of Block 2A’s northern boundary) has confirmed marine origin source rocks deeper in the basin in Lower / Mid Jurassic formations, and; the Anza basin, one of the largest Tertiary-age rift basins in the East African rift system and with a geological setting similar to the South Lokichar basin where Africa Oil and Tullow have recently had significant discoveries.

The strong exploration potential for the target areas in both the Mandera and Anza basins is supported by the following rationale.

Mandera Basin:

• The Mandera basin offers significant exploration potential with a Jurassic-Triassic section deposited during a period of marine conditions which typically result in larger sedimentary bodies that in turn form larger reservoirs
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• Bell Geospace’s recent FTG survey identified a north-east trough along the Mandera basin margin parallel to a series of independent closed structures and indicate the margins of the Mandera basin possibly hosting a “String of Pearls” trend play
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• Numerous formations offer reservoir rock potential, for example: the coarse grained Triassic, Mansa Guda sandstone has an estimated 15% average porosity. Sin Rift 1 & 2 sandstones although not penetrated locally have good reservoir potential and have 4 way closure on prospect M1.
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• 4 way closure at M1 & M3 prospects is supported by each of: 2D seismic, passive seismic and FTG
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• Planned 2D seismic program will delineate prospects’ depth, potential volumetrics & refine drilling locations and test ‘pearl’ trend identified by FTG and earlier passive seismic