Simba Essel Energy Inc SMBZF

RE:RE:Simba aquisition news

[lushlife]

So they own 23% of Simba and 60% of the properties. 23% of Simba is almost 10% more. So they paid between 5-6 million for the extra 10%. They're supposed to be spending 120 million for the other 60% within two years which they haven't done. But what's the rush when they can gobble up cheap shares for a quarter of the price they were supposed to spend to get the 60%. So let's see what kind of financing this new revenue property is going to cause. If Essel ends up receiving an even higher percentage of any meager profits that may occur in the far future, why would simba shares rise much? Well they might rise on pure drill speculation. Then they might rise more if they find a humongous amount of oil. I'm far more interested in the so called revenue acquisition,  which like everything else these dingbats do, seems to be delayed. Considering the unsavoury state of the venture exchange, this at least has the potential to succeed. The boys from Essel need to spend the rest of that 120 million soon like they were supposed to already have done. Jmho