Simba Essel Energy Inc SMBZF

RE:RE:RE:RE:Better not

[stjjmac]

keeptryingok wrote: Do you really think they purchased the rig? Here's a reply for IR regarding drill rig. Earmarked doesn't sound like purchased.

"Regarding the questions about the rig and drilling on block 2-A in Kenya, yes there has been some deliberation and discussion as to the approximate depth of the first exploration well and whether or not the rig that EGME has ear-marked would be suitable. I can’t really elaborate much further at this particular time but as more information becomes available, Simba will address all of those issues."

"As of right now the company is trying to do everything possible to ensure the earliest spud date possible. The final data processing and report from Sproule should help to clarify some of the question you have."

"It shouldn’t be too much longer until the final Sproule report is published and released to Simba’s shareholders and the investing public."

Basically, not much new to report to shareholders.....here's hoping for a miracle in Q4.

No I don't think they have purchased the rig, my point was that an earlier press release from a year ago said they had.  This thing is turning into a mess.  Liberia wasn't part of the original agreement yet they are doing FTG.  Doing FTG on Guinea but to the best of my knowledge they have never press released getting the final PSC.  Kenya timelines have been absurd. Simba IR know seemingly nothing. All we gave is Essel's fancy magazine.  I don't know if Simba built in any "outs" in their agreement with Essel related to meeting certain funding commitments, timelines etc but they should have. This is staring to look like a really bad deal for a Simba shareholders.