(TheNewswire)
November 6 , 2017 / TheNewswire / Vancouver, British Columbia - SIMBA E Energy Inc .
(the “ Company ”) (TSX Venture: SMB) (Frankfurt: GDA) (OTCQX: SMBZF) is pleased to announce
that Sproule International Limited has completed a NI 51-101 report for Block 2A in Wajir, Kenya. Sproule’s report consists of an
assessment of prospective resources of the Company’s interests within the Block 2A in the Mandera Basin in Kenya. This report was
prepared to assess the Company’s P&NG resources according to definitions that are consistent with the standards of National
Instrument 51-101.
Five main horizons were identified in the interpretation. The youngest of these, Ken 6 is interpreted to be
lower Jurassic (Liassic) in age. Four other deeper seismic markers of uncertain age were also evaluated. These horizons are from
youngest to oldest, Ken 5 (Triassic), Post-Rift, Upper Syn-Rift, Lower Syn-Rift and Basement.
Twenty-nine leads and prospects have been mapped seismically at the Ken 5, Upper Syn-Rift and Lower-Syn-Rift
levels. In conjunction with areas defined on these horizons and reservoir parameters defined from possible analogs, low, best, and
high estimates of undiscovered petroleum in-place and prospective resources have been calculated. Most of the
structural closures can be classified as three-way dip closures bounded by extension faults. In addition, there were number of
structural closures in the form of pinching out and four-way dip closures. In total the gross
unrisked undiscovered petroleum initially in-place is 437.7 MMboe (Million Barrels of Oil or Equivalent).
The portion of the Mandera Basin underlying Block 2A is prospective as it exhibits a petroleum system with a
trend of improving reservoir quality upwards in the possible hydrocarbon bearing leads and prospects. Also, the passive seismic
which responds to reservoir quality to produce a response also indicates a continuous systemic profile of improving quality.
Passive Seismic is an indictor of hydrocarbons and is used in places like Alberta (Canada) to monitor hydrocarbon front movement in
water floods projects.
The agreement between the various reserve parameters over the prospects in terms of contacts and areal extant
suggests migration has occurred. The Tarbaj oil seep located immediately north of Block 2A suggests the
presence of an active petroleum system with oil migrating up dip and being biodegraded as it raises to the surface.
Many of the prospects and leads are coincidental to the same structural event and are stacked one on
top of the other. This means a single well can evaluate 2 or 3 prospects or leads. The Company is
contemplating additional seismic to further detail prospects and to choose the best location for drilling.
Objective is to develop a dual or triple prospect location.
The Company plans to drill an exploration well of approximately 3,000 metres in 2018 in Block 2A to test
two (2) or more intervals. This well would fulfill the first part of its drilling commitment to the production sharing
contract on Block 2A.
James Dick, P.Geo., P.Eng., Chief Technical Officer of the Company, and a
Qualified Person in accordance with National Instrument 51-101, has reviewed and approves the technical disclosure in this news
release.
About Essel Group Middle East (EGME)
EGME is a diversified conglomerate operating primarily in the Europe, Middle East, Africa and Asia
pacific region. EGME is part of Essel Group, the Indian multinational conglomerate operating in a broad spectrum of industries
including media, packaging, infrastructure and technology. Building on Essel Group’s 90-year history of developing and promoting
businesses, EGME is leading the Group’s regional expansion and currently operates subsidiary businesses in the natural resources,
energy, industrial supply and logistics, education and financial services sectors. For further information, please visit
www.esselgroupme.com
About Simba Essel Energy Inc.
Simba provides investors with well positioned exposure to oil and gas exploration in key areas of Africa with
active onshore PSC in Kenya, final negotiations for a new PSC in Guinea, a new Hydrocarbon Reconnaissance Permit in Liberia and
PSCs under negotiations in Chad and Ghana. Simba’s mission is to focus on onshore oil and gas potential in areas that are
under-developed or not previously exploited. For further information, please visit: www.simbaenergy.ca
On behalf of he Board of Directors,
Robert Dinning
President and Director
For further information, contact: Mark Sommer at +1-604-629-9647 or
Toll Free: 1‐855‐777‐4622, or info@simbaenergy.ca
Nei ther the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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