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Dear Simba Essel Energy Shareholder,
The Sproule report (NI 51-101 compliant) is almost ready to be released and Simba Essel Energy will have an updated, independent resource/reserve estimate including; volumetrics, potential hydrocarbons in place, as well as chances for drilling success for each targeted lead (potential structure) that’s been identified from the data collected.
The report’s processed seismic data will also help Simba’s technical team to identify and pinpoint the first high-ranking drilling targets for block 2-A, in Kenya.
There was a technical meeting held last week in Calgary whereas Sproule International provided a detailed and comprehensive presentation of their geological data analysis to Simba Essel Energy’s technical team.
Next week there is a Board of Directors meeting scheduled in the UAE where EGME is located. Once all of the processed geological data has been examined, analyzed and approved by Simba’s Board of Directors and technical team, the Company will issue a news release to its shareholders and disclose all of Sproule’s new geological analysis for block 2-A, Kenya!
I would guesstimate that it will be approximately 2 weeks before a formal announcement can be made and the new 51-101 compliant, independent report can be disclosed to investors and shareholders.
EGME have been amassing an impressive technical team of geologists, geophysicists, petroleum engineers and an extremely competent team of experienced drilling and exploration professionals. Nearly all the key pieces are now in place in order for drilling and exploration in Kenya to advance with respect to this unique partnership between Simba Essel Energy and EGME.
Simba’s partner Essel Group Middle East (EGME) will make a formal announcement when the drilling rig is ready to be shipped and delivered to Kenya, on Simba Essel Energy’s behalf. Simba will then be able to inform its shareholders when the drilling rig will be mobilized, set up and constructed for the full scale drill program in Kenya.
I'm sorry I cannot disclose any other details at this time, I have to act in accordance with TSX disclosure policies with respect to upcoming material announcements.