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Studied: Power Engineering, Exploration Technology, Worked Upstream, Midstream, Downstream in Oil and Gas, Pipelines, Drilling, Refineries. I'm Interested in very big picture, game changers that come from sizeable economic deposits of Oil, Gas, Gold, Silver, Uranium, Specialty Metals used in... More
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CrOblet Creating real opportunity by leveraging energy technology
  • Simba Energy Inc. (SMB, SMBZF) 0 comments
    Mar 16, 2013 12:03 PM | about stocks: SMB

    Test

    Simba Energy is an Oil Exploration Play in Africa.

    SMB is the TMX symbol.

    Simba was created after a geologist exploring for diamonds in Africa was in a region of Kenya on land in close proximity to an oil exploration well for Africa oil. The discovery well Ngamia-1 turned out to be a company maker for Africa Oil.

    Simba Energy had not been created at that point, but the geologist witnessed the discovery well activity and quickly drove to the city to file or add mineral rights for Oil on his diamond exploration land or so the story goes.

    since that time Simba has done seismic and identified targets which it intends to obtain drilling permits and drill its own we'll into similar reservoir to its neighbor who found oil.

    Simba Energy has exploration blocks in Kenya, Liberia, Guinea, Ghana, Mali. The block 2A in Kenya is a 100% interest for Simba.P lans are for this block 2a to spud a well in 2013. It is trading at $0.08 in march 2013. This is a pure exploration play, with no production, only potential for discovery, if any oil is found They will have to build pipelines or get its product to market, for these reasons it's a trading idea, yet it has some highly prospective block of land already, which if productive could be fabulous for early investors.

    --Investor Presentation--

    Large, onshore, diversified portfolio of'high impact' early stage oil and gas assets in Africa.Low cost acquirer of assets with significant exploration and/or development activity on or adjacent to Simba's blocks. Large acreage positions in African frontier onshore basins.
    Excellent relations with host governments. Majority ownership and control of licences. Strong management team with enhanced technical and operational support Management supported by strong, local, on the ground presence in its priority countries

    Ahead of work commitments on all PSCs
    Onshore exploration licences in Kenya (100%), Chad (100%) and Guinea (60%, with an option to acquire remaining 40%)
    Onshore PSCs in Ghana, Mali and Liberia being ratified
    Technical and operational team expansion to support Simba's continued growth and activity levels
    Consolidating senior management in London Investment

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    Quoted from Simba Energy

    The original undertaking was to investigate and ascertain the hydrocarbon potential at the Company's three targets (P1, P2, P3) by first employing a block survey using passive seismic to confirm or identify areas of hydrocarbon potential to be followed up with 2D seismic for structure definition.

    This first phase of passive seismic has confirmed P1 to be comprised of two distinct and sizeable leads with excellent hydrocarbon response lying east and SSE of the city of Wajir. The first lead in P1 with an area of 29km² demonstrates the highest level of hydrocarbon seismic energy interpreted amongst all seven potential leads identified by the survey; the second and likely related lead is over 100km² in size with good response for hydrocarbon potential and lies from 8km to 20km+ to the SW.

    HighlightsSource Rock

    The Mandera Basin is Permo-Triassic to Tertiary in age with a sediment thickness of 10,000 meters. Potential source rock interval is mid Jurassic-Lower Cretaceous and comparable with the larger Mandera-Lugh basin in Ethiopia and Somalia

    Wells

    Only four wells have been drilled in the Mandera basin with oil shows encountered at 40-44m in the Tarbaj stratigraphic well drilled by Total

    Oil & Gas Shows

    In the Anza basin lower Cretaceous reef structures have been mapped with a potential reservoir thickness of 300m-500m. Source rock is likely Lower Cretaceous. The eleven wells drilled in the Anza Basin have encountered oil shows and/or gas shows

    Regional Seismographic Coverage

    Present 2D seismic coverage, although regional in nature, identified numerous structures and a major stratigraphic pinch-out. The limited seismic coverage available indicates a stable stratigraphic sequence with some very good exploration leads

    Exploration Interest

    Remaining of exploration interest to the Company is the flank of the basement high structure where two AMOCO wells drilled in 1987 (ELGAL#1 to 1,280 meters in Permian Karroo and ELGAL#2 to 1,908 meters in Triassic Karroo) were plugged and abandoned as no reservoir rocks were encountered

    Rock Maturity

    The area of the block overlying the Mandera basin is of particular interest as the analysis of the oil from the seeps at Tarbaj although severely biodegraded indicate a source rock maturity for the Mandera basin which is well within the oil window

    The Company will immediately begin re-interpretation of all available existing data, as well as initiate baseline environmental work, to support the design and planning of a new seismic acquisition program.

    --Stock--

    Pearl prospect in our 2A block

    As you can see in Taipans presentation slide 11 and 12 the pearl prospect is located in both block 2a and 2b, a big part of the P1 closing contour stretches in to our 2a block. So the string of pearls seems to be present in our block too. So when Premier and Taipan drill this prospect Simba is getting in on this for free, a $30 million drill.

    www.taipanresources.com/pdf/Corporate-Pr....pdf

    Read more at http://www.stockhouse.com/companies/bullboard/v.smb/simba-energy-inc?postid=21852802#Iem32orOCbYtTWF5.99

    Pearl prospect in our 2A block

    As you can see in Taipans presentation slide 11 and 12 the pearl prospect is located in both block 2a and 2b, a big part of the P1 closing contour stretches in to our 2a block. So the string of pearls seems to be present in our block too. So when Premier and Taipan drill this prospect Simba is getting in on this for free, a $30 million drill.

    www.taipanresources.com/pdf/Corporate-Pr....pdf

    Read more at http://www.stockhouse.com/companies/bullboard/v.smb/simba-energy-inc?postid=21852802#Iem32orOCbYtTWF5.99

    Pearl prospect in our 2A block

    As you can see in Taipans presentation slide 11 and 12 the pearl prospect is located in both block 2a and 2b, a big part of the P1 closing contour stretches in to our 2a block. So the string of pearls seems to be present in our block too. So when Premier and Taipan drill this prospect Simba is getting in on this for free, a $30 million drill.

    www.taipanresources.com/pdf/Corporate-Pr....pdf

    Read more at http://www.stockhouse.com/companies/bullboard/v.smb/simba-energy-inc?postid=21852802#Iem32orOCbYtTWF5.99

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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