Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Simba Energy Is Still Hungry, Says Edison 0 comments
    Jan 18, 2013 10:34 AM

    Simba Energy (CVE:SMB) is still hungry to extend its portfolio, says investment research boutique Edison.

    The Toronto-listed oil junior, with a standout prospect in Kenya, added more depth to the exploration pipeline this month with new projects in Chad.

    And in a note today Edison analyst Will Forbes says the new prospects look promising - he also points to recent deal activity nearby related to Glencore, which paid $331mln farming into proximate production and development blocks.

    Forbes reckons the explorer could be worth around 20 cents a share - double the current market value.

    The main focus at the moment is Kenya, where Simba recently completed a seismic exploration programme and began a farm-out process.

    This has attracted significant interest, accroding to Forbes, who also highlights that Marathon, Tullow and Africa Oil have already been attracted to projects in Kenya.

    "Although the Kenyan block stands pride of place in the portfolio, Simba has collected a portfolio of nine blocks in six countries (Mali, Guinea, Ghana, Liberia), all on a 100% basis," the analyst said.

    "The three blocks recently added in Chad further increase its geographical exposure. These are close to existing discoveries (and production) and we believe could provide further upside in the longer term."

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

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.