October 12, 2010, Vancouver, British Columbia. Simba Energy Inc. (TSX.V: SMB), the oil and gas exploration company focused on the West African countries of Liberia, Mali and Ghana, announces the following update on its activities:
Simba is pleased to announce that the National Oil Company of Liberia (NOCAL) has issued its formal acknowledgment confirming receipt of the Company’s Application to convert its current Hydrocarbon Reconnaissance License NR-001 into a Production Sharing Agreement (PSA).
Robert Dinning, Chief Executive Officer of Simba, said, “We are pleased to reach this important milestone with the submission of our detailed Production Sharing Agreement application to the National Oil Company of Liberia (NOCAL) to convert our Hydrocarbon Reconnaissance Permit, into a Production Sharing Agreement.”
Mr. Dinning added, “We view recent interest in the area directly offshore in Liberia by Chevron, one of the world’s leading oil companies, as being very positive both for the Company and for oil and gas prospects in Liberia generally. The increased activity offshore in Liberia with Chevron acquiring three large blocks has increased the exploration activity dramatically in the area with five offshore wells planned by mid year in 2011.”
ON BEHALF OF THE BOARD “Robert Dinning”, President & CEO
For further information contact Simba Energy Inc., Robert Dinning, Chief Executive Officer at 604 641 4450, [email protected] or:
Conduit PR (London)
Jonathan Charles +44 (0)20 7429 6611
[email protected] +44 (0)7791 892509