Business
Reports on Liberian Oil Seep Survey
Reports on Liberian Oil Seep Survey.
About this update from Simba Essel Energy Inc
[{"type":"text","content":"April 13, 2010, Vancouver, B.C., Canada – Simba Energy Inc. (the “Company”) (TSX.V – SMB, Frankfurt – GDA) advises it has submitted its Oil Seep Survey Report for the Field Reconnaissance Work undertaken in January, 2010, to the National Oil Company of Liberia (NOCAL). In accordance with requirements in its Onshore Hydrocarbon Reconnaissance License NR-001, the Company’s report concludes as follows:The Bassa Basin area is either deep enough for maturation of desired hydrocarbons or connected to the offshore sediments. The entire Seep Survey area can be regarded as one continuous seep, as the survey encountered multiple seeps in 9 separate localities. Also, under calm conditions such as early morning, an oil sheen is seen on all the rivers within the entire area of the seep survey.The presence of a hydrocarbon profile and the widely reported kerosene smell indicates the bubbles seen at all seeps are not swamp gas. Additionally, in order to address concerns about fuel contamination from the Robertsport International Airport situated on the licensed area, the lab report stated that heavy hydrocarbons (C30) were present and not refined kerosene.James Dick, Director, Geologist, and a qualified person, advises \"The high volatile oil associated with the seeps is a strong indication of mature oil. The onshore basin is either deep enough to have temperature and pressure levels capable of maturation or migration has come from offshore sediments.\" Mr. Dick recommends that future work be concentrated on obtaining subsurface stratigraphic data with a seismic survey program and the Company has requested approval from NOCAL that a seismic survey program be undertaken in the next phase of the reconnaissance program.The Company is proceeding with application to convert its Onshore Hydrocarbon Reconnaissance License NR-001 into a formal Production Sharing Contract as the Company will then be positioned to either carry out the seismic on its own, or consider other options.Management continues its stated policy to grow the Company with a strategy focused on the acquisition of other key resource assets throughout the continent of Africa and elsewhere. Simba Energy Inc. President and CEO Robert Dinning added, “I am encouraged with the efficient pace these results will bring to this potentially high impact p...