Simba Energy Inc (TSX VENTURE: SMB) (CVE: SMB)(Frankfurt: GDA) is a junior oil exploration company currently exploring for oil in onshore Liberia, Cote D’Ivoire and Ghana in West Africa. + More info

• • The company has assembled a huge on shore highly prospective land package in Liberia (West Africa) that is being called a giant oil seep as the area is witnessing numerous oil seeps currently. These oil seeps is being currently identified as very light crude oil.
  • West Africa has seen huge interest in off shore oil exploration and had several successes. The on shore exploration is still in early stages.
  • The company now holds a Hydrocarbon Reconnaissance Licence in Liberia for 1,366 square kilometres land area within the prospective Roberts and Bassa Basins of south coastal Liberia
  • The Company is working with Liberian Oil Company to have a production sharing agreement. Since Liberia is new to onshore exploration, Simba may take time to negotiate a production sharing agreement.
  • Company has submitted an application for a production sharing agreement in Mali
  • Strong management team with well regarded professional geologists on the board of the company
  • Chevron has taken three blocks adjacent to Simba’s property in Liberia, suggesting the area may be highly prospective
  • Onshore exploration work is far more economical than offshore exploration work and so for a junior exploration company on shore exploration work is more affordable
  • In January 2011, the company raised a $3.3 Million in financing
  • Strong interest from institutions. For a very small cap name this is somewhat unusual and suggests there is a strong exploration potential, as sophisticated investors are ready to invest in this story.
  • According to some estimates 25% of the company is controlled by institutions.
  • While Liberia had a troubled past, the country has come someway to be a stable and democratic state headed by a US educated female leader
  • The company’s exploration plan is to complete a seismic program and drill an exploration hole

Risks

Company is at a very early stage and has no proven resource estimate. There is no assurance that
the proposed exploration program will be successful for the company.

Simba Energy Inc. News

February 10, 2011 9:42:00 AM West African energy exploration company is the new Resource Stock of the Week