Simba’s work programme on Block 2A in Kenya is progressing well and early assessment of the existing data has identified two exploration leads on the acreage already. While we await the publication of a CPR and indications of the resource potential of Block 2A, Simba will conduct a passive seismic survey, expected to
commence at the end of May. The company has current cash in excess of C$3.0m which puts it in a strong position to accelerate the current stage of its Kenyan exploration programme over the next six months.
The scope of this survey covers 750km2 with 250 measuring points on 2km spacing to identify and
evaluate areas with hydrocarbon potential on Block 2A. The acquisition work in the field is expected to take 30 days with a report due within 30-45 days upon completion of field work.
The planned survey will cover a portion of both basins; the Mandera and the Anza, within Block 2A.
Simba has already identified two exploration leads on its licence by re-working existing 2D seismic data. These leads will receive the immediate focus of the survey along with any additional leads identified from ongoing 2D re-interpretation.
The potential areas identified will most likely be further evaluated by conventional 3D or 2D seismic and/or gravity gradiometer prior to selecting a drill site.
Read More"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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