Simba Energy Sets New Option Pricing
25 Ottobre 2012 - 10:17PM
OTC Markets
October 25, 2012, Vancouver, B.C., Canada. Simba
Energy Inc. ("Simba" or the "Company") (TSXV: SMB; Frankfurt: GDA; OTCQX:
SMBZF), announces that is has re-priced a total of 4,550,000
options held by directors and officers of the Company from $0.20
per share to $0.13 per share. The re-pricing of these
options is subject to the approval of disinterested shareholders,
which approval will be sought at the Company's Annual General and
Special Meeting scheduled for December 18, 2012. The
Company also announces that is has re-priced a total of 1,200,000
options held by consultants of the Company from $0.20 per share to
$0.13 per share. The re-pricing of all the foregoing
options is subject to the acceptance of the TSX Venture
Exchange.
About Simba
Energy:
The Company is a Vancouver, BC Canada based oil & gas
exploration company focused on onshore Pan-African
opportunities. It has recently signed a Production
Sharing Contract ("PSC) with the Republic of Chad for 100%
interests in three prospective oil & gas blocks within the
Doba, Doseo and Erdis basins. The Company now holds a
diversified portfolio of majority or 100% interests in several
prospective oil & gas exploration assets. Simba has
recently completed and is awaiting final results of the passive
seismic survey carried out at its Block 2A in Kenya, where it
currently holds a 100% interest, and is actively pursuing formal
farm-in discussions with a number of interested
parties.
Additionally the Company holds a 60% interest in Blocks 1 & 2,
onshore Republic of Guinea with current efforts to finalize the
first work program with the energy ministry now
underway. The Company is also the successful applicant
for Block 3 in Mali and has applications pending for onshore blocks
in Liberia and Ghana.
We seek safe harbor.
ON BEHALF OF THE BOARD
"Robert Dinning", President& CEO.
For further information contact: Ph. 604-641-4450, or
visit: www.simbaenergy.ca
, or email: info@simbaenergy.ca
, or Mark Sommer, Toll Free: 1-855-777-4622,
or;
In the UK, Jonathan Charles, jcharles@lionsgatecomms.com
, + 44 (0)779 189 2509.
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