Monday, 5 November 2012

Simba Energy’s survey confirms hydrocarbon potential in Kenya Block 2A

Simba Energy (CVE:SMB) today told investors that a passive seismic exploration survey has confirmed good potential for hydrocarbons in Block 2A, onshore Kenya.
The survey assessed three existing target areas which will now be followed up with a 2D seismic programme to better define the structures.
It also discovered four new leads for further exploration.
Chief technical officer James Dick said that Simba now has sufficient information to be comfortable that a small 2D survey will be able to upgrade the main target areas and easily support a decision to drill.
"Here on Block 2A, in a manner complemented by our existing 2D data, the passive seismic survey has discovered four more potential leads for follow up at our primary and secondary leads (P1 & P2) and confirmed good potential for hydrocarbons,” Dick said.
The first target, tagged as ‘P1’, was confirmed by the survey as having two distinct areas. Of these two areas one demonstrates the highest level of hydrocarbon seismic energy interpreted amongst all seven potential leads in the survey. This has an area of 29 square kilometres.
The other area within the P1 target spans more than 100 square kilometres has a good response for hydrocarbon potential, Simba said.
Meanwhile it said that, in the ‘P2’ area, several had several interconnected leads with good hydrocarbon responses. And in the third area, ‘P3’, the responses fit ‘exceptionally well’ with present 2D coverage.
Simba expects the follow up 2D seismic will begin in the early part of next year, and planning work is now underway.
It plans to carry out a minimum of 200 kilometres of 2d seismic in this programme. This will help finalise the location and depth of the first exploration well – which will be in the ‘P1’ area.

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