Paul Vonk, VP Capital Market of Simba Energy (CVE:SMB), tells Proactiveinvestors that a deal has been agreed to farm-out 66% of its Kenyan oil project. The deal to retain 34% of the project in Kenya, Paul says, the money going to Simba, carried, equals the SMB market cap.
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Monday 13 May 2013
Simba Enegy farms-out 66% of Kenyan asset
Paul Vonk, VP Capital Market of Simba Energy (CVE:SMB), tells Proactiveinvestors that a deal has been agreed to farm-out 66% of its Kenyan oil project. The deal to retain 34% of the project in Kenya, Paul says, the money going to Simba, carried, equals the SMB market cap.
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