By Dipo Olowookere
Essel Group ME has announced a change of name to Simba Energy Inc, which is now Simba Essel Energy Inc effective on Monday, April 24, 2017.
This information was disclosed in a statement issued by the firm on Wednesday.
It was disclosed that shareholders of Simba, at its recent Annual General Meeting (AGM), voted in favour of approving the two agreements that Simba entered into with EGME in 2015.
This included an agreement under which EGME was granted the right to earn a 60 percent interest in Simba’s production sharing contracts in Kenya, Chad, Liberia, Ghana and Guinea, by contributing 100 percent of the funding to carry out an exploration program on the PSCs.
Following receipt of shareholder approval, the TSX Venture Exchange has also advised that it has no objection to Simba proceeding with the EGME transactions.
Simba’s Board of Directors is to meet in the near future to review the seismic programme and other related data assembled in preparation of a drill program later this year on Block 2A, Kenya.
Adedapo Adesanya