Simba Energy Inc. (TSXV:SMB,OTCQX:SMBZF) announced that it signed a Protocole d’Accord with the Republic of Chad and as a result now holds 100 percent interests in the production sharing contracts of three oil and gas concessions.
Hassan Hassan, Simba’s managing director of operations, commented:
Simba is very enthusiastic about the potential of having secured 100% interests in these three concessions. Each block is potentially a company maker in its own right and nicely complements our existing asset portfolio in terms of long-term growth potential. We consider this a unique and significant early-in opportunity for the Company and its shareholders.