SMB Kenya Mar24

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3rd Eastern Africa Oil, Gas & Energy Week

March 2012

SMB: TSX.V | GDA: Frankfurt | SMBZF: OTCQX


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Simba's Pan-African Presence

InstitutionalHoldings

Management&

Close Affiliates

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Kenya -100% ProductionSharing Contract for Block 2A

Republic of Guinea - 60%interest in onshore Blocks 1 & 2

Mali 100% in Block 3 Liberia Advanced

negotiations to convertonshore HydrocarbonReconnaissance Permit 001into a PSC

Ghana Application filed forPSC in the onshore VoltanBasin


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Management&

Close Affiliates

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Potential of Block 2A

Area of 7,801sq.km 2D seismic over 500km Covered by gravity and

aeromagnetic surveys

Block 2A is potentially part of alarge unexplored East Africanbasin

Has good potential oil system(Source, Reservoir & seal Rocks)

Surrounded by several gas & oilseepages

Has potential stratigraphic trapsand possible compartmenttraps

Sedimentary section ofMandera Basin is over 10,000min thickness

Kenya: Block 2A Summary


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EGAL 1:

Drilled by AMOCO (012247N 39

5309E) total depth 1, 280 reachedto Permian Karroo in 1987, P & A with

(objective of Stratigraphic well

control)

EGAL 2:

AMOCO 012732.708N

395840.063E 1,908 Triassic Karroo1987, P & A with (Stratigraphic control

well)

Kenya: Block 2A

SIMBA

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Africa Oil

Afren

BLOCK 2A

Lion Petroleum

ELGAL-2

ELGAL-1

Kenya: Historical Seismic Shot Block 2A

Simba Energy


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Area 1 is associated with the Tarbaj oil seep 50 km away 1,200km of seismic planned this year on Block 1 by Afren

West of the Block 2A

750 km of seismic has

been recentlycompleted on Block

9 by Africa Oil

Area 3

Albertine type

of play

Area 2 gas prospects in the Karoo and shallow oilprospects

South of the block 600km of seismic due to be shot inBlock 2B by Lion Petroleum

Area3

Area 1

Area2


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Kenya: Block 2A, Oil Source

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Over mature in drygas &

pyrobitumen window


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Tarbaj Oil Show | Tarbaj Core Drill

Tarbaj oil seep located in the Mansa Guda Triassic formationhas been sampled and analyzed by Cities services (1982)

Total and Core Laboratories with the following conclusions:

It has a medium maturity level and is partially biodegraded Tarbaj oil show demonstrates the existence of a source rockof marine origin located deeper in the basin

Tentative maturity 2D section using Lopatin method (Beicip-Franlab in 1994) shows that the Lower/Mid Jurassic is in the oil

windows

This is confirmed by regional results which place the oilwindow between 1500m 3000m

Kenya: Block 2A, Tarbaj Oil Show

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Kenya: Mandera Basin

The basin is onshore The basin is Permo-Triassic to

Tertiary in age

Sediment thickness ranges upto 10km

Divided into three blocks Four wells drilled Potential source rock interval

in Mid Jurassic-LowerCretaceous

Oil shows encountered at40m-44m in the Tarbajstratigraphic well drilled by

TOTAL

Source rock potential iscomparable with the largerMadera-Lugh basin in Ethiopiaand Somalia

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Kenya: Anza Basin

The basin lies onshore Reef structures have been

mapped lower cretaceous

Reservoir rock: Bioclasticlimestones

Potential reservoir thickness:300m-500m

Source rock: Lower Cretaceous Divided into four blocks Eleven wells drilled in Anza Basin Oil shows encountered between

970m-1020m

Gas shows encountered between2150m-4290m

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Africa Oil

Afren

BLOCK 2A

Lion Petroleum

ELGAL-2

ELGAL-1


Simba Energy


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Kenya: Block 2A Seismic

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Input Data

Data Preconditioning

1. Timeline removal2. Brightness, contrast, intensity

enhancement

3. Spot, sketch and scratch removal

Image Registration

Main process

Quality control

Post enhancement

Kenya: Workflow - Vectorization

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15LINE VTU-03

Before

After


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LINE VTU-03 (SEGY)


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LINE VTU-01


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LINE VTU-01 (SEGY)


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Reservoir: reservoir provided from any sandstone such as the

Wajir (equivalent of the Calub in Ethiopia) or above in theMansa Guda (equivalent of the Adigrat). The only limitation is

the burial history which could have locally degraded theporosity. As the Karoo is probably more gas prone, the porosity

is a lesser problem that for oil.

Seal: Shales can be found at any level, Elgal shales (equivalent

of Bokh formation in Ethiopia), or Mansa Guda shales.

Structures: Several structures have been evidenced in the South

of the study; Wajir area, North Wajir.

Timing: All structures inherited from the initial Karoo rift systemwere probably efficient for trapping at the end of the Triassic or

later when Karoo started to be mature.

Kenya: Geological Parameters

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Kenya: Potential Summary of Block 2A

Area is 7,801 sq.km 2D seismic over 500 km Covered by gravity and aeromagentic surveys Block 2A covers part of two under-explored basins inEast Africa

Has good potential oil system (source, reservoir & sealrocks)

Offset by a significant oil seepage Has potential stratigraphic traps and possiblecompartment traps

Sedimentary section of Madera Basin is over 10,000 m20


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TARBAJ


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Kenya: Block 2A Looking Forward

1. Rework 2D Seismic, completion mid to end of April. This is thefirst rework to combine all seismic lines on Block 2A (23) as wellas new public information on offsetting Blocks.

2. Simba has commissioned Sproule Petroleum ConsultantsCanada to do a COMPETENT PERSONS REPORT (CPR/51-101)

due 3rd week April.

3. Simba has commissioned GeoDynamics to do a passiveseismic spectroscopic survey over the most prospective areas

of the block, to be completed by the end of May.

4. Interpretation of survey report due end of July.5. After the evaluation of the above results, Simba will then

conduct conventional seismic either 2D, 3D and/or possibly

airborne gravity gradiometry.

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Corporate Profile

Capital Structure

Share price

Shares in issue

Market Cap

Warrants

Options

Fully diluted*as of March 2012

C$0.08*

140 million

C$11m

64m

12m

233m


Free Float

Management

&Close Affiliates

Major institutional shareholders include:

Alpha North Pinetree Capital Expedition Capital (Hong Kong) Prophet Fund Ubequity

Share Structure

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Directors & Management

John King Burns Chairman

Mr. Burns is a former Global Head of StructuredDerivative Finance for Barclays Metals Group,

Barclays Bank, London. Mr. Burns is an experiencedinternational executive in the global resourcessector and is currently a Senior Project Advisor to

Potomac Asset Management Co, in Maryland.

Robert Dinning President, CEO & Director

Mr. Dinning has a proven track record of success inthe natural resources sector, including acting as aDirector and/or Officer of several public

companies such as Industrial Mineral Inc., ATACResources Ltd., Rockhaven Resources Ltd., ApoloGold & Energy and Sonora Gold & Silver Ltd.,

Chairman of Paramount Gold and Silver andMeadow Bay Gold.

Hassan Hassan Managing Director Operations

Mr. Hassan is experienced in providingmanagement consulting, corporate finance and

business development services to public andprivate companies. Mr. Hassan spends a largeproportion of his time in Africa and has established

a proven track record inboth sourcing world classprojects and successfully completing complicated

acquisitions.

James W. Dick CTO & Director

James W. Dick P Geol., P. Eng., (APEGGA) is aPetroleum Specialist with in excess of 48 years of

petroleum industry experience. Jim spent 18years with Exxon group reaching SeniorExploration Specialist level. Also he was Vice

President Geology for the D&S InternationalConsulting (10yrs) a large international consulting

group, President of Quad Energy DevelopmentCorp. (10yrs) a public oil company and Chief

Geologist for Mercantile International PetroleumInc.

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Charles de Chezelles Non-Exec. Director

Mr. de Chezelles is a highly experienced financialindustry expert. Past positions include: GM, Banco

Real SA; Executive Director, Credit Suisse-FirstBoston (CSFB); Director, First Boston Europe;

Corporate Account Executive, Smith Barney, NewYork. Mr. de Chezelles is currently MD of OmegaTrust Company Limited (London) and sits on the

Board of several financial companies and Trusts.


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Contact Us

SMB: TSX.V | GDA: Frankfurt | SMBZF: OTCQX

Corporate Office

Suite 300

905 West Pender StVancouver, BC V6C 1H2

Canada

Tel: +1.604.641.4450

Fax: +1.604.669.9335Toll Free: +1.855.777.4622W. www.simbaenergy.ca

E. [email protected]

Documents

SMB Kenya Mar24