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Simba Energy Inc. (TSX-V: SMB.VN) Receives Positive Technical Report Indicating Strong Potential for Hydrocarbon Opportunities in Kenya

Posted on June 12, 2012 by OTC Equity

With news that Simba Energy Inc. (TSX-V: SMB.VN) had received a technical report compliant to N1 51-101 and CPR standards in respect to their 100% interest in the Production Sharing Contract for onshore Block 2A, Kenya, comprising 7,802 sq.km within the Madera-Lugh basin, near the juncture with the Anza basin and Lamu Embayment/Basin, shares of the oil and gas exploration company focusing on underexplored overlooked basins in its pursuit of hydrocarbon opportunities in Africa enjoyed a sudden spike on Tuesday, hitting a 52-week high of 0.265 before pulling back to the 0.220 level where they currently sit. Even with the slight slide to 0.220 shares of SMB.VN, remain well above their 50-day moving average of 0.168 and their 200-day moving average of 0.110 and their trading volume by mid-day on Tuesday had already surpassed the 4.7 million mark, more than twice their 50-day av...

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