Essel Group Middle East (“EGME”) – Simba Essel’s partner in the PSC – who manage exploration activities in Kenya, advise that their geological team in Dubai have spent the past few months reviewing and analysing data obtained from three independent international resource consulting firms; Sproule International, CGG GeoConsulting, and XODUS, who in turn provided interpretation of seismic data previously carried out by Africa geophysical Services Ltd (“AGS”). That seismic survey produced a total of five hundred and twenty (520) kilometers of 2D seismic lines on Block 2A.

The EGME technical team have reviewed all data pertaining to the interpretation and have comprised a drill program which will be submitted to the Ministry of Energy in Kenya. This will be followed up with a technical presentation to the Ministry as part of their application to obtain a formal permit to drill.

EGME is also in advanced negotiations with a major drilling company regarding a drill program for Block 2A in Kenya. Once finalized, this drilling agreement will be submitted to the Ministry of Energy in Kenya for approval and issuance of a permit for drilling purposes.

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