Gediminas Jasionis
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by Gediminas Jasionis Apr 19, 2012
0smb_chart.pngSIMBA ENERGY INC. (CVE:SMB) (PINK:SMBZF) share price gaped up after traders started to hunt for more African oil and gas players, not satisfied with the price action in the hottest ones right now.

SMB share price was up 24.2% this morning under a trading volume of 1.2 million. The company had no directly related news.

Traders started speculating on the stock because of the success of Tullow Oil plc (LON:TLW) and Africa Oil Corp. (CVE:AOI). Like AOI, Simba is comparatively cheap, considering the potential of properties in Kenya alone, and traders seems to be looking at it as yet another alternative African oil and gas stock that could follow the success of the Tullow/Africa Oil. 

Just a few days earlier Simba also announced a closing of $4.2 million non-brokered private placement. This financial strengthening will allow the company to advance their production sharing contracts as well as strengthen the general working capital position, which is another big plus in the eyes of traders.

simba_logo.jpgThere were also articles circulating around stating that the National Oil Company of Liberia has embarked on a major outreach campaign. Simba holds interest in 1.3 thousand sq kms of the onshore coastal strip of Liberia. The company is exploring the property since summer of 2010.

Comments (1)

1. Guest
April 20, 2012, 10:23AM

Quotes At least you got some of facts correct in your latest "Simba" article, although for a journalist your english grammar is horrible.
Why do you still make reference to GXX which was the previous "shell company" long before Simba Energy took over. By the way the symbol in Canada is SMB - NOT GXX. I'm sure the company would be curious to about the content of the "research report" your trying to peddle.

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