(MENAFN- ProactiveInvestors - N.America) Simba Energy Inc.'s (CVE:SMB) shares jumped by 6% on Monday after the company said its 2-D seismic acquisition program on block 2A in Wajir, Kenya, has been completed by Africa Geophysical Services Ltd.
The survey has acquired a total of 520 kilometres of 2-D seismic data on the block lying within the Mandera basin. Multilevel quality control checks were applied throughout the project to achieve a best-quality outcome.
The seismic data acquired are currently being interpreted to determine petroleum systems and various structural leads. This processing, integration and interpretation are now under way, and it is anticipated they will be completed in early first quarter in 2017. A further technical update will be provided as information becomes available.
A video presentation has been prepared covering its work in Wajir, Kenya, and can found on the company website in the next 24 hours.
"The data acquired by AGS is extremely good quality, and we are greatly encouraged from early interpretations that suggest block 2A contains very favourable structural and stratigraphic conditions that will lead to defined drill targets,' said Punkaj Gupta, chief executive officer of Simba Energy and EGME.
Simba shares were last up 5.9% at C$0.09 on Monday.
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