Essel Group Middle East and Simba Energy confirm management changes
Essel Group Middle East is pleased to announce that at the Annual General Meeting of Simba Energy Inc. (“Simba Energy”) held yesterday in Vancouver, Canada, all resolutions put to shareholders were duly passed. Shareholders voted in favour of the resolution confirming Punkaj Gupta’s position on the board. He has been a director since 11th February 2016 and is currently serving as Simba Energy’s Chief Executive Officer. Mr Gupta will continue as the Chief Executive Officer of EGME.
The shareholders also voted to return Gagan Goel to the board and to support his promotion from Vice-Chairman to Chairman of Simba Energy. Mr Goel will continue as the Managing Director of EGME. In 2015, EGME secured a 60% participating interest in all five onshore production sharing contracts (PSCs) held by Simba Energy. Under the terms of this definitive farm out agreement, EGME will provide 100% of the exploration expenses on the assets in Kenya, Guinea, Chad, Ghana and Liberia. EGME is the largest single shareholder in Simba Energy, for the purposes of protecting shareholder interests on planned and future project developments.
Gagan Goel, Managing Director of EGME and Chairman of Simba Energy, said, “Punkaj Gupta’s appointment as Chief Executive Officer of Simba Energy back in February was an important step to strengthen the ties between both companies, and we are pleased to have the clear support of the shareholders.”
Punkaj Gupta, Chief Executive Officer of EGME and Simba Energy, said, “Simba Energy is at an extremely exciting stage of its development, with preparations for the 2D seismic survey now complete on the Block 2-A asset in Kenya, and the shooting of lines about to commence in the next 10-15 days, in preparation for the commencement of a drill programme later in 2016. I look forward to updating shareholders on our progress in due course.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation













