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    VCCircle: Essel to Acquire 60% Stake in Canadian Firm Simba's African Oil & Gas Exploration Assets

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Summary

Dubai's Essel Group Middle East and Canadian firm Simba Energy Inc have signed a deal, which will see Essel take a 60% stake in Simba's African assets

by: Erica Mills

Posted in:

Press Notes, Africa

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VCCircle: Essel to Acquire 60% Stake in Canadian Firm Simba's African Oil & Gas Exploration Assets

Essel Group Middle East (Essel ME), a wholly-owned subsidiary of business conglomerate Essel Group, has signed an agreement with Canadian firm Simba Energy Inc to pick 60 per cent stake in its African oil and gas exploration projects for an undisclosed amount.

Essel ME will invest in Simba's portfolio of existing African exploration projects on a farm-in basis, the company said.

Read the full article HERE.

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