Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/simba-energy-terminates-negotiations-with-ajax-exp.shtmlSimba Energy terminates negotiations with Ajax Exploration
Simba Energy Inc. has terminated negotiations with Ajax Exploration Ltd. ('Ajax') of a definitive farmout agreement in respect of a farmout of a
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Simba Energy Inc. has terminated negotiations with Ajax Exploration Ltd. ('Ajax') of a definitive farmout agreement in respect of a farmout of a 66% interest and operatorship of the Company's 100% owned Block 2A, onshore Kenya.
The parties originally executed a memorandum of understanding which contemplated that Ajax would carry out additional exploration and drill one exploration well. The parties subsequently attempted to complete negotiations for a definitive farmout agreement but were unable to come to agreement on an acceptable program. Accordingly, both parties have mutually decided to terminate negotiations.
