Simba Energy Closes Private Placement

Simba Energy Inc. (the "Company") (TSX VENTURE:SMB) (FRANKFURT:GDA) is pleased
to announce that further to its news releases of April 14 and May 17, 2010, it
has now closed its private placement. The Company issued a total of 31,222,357
units at $0.07 per unit for total gross proceeds of $2,185,565. Each unit
consists of one common share and one transferable share purchase warrant, each
warrant exercisable into one additional common share until May 31, 2012, a price
of $0.15 per share. 


The Company paid/issued the following in finder's fees in respect of the placement:



a.  Cash payments totaling $19,619; 

b.  280,280 non-transferable share purchase warrants, each warrant
    exercisable into one common share of the Company at a price of $0.15 per
    share until May 31, 2012; 

c.  1,240,000 non-transferable share purchase warrants, each warrant
    exercisable into one common share of the Company at a price of $0.10 per
    share until May 31, 2012. 



All securities issued under the placement are subject to hold periods expiring
on October 1, 2010.


Proceeds of the placement will be used for general working capital.

"The completion of this private placement is a significant move forward." said
Simba CEO and President Robert Dinning. "The Company once again is showing the
market that with our name change and the refocus that has come with our new
management team in place, Simba Energy is pursuing an aggressive path to
building shareholder value through the execution of our African targeted
strategic focus."


About Simba Energy Inc.

Simba Energy, Inc. (TSX VENTURE:SMB) (FRANKFURT:GDA) is an oil and gas
exploration company focused on hydrocarbon opportunities in Africa. Simba Energy
has already secured a Hydrocarbon Reconnaissance Permit in Liberia which extends
over an area of 1,366 sq. kms and covers the entire onshore extent of the
Robert-Bassa Basin.


The Company's shares are listed on the TSX Venture Exchange under the symbol SMB
as well as the Frankfurt Stock Exchange under the symbol GDA.


On Behalf of the Board,

"Robert Dinning", President and CEO

Simba Essel Energy (TSXV:SMB)
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