Simba Energy Oversubscribes Private Placement to $4.335 Million

Simba Energy Inc. (the 'Company?) (TSX Venture: SMB) (Frankfurt: GDA)
(OTCQX: SMBZF) is pleased to announce that due to increased demand it
has oversubscribed its non-brokered private placement (the 'Private
Placement?) announced on March 2, 2012.

Subject to final approval of the TSX Venture Exchange, up to 54,191,250
units (the 'Units?) will be issued at $0.08 per Unit for gross proceeds
of $4,335,300. Each Unit will consist of one common share of the Company
and one common share purchase warrant (a 'Warrant?). Each Warrant will
be exercisable into one common share of the Company for a period of 24
months from closing at an exercise price of $0.16 per share.

The proceeds of the Private Placement will be used for advancing all
outstanding Production Sharing Contracts (PSC) and for general working
capital. Finder′s fees may be payable in whole or part on the Private
Placement in accordance with the policies of the TSX Venture Exchange.

The securities issued with respect to the Private Placement will be
subject to a four month hold period in accordance with applicable
Canadian securities laws. Closing of the Private Placement is expected
to occur on or before April 5, 2012 and is subject to receipt of all
necessary regulatory approvals.

About Simba Energy Inc.

Simba Energy is a Vancouver, B.C. based oil and gas exploration company
focusing on underexplored overlooked basins in its pursuit of
hydrocarbon opportunities in Africa (currently Kenya, Liberia, Mali,
Guinea and Ghana). These regions have shown increased promise for the
development of new hydrocarbon deposits. The Company's senior management
team aims to leverage its expertise and affiliations to pursue, secure
and develop strategic assets that demonstrate high potential for
drilling and or production operations; and to do so in a manner of best
practices and to the betterment of those communities where it operates.

ON BEHALF OF THE BOARD

Robert Dinning, President & CEO

We seek safe harbour.

Reader Advisory

'Neither TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.?

This release includes certain statements that may be deemed to be
'forward-looking statements?. All statements in this release, other than
statements of historical facts, that address events or developments that
the Company expects to occur, are forward looking statements, including
statements about the Private Placement. Forward looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words 'expects?, 'plans?, 'could? or 'should?
occur. Although the Company believes the expectations expressed in such
forward looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results
may differ materially from those in forward looking statements. Factors
that cause the actual results to differ materially from those in
forward-looking statements include gold prices, results of exploration
and development activities, regulatory changes, defects in title,
availability of materials and equipment, timeliness of government
approvals, continued availability of capital and financing and general
economic, market or business conditions. The Company cautions the
foregoing list of important factors is not exhaustive. Investors and
others who base themselves on the Company's forward-looking statements
should carefully consider the above factors as well as the uncertainties
they represent and the risk they entail. The Company believes that the
expectations reflected in those forward-looking statements are
reasonable, but no assurance can be given that these expectations will
prove to be correct. Please see the public filings of the Company at www.sedar.com
for further information.

Simba Energy Inc.

Robert Dinning, 604-641-4450

President & CEO

info@simbaenergy.ca

www.simbaenergy.ca

or

Mark
Sommer

Toll Free: 1-855-777-4622

mark@simbaenergy.ca