Traps,

Yes, I saw that too . The PP closed @ .08 per share with an additional 1/2 share warrant conversion price of .16 /share. Life of warrant is about six months. I wish it were higher, or better yet, a bought deal financing, but it is what it is. I'm sure there are more financings to come as the money raised this time will be burned up quickly. Is this how you see it? Or are you more concerned about the low stock price sought by the company in this particular financing? Or both issues?

Regarding licensing status in Liberia , Simba currently has a "reconnaisance license", but the company has applied for a PSA (production sharing agreement) with the Liberian government energy arm, which they expect to receive later this month, February, 2011

The company is also pursuing PSA's in Mali and Ghana on other concessions

http://www.simbaenergy.ca/

P.S. This one looked good to me when I bought it. I'll add a few other things to these remarks with a supplemental post to follow.