Orca Exploration

Swala Receives Approval To List Bonds On The Stock Exchange Of Mauritius

Swala Oil & Gas (Tanzania) has announced that the Stock Exchange of Mauritius has approved the Company’s Listing Prospectus, allowing the listing of the Company’s US$50 million Corporate Bonds on the SEM with Greenshoe Rights. The Company first announced the move to Mauritius on the 2nd of July 2018. The Company and its advisors will …

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Swala Announces Further Extension To The Second And Third Closing Dates Of The Orca Investment

Swala Oil & Gas (Tanzania) plc has announced that Orca Exploration Group Inc. (Orca) has agreed to an additional extension to the date by which the second closing and third closing of the previously announced investment by the Company in the Orca group of up to US$130 million must be completed from 11th May 2018 …

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Orca Exploration Announces Closing of the First Tranche of the Swala Investment

Orca Exploration Group has announced that the escrow release conditions have been met regarding the first tranche of the previously announced investment of up to US$130 million by Swala Oil & Gas (Tanzania) plc in the Orca Group. As a result, the definitive agreements for the Investment have been released from escrow and are delivered …

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Swala Energy Set To Acquire First Producing Asset in Tanzania

Swala Oil and Gas entered into an agreement with Orca Exploration to acquire up to 40%  interest in the Songo Songo producing assets currently held by the international finance corporation (IFC) for $130 million based on an agreed value of US$325 million as earlier announced in August. According to Orca Swala has agreed, subject to …

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Orca Exploration Receives Government approval of Additional Gas Plan 2 from the Songo Songo Field

Orca Exploration Group has announced the approval of the Second Additional Gas Plan (AGP-2) by the Government of Tanzania, more than doubling the available volume of Additional Gas for sale from the Songo Songo Field. Under the Production Sharing Agreement for the Songo Songo gas field, production is identified as “Protected Gas” or “Additional Gas.” …

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Orca Exploration completes offshore workover & drilling program phase at Songo Songo

Orca Exploration Group Inc announces the successful completion of its offshore workover and drilling program and the release of the Paragon M826 mobile drilling workover rig from the Songo Songo Main Field. The Off-Shore Programme of the Songo Songo Main Field development programme included workovers on three existing wells (SS-5, SS-7 and SS-9) and the …

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Orca Exploration Closes $60 million financing for Tanzania’s Songo Songo development from IFC

Orca Exploration has announced that it has entered into a loan agreement with International Finance Corporation (IFC), a member of the World Bank Group, for a US$60 million investment in the Company’s operating subsidiary, PanAfrican Energy Tanzania Limited (PAET). According to Orca Exploration the proceeds of the Loan will be used to fund part of …

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Inchcape Shipping Awarded logistics contract by Paragon Offshore in Tanzania

Inchcape Shipping Services (ISS) has announced it has been appointed by Paragon Offshore, Houston, as marine and logistic services provider for a new drilling campaign off the Songo Songo Islands, Tanzania – the first new commercial drilling project in Tanzania in a number of years. ISS will be providing a range of services for Paragon …

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Orca Exploration Receives $60 million financing for the Songo Songo development programme

Orca Exploration has announced that it is proceeding with the first phase of the Songo Songo development programme following World Bank board approval of the International Finance Corporation financing. Through its operating subsidiary, PanAfrican Energy Tanzania Limited the World Bank board approved an investment of $60 million by IFC currently contemplated as a subordinated, income …

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