first announcement<\/a> on 2nd December 2014 in relation to the partial or complete farm-down of its assets in the East African Rift System.<\/p>\nSwala\u2019s board of directors says FirstEnergy will manage the process with a view of reviewing the Company\u2019s options to maximize the long-term value of the Company\u2019s portfolio, including a potential merger or sale of the Company.<\/p>\n
\u201cThe Company expects this review to be concluded in the coming months, and advises shareholders that the expressions of interest received to date are highly preliminary, and as such, there is no certainty that any offer will be made, or sale concluded, nor as to the terms of any offer or sale,\u201d reads a statement from Swala.<\/p>\n
Swala CEO Dr. David Mestres Ridge says data from the just completed seismic acquisition has made its acreage desirable for investors.<\/p>\n
\u201cThe completion of our seismic survey programmes in December 2014 and the clear indication from them of a large number of significant leads and prospects within our licences make this an opportune time to review the Company\u2019s options to maximise value from its portfolio ahead of the Company\u2019s planned 2015 drilling campaign,\u201d he says.<\/p>\n
Swala currently holds substantial equity in assets in Tanzania (Kilosa-Kilombero, Pangani licenses), Kenya (Block 12B) and Zambia (Block 44)and has an active business development program in Sub-Saharan Africa.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Swala Energy has announced that it has appointed London based First Energy Capital LLP as financial adviser to the Company as it considers interest from a third party to … Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":1929,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[265,283,871,892,893,1252,1327,1970,2448,2466,2762],"class_list":["post-2341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-block-12b","tag-block-44","tag-farm-down","tag-first-energy","tag-first-energy-capital-llp","tag-kenya","tag-kilosa-kilombero","tag-pangani-licenses","tag-swala-energy-limited","tag-tanzania","tag-zambia","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-BL","jetpack-related-posts":[{"id":2775,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-announces-progress-planned-farm-east-african-assets\/","url_meta":{"origin":2341,"position":0},"title":"Swala Energy announces progress in its planned farm in East African assets","author":"","date":"April 1, 2015","format":false,"excerpt":"Swala Energy Limited has announced that, following the completion on the 31st March 2015 of the strategic review process managed by FirstEnergy Capital LLP, the Company has received a number of expressions of interest from credible parties wanting to farm in to one or more of Swala\u00b4s licences. The company\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/swala-energy-ears.png?fit=329%2C474&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3044,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-receives-funding-hayaat-international-exploration-east-africa\/","url_meta":{"origin":2341,"position":1},"title":"Swala Energy receives Funding from Hayaat International for exploration in East Africa","author":"","date":"June 3, 2015","format":false,"excerpt":"Swala Energy has received interim funding from Hayaat International Limited a cornerstone investor who holds an equity interest of 9.2% of the Company. The loan is to be made available in two equal tranches and is repayable from the proceeds of the farm-outs with Tata Petrodyne Limited TPL which farmed\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/05\/Swala-Energy.png?fit=455%2C492&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2675,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-seeks-list-aim-market-london-stock-exchange\/","url_meta":{"origin":2341,"position":2},"title":"Swala Energy seeks to list on the AIM Market of the London Stock Exchange","author":"","date":"March 9, 2015","format":false,"excerpt":"East Africa focused Australian explorer Swala Energy has announced that it is in the preliminary stages of planning a listing on the AIM Market of the London Stock Exchange as the company seeks to improve its liquidity, open it to investment from the London capital markets that have experienced African\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":681,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-farms-out-block-12b-secures-funding-for-multi-well-drilling-program\/","url_meta":{"origin":2341,"position":3},"title":"Swala Energy farms out block 12B, secures funding for multi-well drilling program","author":"Samuel Kamau Mbote","date":"March 10, 2014","format":false,"excerpt":"Australian oil and gas company Swala Energy Limited has announced the signing of a binding\u00a0farm-out agreement for a 25% working interest in Block 12B (Kenya) with an international integrated\u00a0oil and gas company, that will see Swala free carried through two exploration wells. The principal terms of the farm-out agreement are\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/oil4.jpg?fit=628%2C468&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/oil4.jpg?fit=628%2C468&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/oil4.jpg?fit=628%2C468&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1276,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-requests-share-trading-halt-ahead-of-kenyas-farmout-announcement\/","url_meta":{"origin":2341,"position":4},"title":"Swala Energy requests share trading halt ahead of Kenya’s farmout announcement","author":"Samuel Kamau Mbote","date":"June 19, 2014","format":false,"excerpt":"Swala Energy Limited \u00a0has\u00a0requested that a trading halt be implemented in respect of all Swala securities quoted on the Australian bourse (ASX) \u00a0pending an announcement from the Company in relation to an update of the farm-out agreement for a 25% working interest in Block 12B in Kenya. The Company in\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/swala-energy-kenya-1-sm1.jpg?fit=337%2C328&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2103,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-hints-possible-farm-in-in-eastern-africa\/","url_meta":{"origin":2341,"position":5},"title":"Swala Energy hints possible Farm-in in Eastern Africa","author":"Samuel Kamau Mbote","date":"December 2, 2014","format":false,"excerpt":"Swala Energy has announced that it is in farm-in conversations in Eastern Africa as the company seeks ways of raising alternative funding transactions. This follows the withdrawal of a share purchase plan by the company\u2019s board as the company aims at raising $5 million to finance its drilling obligations ahead\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/swala-energy-1.jpg?fit=650%2C451&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=2341"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2341\/revisions"}],"predecessor-version":[{"id":2568,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2341\/revisions\/2568"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1929"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=2341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=2341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=2341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}