{"id":2775,"date":"2015-04-01T09:47:39","date_gmt":"2015-04-01T09:47:39","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=2775"},"modified":"2015-05-18T19:06:46","modified_gmt":"2015-05-18T19:06:46","slug":"swala-energy-announces-progress-planned-farm-east-african-assets","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-announces-progress-planned-farm-east-african-assets\/","title":{"rendered":"Swala Energy announces progress in its planned farm in East African assets"},"content":{"rendered":"

Swala Energy Limited has announced that, following the completion on the 31st March 2015 of the strategic review process managed by FirstEnergy Capital<\/a> 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.<\/p>\n

The company that holds interest in Tanzania (Kilosa-Kilombero, Pangani licenses), Kenya (Block 12B) and Zambia (Block 44) is seeking a partner as the company seeks ways of raising alternative funding transactions.<\/p>\n

\u201cDuring this process a substantial third party has approached the Company to request, for consideration, a period of exclusivity during which to carry out due diligence on the Company\u2019s assets, with a view to concluding farm-in agreements on one or more of the Company\u2019s projects,\u201d reads \u00a0an update by company secretary Adrian Di Carlo in December 2014.<\/p>\n

A likely target for the farm-in is the 25% share expected to be re-assigned in Kenya\u2019s block 12B from Spain\u2019s Compa\u00f1\u00eda Espa\u00f1ola de Petr\u00f3leos CEPSA<\/a> after its decision to withdraw from the licence on 31st August 2014.<\/p>\n

The funds are to be applied to fund additional near-term work on the Company\u2019s Tanzanian and Kenyan licenses, as well as for business development and general administrative purposes.<\/p>\n

Swala also announced earlier this month that it is in the preliminary stages of planning a listing<\/a> 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 oil and gas success, and expose it to larger potential investment that can aid the Company\u2019s continued development.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":1747,"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":true,"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":[265,283,431,494,871,872,3060,1252,1327,1451,1969,2447,2466,2762],"class_list":["post-2775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-block-12b","tag-block-44","tag-cepsa","tag-compania-espanola-de-petroleos","tag-farm-down","tag-farm-in","tag-first-energy-capital","tag-kenya","tag-kilosa-kilombero","tag-london-stock-exchange","tag-pangani-license","tag-swala-energy","tag-tanzania","tag-zambia","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/swala-energy-ears.png?fit=329%2C474&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-IL","jetpack-related-posts":[{"id":2341,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-appoints-financial-advisor-as-it-considers-farm-down-in-east-africa\/","url_meta":{"origin":2775,"position":0},"title":"Swala Energy appoints financial advisor as it considers farm-down in East Africa","author":"Samuel Kamau Mbote","date":"January 21, 2015","format":false,"excerpt":"\u00a0 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 review the Company\u2019s assets available for farm-down. Swala says that it has continued to receive additional levels of interest since\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":3036,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-completes-farm-tanzanian-licenses-tata-petrodyne\/","url_meta":{"origin":2775,"position":1},"title":"Swala Energy Completes farm-out of Tanzanian Licenses to Tata Petrodyne","author":"","date":"June 1, 2015","format":false,"excerpt":"Swala Energy Limited has announced that Swala Oil and Gas (Tanzania) Plc has reached agreement with Tata Petrodyne Limited a subsidiary of the multinational Tata Sons Limited, under which TPL shall farm into the Pangani and Kilosa-Kilombero licences in Tanzania. Tata Sons Limited is the holding company of the Tata\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":2436,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-receives-funding-for-exploration-in-its-east-african-acreage\/","url_meta":{"origin":2775,"position":2},"title":"Swala Energy Receives Funding for Exploration in its East African Acreage","author":"Samuel Kamau Mbote","date":"December 29, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Swala Energy Limited has announced that Swala has received US $750,000 under the terms of the Convertible Note Facility pursuant to the Company\u2019s ASX Announcement in mid December. Under the terms of the Facility 750,000 Convertible Notes will be issued subsequent funding of up to US $750,000 per\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":2103,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-hints-possible-farm-in-in-eastern-africa\/","url_meta":{"origin":2775,"position":3},"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":[]},{"id":1170,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-oil-and-gas-to-raise-kshs-260-million-in-tanzanian-ipo\/","url_meta":{"origin":2775,"position":4},"title":"Swala Oil and Gas to raise Kshs.260 million in Tanzanian IPO","author":"Samuel Kamau Mbote","date":"June 9, 2014","format":false,"excerpt":"Swala Oil and Gas will starting today open its shares to the Tanzanian public selling 9.6 million shares at TZS 500 (approx. $0.31) a share as it seeks to get additional funds to the working capital. The initial public offer that starts today will close on 4th July with the\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\/06\/swala-energy.jpg?fit=606%2C441&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/swala-energy.jpg?fit=606%2C441&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/swala-energy.jpg?fit=606%2C441&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3888,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-completes-farm-out-of-kilosa-kilombero-and-pangani-licence-interests-to-tpl\/","url_meta":{"origin":2775,"position":5},"title":"Swala Energy Completes Farm-Out Of Tanzania’s Kilosa-Kilombero And Pangani Licence Interests To TPL","author":"","date":"October 8, 2015","format":false,"excerpt":"Swala Energy has announced that its subsidiary Swala Oil and Gas (Tanzania) Plc and Tata Petrodyne Limited (TPL) have finalised the outstanding terms of their farmout agreement for the Kilosa-Kilombero and Pangani licences in Tanzania. Following by the finalization the parties shall now proceed to payment of the reimbursable past\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\/2775","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=2775"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2775\/revisions"}],"predecessor-version":[{"id":2776,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/2775\/revisions\/2776"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1747"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=2775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=2775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=2775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}