![\"Swala](\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/swala-energy-ears.png?resize=329%2C474&ssl=1\")
<\/a><\/p>\n <\/p>\n
Swala Energy estimates that it will be fully carried for the costs of the remainder of its commitment obligations on both licences and is therefore well positioned to move quickly towards the drilling campaign(s) in what it believes is a highly prospective region, as highlighted by the successful seismic campaigns previously reported.<\/p>\n
<\/p>\n
Swala was advised by FirstEnergy Capital and TPL was advised by Rand Merchant Bank.<\/p>\n
According to Swala Energy CEO Dr. David Mestres Ridge the farm-out allows the company to fund its license commitment.<\/p>\n
“This farm-out allows the Company to fund its commitment obligations in a way that materially reduces the risk exposure to our shareholders without the need to raise additional share capital at this time. \u201cI would like to thank FirstEnergy for their professional approach in running the farm-out process and for generating interest from such highly respected groups,\u201d says \u00a0David.<\/p>\n
With the farm-out in two Tanzanian licenses complete focus shifts to the possible farm out of our Production Sharing Contract for Block 12B in Kenya, also spearheaded by FirstEnergy Capital.<\/p>\n
\u201cSwala will now focus on securing the necessary consents and governmental approvals to allow the newly formed joint venture to progress the drilling programmes on both licences and we look forward to updating the market with guidance on when these will begin,” he adds.<\/p>\n","protected":false},"excerpt":{"rendered":"
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 … Read More<\/a><\/p>\n","protected":false},"author":24,"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":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":[265,3269,3270,1252,1327,1940,1966,3271,2447,2453,2466,3268,3266,3267],"class_list":["post-3036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-block-12b","tag-bombay-stock-exchange","tag-firstenergy-capital","tag-kenya","tag-kilosa-kilombero","tag-otto-energy","tag-pangani","tag-rand-merchant-bank","tag-swala-energy","tag-swala-tanzania","tag-tanzania","tag-tata-group","tag-tata-petrodyne-limited","tag-tata-sons-limited","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-MY","jetpack-related-posts":[{"id":3919,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tata-petrodyne-seals-farm-out-transaction-with-swala-energy-after-payment-of-5-7-million\/","url_meta":{"origin":3036,"position":0},"title":"Tata Petrodyne seals farm-out transaction with Swala Energy after payment of $5.7 million","author":"","date":"October 19, 2015","format":false,"excerpt":"Swala Energy Limited has confirmed that US$5.7 million has been received from Tata Petrodyne Limited (TPL) pursuant to the farm-out transaction with TPL for the Kilosa-Kilombero and Pangani licences in Tanzania. This was one of the outstanding terms of their farmout agreement for the Kilosa-Kilombero and Pangani licences in Tanzania\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\/10\/Tata-Swala.jpg?fit=200%2C200&ssl=1&resize=350%2C200","width":350,"height":200},"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":3036,"position":1},"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":[]},{"id":3217,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-gets-ministerial-consent-tanzania-farm-outs\/","url_meta":{"origin":3036,"position":2},"title":"Swala Energy gets Ministerial Consent for Tanzania Farm-Outs","author":"","date":"August 6, 2015","format":false,"excerpt":"Swala Energy Limited has reported that its subsidiary company Swala Oil and Gas (Tanzania) Plc has received a no objection notice from the Tanzanian Ministry of Energy and Mines to the farm-out of 50% of its interests in the Kilosa-Kilombero and Pangani licences to Tata Petrodyne Limited (TPL). The consent\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":5424,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tata-petrodyne-farm-in-behind-swala-otto-energy-dispute-in-tanzania\/","url_meta":{"origin":3036,"position":3},"title":"Tata Petrodyne Farm-in behind Swala, Otto Energy dispute in Tanzania","author":"","date":"November 23, 2016","format":false,"excerpt":"A simmering dispute between two Australian companies Swala and Otto Energy in Tanzania could have emanated from a failed joint farm-down by Tata Petrodyne Limited. According to Swala Energy in it latest presentation to shareholders the two joint venture partners had earlier agreed on a joint farm-down by Tata Petrodyne\u2026","rel":"","context":"In "Oil Politics"","block_context":{"text":"Oil Politics","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/oil-politics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/10\/Tata-Swala.jpg?fit=200%2C200&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":7920,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-oil-gas-tata-petrodyne-limited-partnership-ends-in-tanzanias-kilosa-kilombero-licence\/","url_meta":{"origin":3036,"position":4},"title":"SWALA OIL & GAS, TATA PETRODYNE LIMITED PARTNERSHIP ENDS IN TANZANIA’S KILOSA-KILOMBERO LICENCE","author":"","date":"January 22, 2020","format":false,"excerpt":"Swala Oil & Gas (Tanzania) plc in its December announcement said it had exercised its option under the Kilosa-Kilombero Joint Operating Agreement to require Tata Petrodyne Limited to withdraw from the JOA and the Kilosa-Kilombero Production Sharing Agreement . Folllowing the withdrawal Swala\u2019s Participating Interest increased from 75% to 100%,\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":"","width":0,"height":0},"classes":[]},{"id":3044,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-receives-funding-hayaat-international-exploration-east-africa\/","url_meta":{"origin":3036,"position":5},"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":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3036","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=3036"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3036\/revisions"}],"predecessor-version":[{"id":3037,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3036\/revisions\/3037"}],"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=3036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=3036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=3036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Swala](\"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/swala-energy-ears.png?ssl=1\")
<\/a><\/p>\n