{"id":3044,"date":"2015-06-03T08:41:36","date_gmt":"2015-06-03T08:41:36","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=3044"},"modified":"2015-06-03T08:41:36","modified_gmt":"2015-06-03T08:41:36","slug":"swala-energy-receives-funding-hayaat-international-exploration-east-africa","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-receives-funding-hayaat-international-exploration-east-africa\/","title":{"rendered":"Swala Energy receives Funding from Hayaat International for exploration in East Africa"},"content":{"rendered":"

Swala Energy has received interim funding from Hayaat International Limited a cornerstone investor who holds an equity interest of 9.2% of the Company.<\/p>\n

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 into the Pangani and Kilosa-Kilombero licences in Tanzania.<\/p>\n

Other key terms for the Loan include that Swala will draw in US$500,000 tranches and no interest shall be payable on the Facility.<\/p>\n

Other terms include that Swala will pay a fee of US$25,000 per US$500,000 tranche is payable and the Loan Facility is secured on the Company\u2019s assets.<\/p>\n

Swala and Hayaat have agreed the Loan Facility in order to advance the development of the Company\u2019s assets pending the approval of the farm-outs by the relevant governmental authorities and as part of the financial planning for the farm-out undertaken during the past months.<\/p>\n

“We are grateful to Hayaat International for their ongoing support and recognition of the efforts being undertaken by the Company\u2019s personnel as we organise the government\u00b4s approval of our farm-outs. This interim loan facility allows the Company to fund its near-term operations without the need to raise equity from our shareholder base at a time of significant activity,” says Dr. David Mestres Ridge, CEO of Swala.<\/p>\n

The Loan Facility will be used for working capital and the ongoing development of the Company\u2019s licences in Tanzania, Kenya and Zambia.<\/p>\n

\"Swala<\/a><\/p>\n

Hayaat International Limited is a private investment company headquartered in Abu Dhabi that has been a strong supporter of Swala since its initial AU$3.3 million investment in the Company in November 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":3024,"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":[942,3281,1252,1329,3282,1966,2447,2466,3266,2762],"class_list":["post-3044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-funding","tag-hayaat-international-limited","tag-kenya","tag-kilosa-kilombero-license","tag-loan-facility","tag-pangani","tag-swala-energy","tag-tanzania","tag-tata-petrodyne-limited","tag-zambia","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/05\/Swala-Energy.png?fit=455%2C492&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-N6","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":3044,"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":3044,"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":3036,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-completes-farm-tanzanian-licenses-tata-petrodyne\/","url_meta":{"origin":3044,"position":2},"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":3217,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-gets-ministerial-consent-tanzania-farm-outs\/","url_meta":{"origin":3044,"position":3},"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":3044,"position":4},"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":4889,"url":"https:\/\/www.oilnewskenya.com\/index.php\/otto-energy-pushes-to-remove-swala-energy-as-operator-in-tanzanias-kilosa-kilombero-license\/","url_meta":{"origin":3044,"position":5},"title":"Otto Energy pushes to Remove Swala Energy as Operator in Tanzania’s Kilosa-Kilombero License","author":"","date":"August 1, 2016","format":false,"excerpt":"Otto Energy Ltd through its wholly-owned subsidiary, Otto Energy (Tanzania) Pty Ltd, has said \u00a0it wants current operator Pangani and Kilosa-Kilombero licenses relieved off its role after defaulting in various cash calls. According to Otto Energy its subsidiary has issued various notices to Swala Oil and Gas (Tanzania) plc (SOGTP),\u2026","rel":"","context":"In "Oil Politics"","block_context":{"text":"Oil Politics","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/oil-politics\/"},"img":{"alt_text":"Kito Prospect Map","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/Kito-Prospect-Map.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/Kito-Prospect-Map.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/Kito-Prospect-Map.png?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/03\/Kito-Prospect-Map.png?resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3044","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=3044"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3044\/revisions"}],"predecessor-version":[{"id":3045,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3044\/revisions\/3045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/3024"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=3044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=3044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=3044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}