{"id":5291,"date":"2016-10-14T10:17:32","date_gmt":"2016-10-14T10:17:32","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=5291"},"modified":"2017-01-24T16:31:09","modified_gmt":"2017-01-24T16:31:09","slug":"swala-energy-raises-up-to-120-million-to-fund-burundi-block-acquisition","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-raises-up-to-120-million-to-fund-burundi-block-acquisition\/","title":{"rendered":"Swala Energy Raises Up To $120 Million To Fund Burundi Block Acquisition"},"content":{"rendered":"

Swala Oil & Gas (Tanzania) plc has announced it engaged Exotix Partners LLP (Exotix) to place corporate bonds of up to a value of $120 million in order to finance successful acquisition of Block D in Burundi.<\/p>\n

Swala Energy says the successful acquisition of Block D in Burundi is part of its strategic intent of continuing to expand operations into other African jurisdictions.<\/p>\n

\u201cEngaging Exotix, with its unmatched experience in raising funds for African projects, is a step towards completing that transaction. As an active supporter of the development of the Tanzanian capital markets, Swala will also invite interested Tanzanian institutions, along with other investors, to participate in this Exotix placement,\u201d said Swala Energy CEO Dr. David Mestres Ridge.<\/p>\n

\"Burundi<\/a>Last month Swala Oil entered into an agreement with Surestream Petroleum Limited to acquire Surestream\u2019s wholly-owned subsidiary, Surestream Petroleum (Burundi) Limited which had a 100% working interest in Block D in the Republic of Burundi.<\/p>\n

 <\/p>\n

The block is partly onshore and partly offshore, and covers portions of the northern end of Lake Tanganyika, an area where oil seeps, slicks and tar balls have been reported<\/p>\n

Block D is located along Burundi\u2019s western border with the Democratic Republic of Congo at the northern end of Lake Tanganyika. The license primarily encompasses the offshore part of the lake, with minor acreage onshore. This region is of particular interest as it lies on the same trend as the multi-billion barrel Lake Albert oil discoveries along the western branch of the East African Rift System.<\/p>\n

The northern end of Lake Tanganyika consists of four half grabens, each with Neogene-aged rift sediments in excess of 4000m, significantly thicker than the analogous oil-bearing Albertine Basin. High geothermal gradients are likely to lead to maturity at shallower depths and thus open up the potential of shallow trapping in addition to deeper targets.<\/p>\n

The area is well-known for its oil seeps, slicks and tar balls, which indicate an active hydrocarbon system with possible up-dip migration from kitchens located on the western side of Lake Tanganyika. Analysis of the tar balls suggests a similar origin to that of the oil discovered in Uganda\u2019s Lake Albert but with a more terrestrial component.<\/p>\n

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

\u201cThe Burundi licence is a very prospective licence and its development will be helped by the nearby route of the proposed Uganda-Tanzania oil pipeline. We look forward to deepening our relationship with Surestream, who today become one of our principal investors,\u201d said Dr. David Mestres Ridge<\/p>\n","protected":false},"excerpt":{"rendered":"

Swala Oil & Gas (Tanzania) plc has announced it engaged Exotix Partners LLP (Exotix) to place corporate bonds of up to a value of $120 million in order to finance … 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":[116,5394,369,5398,4190,5396,1372,3599,5395,5397],"class_list":["post-5291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-albertine-basin","tag-block-d","tag-burundi","tag-corporate-bond","tag-dr-david-mestres-ridge","tag-exotix-partners-llp","tag-lake-tanganyika","tag-oil-seep","tag-surestream-petroleum-limited","tag-uganda-tanzania-oil-pipeline","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-1nl","jetpack-related-posts":[{"id":5939,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-oil-and-gas-secures-130-million-to-finance-tanzania-operations\/","url_meta":{"origin":5291,"position":0},"title":"Swala Oil and Gas Secures $130 million To Finance Tanzania Operations","author":"","date":"May 15, 2017","format":false,"excerpt":"Swala Oil & Gas (Tanzania) PLC has announced that it has entered into a letter of intent with a global institutional investor Exotix Partners LLP for the placement of junior secured 5-year corporate bonds covering the first investment tranche approximately US$130 million in debt financing to fund this material transaction.\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":6192,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-oil-gas-plans-local-bond-offering-tanzania-uganda\/","url_meta":{"origin":5291,"position":1},"title":"Swala Oil & Gas Plans Local Bond Offering in Tanzania and Uganda","author":"","date":"August 14, 2017","format":false,"excerpt":"East Africa\u2019s first listed oil and gas company Swala Oil & Gas (Tanzania) Plc has said it \u00a0plans investor meetings in Dar es Salaam and Kampala, Uganda, to offer bonds to local investors. According to the company the local tranche of 7-year retail bonds will have a coupon of 12-16%\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":6363,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-oil-gas-tanzania-reports-0-47m-loss-h1-2017-results\/","url_meta":{"origin":5291,"position":2},"title":"Swala Oil and Gas (Tanzania) reports $0.47M Loss in H1 2017 Results","author":"","date":"October 3, 2017","format":false,"excerpt":"Dar es Salaam stock exchange listed Swala Oil and Gas (Tanzania)\u00a0 and\u00a0a subsidiary of Swala Energy Limited. Swala Energy Limited is a public company listed on the Australian Securities Exchange has posted\u00a0 a $471,500 loss for the period that ended 30th June 2017 an improvement from the $481,800 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\/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":6653,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-set-acquire-first-producing-assets-tanzania\/","url_meta":{"origin":5291,"position":3},"title":"Swala Energy Set To Acquire First Producing Asset in Tanzania","author":"","date":"January 3, 2018","format":false,"excerpt":"Swala Oil and Gas entered into an agreement with Orca Exploration to acquire up to 40% \u00a0interest 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\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\/2018\/01\/songo-songo-field.jpg?fit=355%2C378&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":7653,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-oil-gas-terminates-further-investment-in-pae-panafrican-energy-corporation\/","url_meta":{"origin":5291,"position":4},"title":"Swala Oil & Gas Terminates Further Investment in PAE PanAfrican Energy Corporation","author":"","date":"April 16, 2019","format":false,"excerpt":"Swala Oil & Gas (Tanzania) PLC has announced that, pursuant to the terms of its investment agreement with Orca Explorations Group in respect of PAE PanAfrican Energy Corporation (PAEM), the parties have agreed to terminate the Agreement","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\/2017\/08\/swala-energy-orca-exploration.png?fit=331%2C303&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1499,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-ipo-in-tanzania-oversubscribed\/","url_meta":{"origin":5291,"position":5},"title":"Swala Energy IPO in Tanzania oversubscribed","author":"Samuel Kamau Mbote","date":"July 24, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Swala Energy Limited has provided an update of the Initial Public Offer (IPO) of is Tanzanian subsidiary Swala Oil & Gas (Tanzania) Plc that is in the process of listing on the Dar es Salaam Stock Exchange in Tanzania. The IPO which closed on the 4th of July\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":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5291","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=5291"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5291\/revisions"}],"predecessor-version":[{"id":5294,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5291\/revisions\/5294"}],"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=5291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=5291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=5291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}