{"id":6015,"date":"2017-05-29T12:18:26","date_gmt":"2017-05-29T12:18:26","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=6015"},"modified":"2017-05-29T20:02:23","modified_gmt":"2017-05-29T20:02:23","slug":"otto-energy-swala-oil-and-gas-agree-on-tanzania-disputes","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/otto-energy-swala-oil-and-gas-agree-on-tanzania-disputes\/","title":{"rendered":"Otto Energy, Swala Oil And Gas Agree On Tanzania Disputes"},"content":{"rendered":"

Otto Energy and Swala Oil and Gas (Tanzania) Plc have announced that they have entered into settlement and other commercial arrangements in respect of the various claims and disputes<\/a> concerning both the Pangani and Kilosa-Kilombero Licences, onshore Tanzania.<\/p>\n

Under the settlement of the claims and counter-claims concerning the Pangani Licence, including the claims made before the Federal Court in Australia (the Proceeding), Swala shall pay to Otto Energy a net sum of US$800,000 on or before 31 August 2017.<\/p>\n

Upon receipt of such payments, the Proceeding, including that against current and former directors of both Swala and Swala Energy Limited (subject to Deed of Company Arrangement) will be discontinued.<\/p>\n

The settlement has been reached on commercial grounds and does not represent an admission of liability by either party.<\/p>\n

In respect of the various disputes between OET and Swala in relation to the Kilosa-Kilombero Licence, the parties have agreed upon Otto Energy\u2019s withdrawal from the JOA and that OET shall pay third party creditors a total sum of US$249,016.<\/p>\n

According to the statement Swala has assumed the rights and obligations in respect of OET’s 50% participating interest.<\/p>\n

Swala and Otto have also entered into a royalty agreement under which Swala has granted to Otto a gross overriding royalty equal to 2% of revenue derived from OET\u2019s former interest.<\/p>\n","protected":false},"excerpt":{"rendered":"

Otto Energy and Swala Oil and Gas (Tanzania) Plc have announced that they have entered into settlement and other commercial arrangements in respect of the various claims and disputes concerning … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":1973,"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":[7,11],"tags":[3421,6180,1327,1940,1966,2449,2466],"class_list":["post-6015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-politics","category-top-news","tag-dispute","tag-federal-court-in-australia","tag-kilosa-kilombero","tag-otto-energy","tag-pangani","tag-swala-oil-and-gas","tag-tanzania","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/10\/kilosa-kilombero.png?fit=337%2C329&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1z1","jetpack-related-posts":[{"id":6387,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-pay-otto-energy-800000-tanzanias-pangani-settlement-agreement\/","url_meta":{"origin":6015,"position":0},"title":"Swala Energy to pay Otto Energy $800,000 in Tanzania\u2019s Pangani Settlement Agreement","author":"","date":"October 10, 2017","format":false,"excerpt":"The Federal Court of Australia has confirmed Swala\u2019s obligation to pay Otto Energy (Tanzania) Pty Ltd the sum of $800,000 agreed under the Pangani Settlement Agreement in May 2017 Under the settlement of the claims and counter-claims concerning the Pangani Licence Swala agreed to pay to Otto a net sum\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\/2017\/10\/swala-Tanzania-seismic-map.png?fit=264%2C375&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":6015,"position":1},"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":[]},{"id":5424,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tata-petrodyne-farm-in-behind-swala-otto-energy-dispute-in-tanzania\/","url_meta":{"origin":6015,"position":2},"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":579,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-commits-to-pangani-kilosa-kilombero-2nd-year-exploration\/","url_meta":{"origin":6015,"position":3},"title":"Swala Energy commits to Tanzania Exploration","author":"Samuel Kamau Mbote","date":"February 24, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Swala Energy, through its 65% owned subsidiary\u00a0Swala Oil & Gas\u00a0(Tanzania)\u00a0says it has informed the\u00a0Tanzanian Petroleum Development Corporation\u00a0(\u201cTPDC')\u00a0that it has committed to entering the second 2-Year exploration phase of the Initial\u00a0Exploration Term in both its\u00a0Pangani\u00a0and\u00a0Kilosa-Kilombero Production Sharing Agreement ('PSA')\u00a0licence areas, together with its Joint Venture partner\u00a0Otto Energy (Tanzania), a\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-tz.jpg?fit=768%2C454&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/swala-tz.jpg?fit=768%2C454&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/swala-tz.jpg?fit=768%2C454&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/swala-tz.jpg?fit=768%2C454&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1663,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-commences-2d-seismic-acquisition-over-tanzanias-moshi-basin\/","url_meta":{"origin":6015,"position":4},"title":"Swala commences 2D seismic acquisition over Tanzania\u2019s Moshi basin","author":"Samuel Kamau Mbote","date":"August 25, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Swala Energy Limited has announced the start of its 2014 2D seismic data acquisition programme over the Moshi Basin located within the Pangani exploration licence in northern Tanzania. Swala Oil and Gas (Tanzania) Plc \u00a0which is partly owned by Swala Energy Limited, and its Joint Venture partner Otto\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\/08\/swala-tanzania-seismic-map.png?fit=264%2C375&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3217,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-gets-ministerial-consent-tanzania-farm-outs\/","url_meta":{"origin":6015,"position":5},"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":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/6015","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=6015"}],"version-history":[{"count":2,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/6015\/revisions"}],"predecessor-version":[{"id":6017,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/6015\/revisions\/6017"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1973"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=6015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=6015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=6015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}