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 which is partly owned by Swala Energy Limited, and its Joint Venture partner Otto Energy Limited will acquire approximately 200km of 2D seismic data over the basin in the next four weeks and that data will be processed as the survey progresses.
This seismic survey is a follow-up to the successful programme carried out in the basin in 2013 where results indicated a sedimentary basin of about 3,000m in thickness.
Once the survey in the Moshi basin is complete seismic operations will move to the Kilombero basin where a further 430km of 2D data will be acquired.
“The commencement of the 2014 seismic programme underlines Swala’s commitment and capability to move ahead with its exploration programme. This work is intended to firm up potential drilling targets for a planned 2015 drilling campaign as required under the terms of the respective Production Sharing Agreements with TPDC,” says Swala’s CEO Dr. David Mestres Ridge.
The seismic follows a successful public listing on the Dar es Salaam stock exchange by Swala Tanzania that helped the company company raise approx. USD $4 million to fund its projects within the country
Swala Oil and Gas (Tanzania) PLC which is the operator holds 50% participating interest in the pangani license alongside Otto Energy (Tanzania) Pty Ltd with the remaining 50%. The two companies have similar participating interest in the Kilosa-Kilombero license.