weekend lounge short term trading 6 -8th dec, page-15

Entry for stt list
SWE swala energy ltd
mc 55million
12million cash
Swala Energy is an Australian oil and gas company with assets in Kenya and Tanzania. Swala’s holdings are in the world-class East African Rift System with a total net land package in excess of 15,000km2
. New discoveries have been announced in a number of licences along this trend,including Ngamia, Twiga and Etuko, which extend the multi-billion barrel Albert Graben play
successfully developed by Tullow Oil plc into the eastern arm of the rift. Swala has an active operational and business development programme to continue to grow its presence in the hydrocarbon provinces of sub-Saharan Africa

Swala Energy (SWE) has secured >21,000km2 of net acreage in the highly prospective East African Rift, on trend and in the same play as recent large discoveries by Tullow and Africa Oil. The Company’s acreage captures ten entire basins across four permits (assuming Eyasi is awarded) in Kenya and Tanzania. Swala was incorporated in September 2010 with a focus on securing acreage in Central and Eastern Africa. It soon entered into exclusive negotiations for award of the 12B licence in Kenya (Swala 50%, Tullow 50% operator) and the Pangani and Kilosa/Kilombero licences in Tanzania (Swala 32.5% operator, Otto 50%). The three licences were awarded in February 2012, just before the Ngamia-1 discovery well by Tullow and Africa Oil in March 2012. All of the blocks are located in the same East African Rift System in which Tullow and Africa Oil have now made 5 discoveries from 5 exploration wells. The Company is in exclusive negotiations for a third Tanzanian Block, Eyasi, which is expected to be awarded in Q3/4 2013. Swala recently announced that it has also bid on three blocks on Zambia, the results of which should be known before the end of the calendar year. It is likely that the Company will participate in further bid rounds and also enter into direct negotiations for additional blocks to further expand its portfolio of assets through CY2014. The Company currently has >21,000km2 in total net acreage in the region (including Eyasi

http://www.swala-energy.com/documents/SWE_TenForThePriceOfOne_Initiation.pdf

http://investorshub.advfn.com/Swala-Energy-ASX-SWE-27126/