Ann: Swala in Legal Dispute with Otto Energy,OEL-SWE.AX, page-32

just took a look through the SWE Annual Report and found this note to the accounts:

21. CONTINGENT LIABILITIES
During the year Swala Oil and Gas (Tanzania) Plc (“Swala Tanzania”) completed a farm-out transaction with Tata Petrodyne Limited (“Tata”) in respect of the Pangani licence in Tanzania whereby it transferred a 25% participating interest in the licence to Tata. Subsequent to execution of the farm-out agreement with Tata, Swala Tanzania and Otto Energy (Tanzania) Pty Ltd (“Otto Tanzania”) concluded a non-binding conditional heads of terms detailing some principal terms of a farm-out agreement whereby Otto Tanzania would transfer to Swala Tanzania a 12.5% participating interest in the Pangani licence for a one half share of the cash consideration received by Swala Tanzania from Tata under the Tata farm-out agreement. However, as at reporting date, this transaction had not occurred because of ongoing discussions in relation to the possible relinquishment of the Pangani licence and the parties not having executed a formal farm-out agreement. If the non-binding conditional heads of terms were to be implemented in a farm-out agreement with Otto Tanzania then the consideration due to Otto Tanzania from Swala Tanzania would be approximately US $1.0 million.

the fact that Otto has filed a claim clearly shows they think it has some merit over and above what Swala has noted here.​