Seismic results (all three basins) looks very promising and to be true, the potential looks better than what I expected.
When I initially got into Swala, it is more because of 12B license as I already own Otto shares more than Swala and Otto had 50% interest in Tanzanian assets compared to 32.5% owned by Swala. I wonder if seismic results of Tanzanian licenses are so strong and indicative of very huge potential with high probability of commercial oil discovery, what would 12B seismic results look like ?
I believe Tanzanian licenses will be drilled first followed by 12B. By the time we start drilling in K-K and Pangani followed by 12B, we would start having seismic in Eyasi and probably Zambian licenses and I believe one economic oil discovery in any of these high potential basins would make Swala a mid-range Oiler company. If we hit economic oil discovery in 5 or more basins (out of 10 basins considering Eyasi will be awarded, Swala will truly be a major Oil company by end of 2016 as we would be having at least 1-2 billion proven resources going by the initial seismic.
Load up and be patient, you will be rewarded for sure. Mark my words, Swala are not just a sure shot multi-bagger but a company which could re-define meaning of blue-sky potential.
I would be double happy if they have more oil in K-K and Pangani license as it would be icing on the cake for me personally as I hold more Otto shares
Between, anyone knows why 2-D is carried out for only 20km in Kilombero license. From the ANN, it looks like they have completed seismic in K-K license covering three basins. So what happens to the 60km that is not covered in seismic ?
SWE Price at posting:
19.5¢ Sentiment: LT Buy Disclosure: Held
