It is much much cheaper than what you think for on-shore drill. Google search for on-shore drill costs which will give you a indication of what could be the over all costs on a best estimate as number of factors vary i.e. depth, drill rig type, number of days etc.,
On an average, it could be as low as 1mn to high of 15-20mn. Also, remember we would need to arrange finance for 32.5% only (K-K/Pangani) which is less than one-third of drill costs and should be relatively easy for Swala Management. If Kito prospect drilling turns out to be successful, Glory days starts there for Swala and us. If not, I am sure 12B will come to the rescue. Oh yes, we have Pangani and most probably Eyasi as backup. I am sure we have HELL A LOT OF OIL in at least one of our basins if not all TEN. IMO, commercial OIL hit in one of the prospects in any of the license is enough to propel us to dollars or in other words > 5-bagger from IPO price.
These are my opinions only, please DYOR.!
SWE Price at posting:
30.0¢ Sentiment: LT Buy Disclosure: Held
