Gosouth
I think SWE will struggle with financing. They state in the quarterly that drilling activity has greatly reduced in East Africa due to low POO.
If operators aren't drilling their own permits they wont be keen on paying a promote to fund SWE.
Also note at time of quarterly, processing of seismic still ongoing for KK, resumed for 12B, and interpretation begun for P.
Seems a bit premature to be marketing the prospects whilst still in the early stages of processing or interpretation.
Timing pressure from the dire financial position they've put themselves in I suppose.
I think the next announcement will be a private placement, or similar, to pay the bills while they hope and pray for a farmout deal.
SWE Price at posting:
9.8¢ Sentiment: None Disclosure: Not Held
