Sad thing is ASX SWE now only owns 14% of Kito (58% of Swala Tanz who own 25% of Kito)
Based on the gross farmin transaction value of Kito, SWE's 14% free carried stake is only worth ~USD2m
If they were drilling it near term, I'd at least double that value pre drill for the speculative appeal, but its still peanuts.
Probably better off rolling the dice on the drilling outcome where you end up with nothing or maybe your money back if its a decent discovery.
I would expect something soon from OEL wrt Kito timing. I'm guessing it will be delayed to the 2017 weather window unless there's a breakthrough in jv negotiations.
SWE Price at posting:
3.7¢ Sentiment: Sell Disclosure: Not Held
