So SWE holders maintain their exposure to Swala Tanz, through an entity yet to be advised, (and hopefully dont get massively diluted from a pre Kito spud CR by Swala Tanz.....)
Given the recent win by Swala Tanz to get OEL's 50% of Kito, this seems a reasonable outcome for SWE holders.
If Swala Tanz can farmout that 50% for cash and free carry (similar terms to MW Upstreams offer to OEL last year), then that Swala Tanz exposure might actually be worth something as the JV moves to drill Kito.
The trad-ability of the Swala Tanz exposure is the question....
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