Swala Confirms Prospective Resources in Kilombero Swala Energy Limited (“Swala” or “the Company”) is pleased to announce that RISC Operations Pty Ltd (“RISC”), an independent petroleum advisory firm, have completed their review of the resource potential of the Kito (‘Jewel’ in Swahili) prospect in the Kilombero Basin, located within the Kilosa- Kilombero licence in southern Tanzania. Swala has an indirect 32.5% interest in the licence. Net unrisked prospective resources allocated to the Swala indirect interest range from 12.5 million stock tank barrels (“mmstb”)(P90) to 110.5 mmstb (P10). The Kito prospect was identified from the results of the recently-completed seismic survey that Swala Oil & Gas (Tanzania) Limited (“SOGTL”) and its joint venture partner, Otto Energy (Tanzania) Pty Ltd (“Otto”) carried out over a 20km section of the 80km-long Kilombero Basin, as announced on the 8th November 2013. Kito is sufficiently large to have been intersected by a sufficient number of seismic lines to enable a resource assessment to be performed. RISC identified two main potential reservoir horizons, ‘Yellow’ and ‘Blue’.
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