As per my understanding, other party involved in negotiations with TPDC for Eyasi was Beach Energy. I tried to find out any negotiation details or mention of Eyasi in their ANN, but could not.
Moreover, Beach Energy was planning to farm out Southern Tanganyika license they hold which should favor Swala for Eyasi. Below are key points that I believe would land us Eyasi officially,
* SOGTL listing in Dar Es Salaam stock exchange which would provide local investors an option to invest. TPDC has alloted a point basis system for awarding licenses and this would mean additional points for Swala
* K-K/Pangani exploration by Swala as an operator has been appreciated by TPDC and Swala Management have a good rapport with locals and TPDC officials
* One of the two investors who bought shares at premium and hold 3.3% of Swala (Renigald Mengi) is a well known figure in Tanzania with political background and it is no coincidence he decided to invest with Swala
* Commitment from Swala to improve education, facilities for Tanzanian people along with OIL exploration seems to boost the overall image of Swala as a Company
* TPDC website ANN saying it is in exclusive negotiations with Swala and PVD (50% W.I each) for Eyasi license and there is no mention of other parties involved in negotiations
IMO, award of Eyasi license would be a major milestone in Swala's story as I see the prospectivity of it similar to 12B and success in Eyasi would be very huge for our SP on LT. GLTA and DYOR.!
SWE Price at posting:
30.5¢ Sentiment: LT Buy Disclosure: Held
