It is very difficult for anyone to assume/predict value of...

It is very difficult for anyone to assume/predict value of licenses held by Swala as the probability of OIL discovery increases day by day and all the MAJORs want to get a deal done before the actual discovery as part of farm-in.

For me personally, below are the value of assets held by Swala (pre-ANN) and will considerably change based on detailed seismic results, CPR and post-drill

K-K --> 6 cents
Pangani --> 2 cents
12B --> 10 cents
Cash + Management --> 12 cents

IMO, Swala is trading below its fair value and compared to peers. Eyasi is considered to be a huge potential, even better than K-K and Pangani from analysis of researchers and EARS experts. I would value Eyasi in the range of 8-10 cents on award of contract. Block 31 is extended along Lake Tanganyika whose anology is similar to proven OIL basins and if at all Swala is awarded Block 31, I expect Swala to be at least in mid-50c.

Swala is loaded with more cash than needed(pre-drill) and I see more and more positives than negatives (in fact could not see any negatives as of today). Sentiment towards the stock in general is extremely positive and the fact number of shares available for trade are minimal is set to shoot the SP north faster than we expect (Expect one or two ASX speeding ticketing in short term). I am sure, whoever invested in Swala little long ago are already having returns of more than 60-70% and I expect Swala to be at least 20x in 3 years time. This might look little exaggerated but look closely at all ANN so far, you can understand why I value Swala to be multi-bagger which could change all our future for better.

To put things in simple, we have initial seismic of 3 basins in K-K and we have analogy similar to that of Lokichar basin which is estimated to contain more than billion barrels of OIL (500 mmbls recoverable as of recent drills and still expanding). K-K is considered our secondary target wherein 12B is the primary focus and if Tullow is entering for farm-in with us, little said the better. In my opinion, these are the time to load up as I believe jump in SP will not be 5c or 10c but could even be in the range of dollars if we prove OIL similar to that of Lokichar or Albert Graben or for that any commercial discovery with 100 mmbls recoverable.

If we are lucky enough, Swala SP could easily reach double figures (not cents but dollars) in 3 years time once we drill our targets and prove commercial OIL discovery. If we have even 20% of estimated OIL in 12B (2.2 billion recoverable estimated from 22 billion trapped potentially), we could retire for good. I wish and hope Swala Management does not consider any take over offers or farm-in with anyone before Oil discovery. I am hopeful, positive and enthusiastic about Swala and its future and I sincerely wish all the very best to my fellow holders.!

Please DYOR. These are my thoughts only based on the ANN and observations.