the aoi reirate., page-6

Please use basics before posting on a public forum.
If SOGTL ends up raising 3mn or more, SWE interest will be reduced from 65.13% to 60% which will bring down Swala interest from 32.5% to 30. Even if Tanzanian Government wish to exercise 15% rights (I am yet to go through terms and conditions in detail), SWE will end up with 25.5% interest in Tanzanian assets (15% of 30% is 4.5%)

If what most of us predict/wish/assume is right at this point in time, OIL resources in Tanzania alone will be more than a BBLs (Kilosa, Kilombero, Kidatu and 2 basins in Pangani). Add Eyasi to this which is considered better than K-K and Pangani licenses, you are having resources with potential of multi-billion barrels of Oil in Tanzania alone. I understand that we are in very initial stages and we have a long road ahead to prove the resources. But we may not be just day dreaming considering the initial seismic and confidence shown both by Management and investors. Even if we hit 200-300 million barrels of Oil in all the basins put together, our SP would be more than 10$ taking dilution and other risk factors in to account. I would leave it to you to calculate un-risked potential.

Just a remainder that our 12B license in Kenya is considered sure shot hit and estimated to contain 10% of 22 BBLs trapped (2.2 billion barrel). If Tullow are interested even before doing initial seismic, you do not need any more explanation to define the potential of 12B. If these reasons are not enough, Swala might end up with one/two/three Zambian licenses with 83% W.I.

If Swala can fulfill even 20% of its potential, our SP would be in two digits. Oops, not cents but dollars I mean. Be patient and wait for 3-4 years, I am sure you will not regret.!