Petroleum Africa
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Wednesday, December 24, 2014
Swala Energy Ltd. reached an agreement with Tullow Oil Kenya B.V and CEPSA Kenya Ltd. regarding equity distribution in respect to the JOA for Kenya’s Block 12B. Under the agreement, as of August 31, the operator Tullow will have 50% equity in Block 12B and Swala will also have 50% equity. CEPSA exited the acreage.
Swala CEO, David Mestres Ridge, commented, “We are pleased at the amicable resolution of the issue that arose in respect of Block 12B, which allows us to focus on the operational development of 12B ahead of a planned drilling campaign in 2015.”
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