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Monday, March 21, 2016
Swala Oil & Gas (Tanzania) has received the resource review from Gaffney, Cline & Associates (GCA) on the resource potential of the Kilombero Basin in Tanzania’s Kilosa-Kilombero license. Swala has a direct 25% interest in the license.
GCA has re-assessed the magnitude of the Kito prospect in the Kilombero Basin, as well as estimated the prospective resources of a further four leads in the same basin that were identified during the 2014 seismic campaign. The analysis was based on newer seismic data and increases the best estimate gross Kito prospective resources to 97 million barrels in the Sequence 1 sandstone.
Swala has completed the tender process of the long lead items for the Kito-1 well and has issued invitations to tender to a number of regionally-based drilling contractors for submissions during March 2016.
The technical review of the Pangani license showed no structures of commercial interest and the JV has confirmed its desire to relinquish the license to TPDC.
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