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Swala inks Zambia onshore exploration contract

17th September 2014

Swala Energy has announced that its 93 per cent owned subsidiary company, Swala Energy (Zambia) Limited, has been formally awarded hydrocarbon exploration rights over Block 44 in the Republic of Zambia

Swala inks Zambia onshore exploration contract
During the first contract year Swala intends to reprocess and reinterpret the legacy seismic data as part of its work programme

"We are delighted with the award of Block 44 which, as previously advised, expands Swala’s asset portfolio into a potential hydrocarbon region with large energy demand,” said David Mestres Ridge, Swala CEO. “The company looks forward to starting its technical operations and to the active management of this new licence.”

The award of Block 44 has now been granted following ministerial consent from the ministry of energy in Zambia.

Block 44 lies in the southern part of the country and covers an area of 6,000 square kilometres on the margins of the Karoo-aged Kariba basin.

During the first contract year Swala intends to reprocess and reinterpret the legacy seismic data as part of its work programme.

Under the provisions of the award, Swala may withdraw after each of the first two years of the contract should the work conducted not confirm the basin’s prospectivity.

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