Daily Archives: September 17, 2014

Swala Energy awarded Block 44 in Zambia

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

This announcement follows the announcement on 12th May 2014 when the company reported it had been offered exploration rights over Block 44 and was awaiting the formal award of the rights from the Ministry of Energy.

Block 44 which lies in the southern part of the country covers an area of 6,000km2 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 2 years of the contract should the work conducted not confirm the basin’s prospectivity.

“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. The Company looks forward to starting its technical operations and to the active management of this new licence,” says Swala CEO Dr. David Mestres Ridge.

Delonex Energy Awarded Exploration License in Ethiopia

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British explorer with focus on Central and East Africa Delonex Energy Limited has been awarded an exploration license in Ethiopia covering Blocks 18, 19 and 21 in the Abred-Ferfer area.

The three year initial exploration license awarded late last month covers a total acreage of 29,865sq km with a provision for two extensions of two years each.

Delonex Energy which was formed in 2013 after a $600m investment from Warburd Pincus says it will be leveraging on its technical expertise, proven project execution skills and strong balance sheet to fast track the exploration and development of hydrocarbons..

“We thank the Government of Ethiopia for awarding us an exploration license in the Abred-Ferfer area. We have designed a comprehensive exploration programme leveraging best-in-class technology, to test the oil & gas potential in the region. We will work closely with the Ethiopian government and local communities, to ensure this work programme is implemented rapidly and in line with highest  standards of   Environmental, Social and Corporate Governance,” says Delonex CEO Rahul  Dhir.