Swala Energy commences seismic data acquisition program

THE ROADHOUSE BOWSER: Swala Energy (ASX: SWE) has kicked off its 2014 2D seismic data acquisition program over the Moshi Basin, located within the Pangani exploration licence in northern Tanzania.

 

Swala’s licences and the target basins for the 2014 seismic campaign. Source: Company announcement

 

Swala Oil and Gas (Tanzania) Plc, which is partly owned by Swala Energy, and its Joint Venture partner Otto Energy (ASX: OEL), will acquire approximately 200 kilometres of 2D seismic data over the basin in the next four weeks and that data will be processed as the survey progresses.

This seismic survey is a follow-up to an earlier program carried out in the basin in 2013, from which results indicated a sedimentary basin of about 3,000 metres in thickness.

Swala Energy explained once the survey in the Moshi basin is complete seismic operations will move to the Kilombero basin where a further 430km of 2D data will be acquired.

“The commencement of the 2014 seismic program underlines Swala’s commitment and capability to move ahead with its exploration program.” Swala Energy CEO Dr. David Mestres Ridge said in the company’s announcement to the Australian Securities Exchange.

“This work is intended to firm up potential drilling targets for a planned 2015 drilling campaign as required under the terms of the respective Production Sharing Agreements with TPDC.”

Website: www.swala-energy.com