Swala Goes Public
Tanzania Affiliated to Australia-listed Swala Energy, Swala Oil had received the permission for the IPO one week earlier from the Tanzanian Capital Markets and Securities Authority. The move makes Swala the first exploration and production company on the Dar es Salaam Stock exchange.
Swala operates the Kilosa-Kilombero and Pangani licenses. On the 17,300-square-kilometre licences, the company has already identified five prospective basins.
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