Swala identifies a prospect to be drilled
DRILL TARGET SELECTED IN BLOCK 12B, KENYA
Swala Energy Limited (“Swala” or “the Company”) is pleased to advise that the remaining parties on the Kenyan Block 12B licence, being Swala’s wholly owned subsidiary Swala Energy (Kenya) Limited and Tullow Kenya B.V. (“Tullow”) have identified a prospect to be drilled in the second half of 2015.
Following the successful 2D seismic campaign in Block 12B during the second quarter (2Q) 2014, ten structural leads have been identified by Swala and Tullow, also the joint venture Operator. Of these the Ahero “A” lead is considered as the first viable drilling candidate, as it has been covered by a number of seismic lines.
Tullow carry a mean recoverable gross oil volume of 44mmbbls for the Ahero “A” prospect. This is based on two Miocene reservoir targets with two to three reservoir layers. Most of the oil discoveries that have been found in the East African Rift System basins contain more than one
reservoir layer in sediments ranging from Miocene to Pliocene age.
Dr. David Mestres Ridge, Swala’s CEO said “We are very excited at the decision by the remaining parties to drill Ahero “A”, one of a number of prospects identified in Block 12B and which our technical teams are continuing to investigate. With our recently announced successful 2D seismic survey over the Moshi basin and the upcoming seismic survey in Kilombero, both in Tanzania, we are on track to develop a significant portfolio of leads and prospects to be tested in the coming year.”