Entries by Tanzania Petroleum

Swala Energy repays loan, readies for Tanzania drill program in 2016

Swala Energy (ASX:SWE) has repaid an interim loan facility of US$1.1 million to 9.2% cornerstone shareholder Hayaat International that was struck in June 2015. No interest was payable by Swala under the loan facility. Abu Dhabi-based Hayaat International has been an investor in Swala since November 2013 with an initial A$3.3 million holding. Swala chief […]

Where do We Find Oil and Gas?

Unfortunately oil and gas do not exist is liquid pools underneath the earth’s surface. In fact, you could hold a rock containing oil in your hand and would not be able to see the oil. Also Read:How oil and gas are formed Important Properties of Rocks Rock Formation Showing Strata For rocks to contain oil […]

Tullow Comes Up Dry with Kenya Well

Africa-focused independent explorer Tullow Oil reported Tuesday that the Emesek-1 exploration well in the North Lokichar basin, northern Kenya, has failed to find commercial hydrocarbons. The Emesek-1 well, located on Block 13T, was drilled to a depth of 9,840 feet by the PR Marriott 46 rig. The well will now be plugged and abandoned. Following […]