Tanzania: Swala Acquires New Block, Seeks U.S.$120 Million

Dar es Salaam — Swala Oil and Gas Tanzania is seeking to raise $120 million (over Sh250 billion) to finance material transaction after recently acquiring an exploration block in Burundi.

The Dar es Salaam Stock Exchange-listed company announced last month that it acquired Surestream Petroleum (Burundi) Limited which had a 100 per cent working interest that covers portions of the northern end of Lake Tanganyika, in Burundi.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.