Tanzania: Swala, Orca Acquisition Awaits Shareholders Meeting

SWALA Oil and Gas wants to intensify its presence in the country by buying 20 per cent stake in Orca's Exploration Group's PAE PanAfrican Energy Corp. The firm, bids to acquire the stake at 130million US dollars, however, is waiting a shareholding meeting.

According to Swala, the deal is expected to provide Swala part ownership of PAE's Tanzanian subsidiary, which holds exploration and production rights for natural gas in the Songo Songo block, in partnership with the Tanzania Petroleum Development Corp.

...

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.