Awarding Nine Oil Exploration Blocks in Zambia

Source: www.gulfoilandgas.com 12/4/2013, Location: Africa

Swala Energy Limited (Swala) advises that the Minister of Mines, Energy and Water Development of the Republic of Zambia, Hon. Yamfwa Mukanga, has confirmed the award of nine oil exploration blocks in the Republic of Zambia.

Pursuant to the Company’s ASX announcement on 28th June 2013 the Company made a bid for three hydrocarbon exploration permits in the Republic of Zambia: Blocks 31, 42 and 44.

The Honourable Minister confirmed the following awards:

Troisad – Block 8
Bowleven – Block 25, 28, 29
Segocoa – Block 29, 43
Surestream – Block 42
Rift Petroleum – Block 40, 41

Dr. David Mestres Ridge (CEO) said, “The bidding process has been a long and competitive one, and our Zambia team has worked tirelessly to advance the Company’s interests. We are obviously disappointed not to have been awarded Block 42 in Zambia but look forward to a more positive outcome with the remaining bids for Blocks 31 and 44.

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