Oil and Gas: East Africa's first public owned Oil and Gas Company: Swala Oil and Gas (Tanzania) Plc Announces Launch of Initial Public Offer Prospectus ("IPO")

Mr Ridge further stated, “We are extremely grateful to the Government of Tanzania, TPDC and the CMSA for allowing us to become East Africa’s first public owned Oil and Gas Company. On behalf of all Swala directors I would like to officially invite the public to invest in Swala Oil and Gas Plc”.

Hon. Abdullah Mwinyi, a Director at Swala Oil and Gas Tanzania Plc added, “There has been a great debate on the need for local content in this booming oil and gas industry; we are delighted that today  Swala would become the first oil and gas company to walk the talk. We strongly believe that Tanzanians should be given an opportunity to participate in the oil and gas business; this IPO opening allows them to do just that".

Application forms and copies of the prospectus will be available online at Nihisa.com, at the offices of all Licensed Dealing Members (LDM) of the Dar Es Salaam Stock Exchange (DSE), branches of CRDB Bank Plc and offices of Arch Financial & Investment Advisory Ltd. The offer is open from 09th June 2014 to 04th July 2014. There is currently no maximum subscription limit, but a minimum subscription of 100 shares per person is required. Electronic prospectus can be found on the company website http://www.swala-energy.co.tz or http://www.nihisa.com.

Distributed by APO (African Press Organization) on behalf of Swala Oil and Gas Tanzania Plc.

Media contact:

Irene Kiwia

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About Swala Oil and Gas Tanzania Plc

Swala (http://www.swala-energy.co.tz) is an affiliated company to Swala Energy Limited, a company in turn listed on the Australian Stock Exchange (ASX) with ticker “SWE”. Swala holds assets in the world-class East African Rift System with a total net land package in excess of 17,500km2. New discoveries have been announced by industry participants in a number of licenses along this trend, including Ngamia and Twigga, which extend the multi-billion barrel Albert Graben play so successfully developed by Tullow Oil into the eastern arm of the rift. Swala has an active operational and business development programme to continue to grow its presence in the hydrocarbon provinces of East Africa.

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