{"id":15694,"date":"2018-01-18T11:13:55","date_gmt":"2018-01-18T11:13:55","guid":{"rendered":"http:\/\/abdas.org\/?p=15694"},"modified":"2018-01-18T11:13:55","modified_gmt":"2018-01-18T11:13:55","slug":"tanzania-swala-oil-to-buy-stake-in-orcas-pae-in-130-million-deal","status":"publish","type":"post","link":"https:\/\/abdas.org\/2018\/01\/18\/tanzania-swala-oil-to-buy-stake-in-orcas-pae-in-130-million-deal\/","title":{"rendered":"Tanzania- Swala Oil to buy stake in Orca&#8217;s PAE in $130 Million Deal"},"content":{"rendered":"<p><img loading=\"lazy\" src=\"http:\/\/abdas.org\/wp-content\/uploads\/2018\/01\/Tanzania-Swala-Oil-to-buy-stake-in-Orcas-PAE-in-130-Million-Deal.jpg\" alt=\"Tanzania- Swala Oil to buy stake in Orca&#039;s PAE in $130 Million Deal\" title=\"Tanzania- Swala Oil to buy stake in Orca&#039;s PAE in $130 Million Deal\" width=\"300\" height=\"200\" class=\"alignleft size-full wp-image-15695\" \/>Tanzania-  40 percent stake in Orca Exploration Group&#8217;s PAE PanAfrican Energy Corp has been bought by Tanzania\u2019s Swala Oil and Gas for $130 million, Swala said.<\/p>\n<p>The deal will give Swala part ownership of PAE&#8217;s Tanzanian subsidiary, which holds production and exploration rights for natural gas in the Songo Songo block, in partnership with the Tanzania Petroleum Development Corp.<\/p>\n<p>Swala said the deal will include the issue of 16.3 million preferred shares, worth $16.3 million, to Orca, if shareholders approve. It will also take on PAE Tanzania&#8217;s debts worth another $24 million, Swala said.<\/p>\n<p>David Mestres, the CEO of Swala, said in a statement&#8221;It is the first deal of this magnitude between a foreign and a Tanzanian company,&#8221; <\/p>\n<p>Funding for the deal was arranged by Exotix Capital, a London-based specialist frontier markets investment bank.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tanzania- 40 percent stake in Orca Exploration Group&#8217;s PAE PanAfrican Energy Corp has been bought by Tanzania\u2019s Swala Oil and Gas for $130 million, Swala said. The deal will give &hellip; <\/p>\n","protected":false},"author":1,"featured_media":15695,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[9,30],"tags":[],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/posts\/15694"}],"collection":[{"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/comments?post=15694"}],"version-history":[{"count":0,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/posts\/15694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/media\/15695"}],"wp:attachment":[{"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/media?parent=15694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/categories?post=15694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abdas.org\/wp-json\/wp\/v2\/tags?post=15694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}