TPD terminated discussions with Swala’s 65.13%-owned subsidiary Swala Oil & Gas regarding the Eyasi licence.
Swala bid on the Eyasi licence on a 50-50 basis with joint bidding partner Pura Vida Energy, but the partner withdrew from the bidding process.
Swala said the agreement allowed either party to withdraw, at which point the other partner would assume the other company’s interest in the licence.
TPD
