OPERATING AND FINANCIAL REVIEW
Performance for the year
The results of the Company's operations for the year are set out on page 10.
During the year, Swala committed to entering Years 3 and 4 exploration phase of the Initial Exploration Term in both its Pangani and Kilosa – Kilombero PSAs licence areas. The work commitment in each licence during this period includes additional 2D seismic acquisition in the third contract year and drilling of one exploration well in the fourth contract year.