SOLOMON Stockbrokers Limited
A Member of Dar es Salaam Stock Exchange
SOLOMON Stockbrokers Limited
A Member of Dar es Salaam Stock Exchange
SOLOMON Stockbrokers Limited
A Member of Dar es Salaam Stock Exchange
SOLOMON Stockbrokers Limited
A Member of Dar es Salaam Stock Exchange

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SWALA: SUCCESSFUL COMPLETION OF FARM-OUT OF KILOSA-KILOMBERO AND PANGANI LICENCE INTERESTS TO TPL

 

Swala Oil and Gas (Tanzania) Plc (“Swala” or “the Company”) is pleased to advise that it has finalised the outstanding terms of its farm-out agreement for the Kilosa-Kilombero and Pangani licences with Tata Petrodyne Limited (“TPL”). The parties shall now proceed to payment of the reimbursable past costs of US$5.7 million, due within five working days from Completion, and to the transfer of licence working interest to TPL.
Upon completion of the transaction, the equity in the licences shall be:
 

 Joint Venture Participants Pangani Licence 
Working Interest %
Kilosa-Kilombero Licence 
Working Interest %
Swala Oil and Gas (Tanzania) Plc (Operator) 25% 25%
Tata Petrodyne Limited 25% 25%
Otto Energy (Tanzania) Pty Ltd
(Subsidiary company of Otto Energy Ltd (ASX: OEL))
50% 50%

 

Dr. David Mestres Ridge, Swala CEO, said: "We are grateful to the authorities and regulators for their assistance and prompt handling of the approval process for our farm-in application, which allows TPL to join us on these two licences. Knowing that reimbursement of the past costs incurred by the Company is being made and having an international exploration company such as TPL as a participant in an exciting location in the East Africa Rift system allows us to now focus on preparations for the 2016 drilling campaign”.

For further information please contact:
Swala Energy Limited
David Mestres Ridge (CEO)
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.swala-energy.co.tz

Frontline Porter Novelli
Irene Kiwia
T. +255 787 611 213
This email address is being protected from spambots. You need JavaScript enabled to view it.

About Swala:
Swala 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 14,000km2. New discoveries have been announced by industry participants in a number of licences 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.
Joint Venture Participants
Pangani Licence
Working Interest %

CEO’s QUARTERLY NOTE (Q3, 2015)

The Dar es Salaam Stock Exchange PLC (DSE) recorded mixed performance during the quarter – total market capitalization and the DSE Index which tracks all listed shares declined by 7 percent, from TZS 23.9 trillion as of 30th June 2015 to TZS 22.2 trillion at the close of the quarter, on 30th September 2015. The domestic market capitalization and indices also recorded a decimal decrease of 1 percent. The domestic market capitalization decreased from TZS 9.9 trillion as of end of Q2, 2015 to TZS 9.8 trillion as of 30thSeptember 2015.

DSE listed companies’ valuations and trading activities were partly affected by the depreciation of shilling compared to US dollar – this had a negative impact on investors’ returns (as measured in US$). As a result, foreign investors’ activities on the buy-side remained the same as was in Q2 – at 86 percent of out total trading activities while sale-side activities declined significantly, from 41 percent in Q2, 2015 to a mere 8 percent this quarter.

Market liquidity (trading turnover) also recorded a decline from TZS 278 billion Q2, 2015 to TZS 222 billion during this quarter. However, on the annualized basis, our turnover, currently at TZS 785 billion, has the potential to reach 11 percent liquidity ratio – this liquidity level will potentially be almost 10 times compared with our previous history, as compared to our domestic market capitalization

We were also down by 2 percent on the domestic counters valuations. Our Weighted Average market Price Earnings Ratio for domestic listed companies was 16.93 times as of end of September 2015 compared to the trailing PE ratio of 17.31 times during last quarter. The Weighted average Price/book value remained the same at 4.6 times. Similarly, the trailing weighted average dividend yield remained at 3.1 percent as was in the previous quarter.
As for the bonds market segment – there was a significant decrease in turnover during the quarter: Bonds trading turnover was TZS 30 billion (on cost basis) versus TZS 75 billion in the previous quarter. On the listings side, there were two listings during the quarter: PTA Bank listed a Corporate Bond worth TZS 32.6 billion; CRDB Bank PLC also listed additional 435 million shares worth TZS 152 billion following the bank’s rights shares issuance during the quarter.

During Q4, 2015, we expect at least three listings: Mwalimu Commercial Bank, Mufindi Community Bank and YETU Microfinance.
During Q3, 2015, as was planned and communicated – we introduced the mobile trading platform in our Automated Trading and Central Securities Depository infrastructure. This initiative enables investors to buy and sale listed shares using their mobile phones. As at the end of quarter (a month following the launch) about 700 investors had already accessed our infrastructure using their mobile phones. We envisage the increase in number of mobile trading platform as more people get to know the existence and operability of this technology.

Our top priorities during the coming quarter include: encourage more listings, public education and awareness, integrating and synchronizing our Central Securities Depository (CSD) to that of Bank of Tanzania for government bonds trading. Our demutualization process is now at the advanced stage, we have selected Advisers in the Issue who will start and probably accomplish the assignment before end of Q4, 2015.

Swala Oil and Gas (Tanzania) Plc (“Swala” or “the Company”) is pleased to advise that it has finalised the outstanding terms of its farm-out agreement for the Kilosa-Kilombero and Pangani licences with Tata Petrodyne Limited (“TPL”). The parties shall now proceed to payment of the reimbursable past costs of US$5.7 million, due within five working days from Completion, and to the transfer of licence working interest to TPL.
Upon completion of the transaction, the equity in the licences shall be:
 

 Joint Venture Participants Pangani Licence 
Working Interest %
Kilosa-Kilombero Licence 
Working Interest %
Swala Oil and Gas (Tanzania) Plc (Operator) 25% 25%
Tata Petrodyne Limited 25% 25%
Otto Energy (Tanzania) Pty Ltd
(Subsidiary company of Otto Energy Ltd (ASX: OEL))
50% 50%

 

Dr. David Mestres Ridge, Swala CEO, said: "We are grateful to the authorities and regulators for their assistance and prompt handling of the approval process for our farm-in application, which allows TPL to join us on these two licences. Knowing that reimbursement of the past costs incurred by the Company is being made and having an international exploration company such as TPL as a participant in an exciting location in the East Africa Rift system allows us to now focus on preparations for the 2016 drilling campaign”.

For further information please contact:
Swala Energy Limited
David Mestres Ridge (CEO)
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.swala-energy.co.tz

Frontline Porter Novelli
Irene Kiwia
T. +255 787 611 213
This email address is being protected from spambots. You need JavaScript enabled to view it.

About Swala:
Swala 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 14,000km2. New discoveries have been announced by industry participants in a number of licences 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.
Joint Venture Participants
Pangani Licence
Working Interest %

Financial Review
Tanzania Breweries Limited Group of Companies has delivered a satisfactory set of results for the six months ended 30th September 2015 despite challenging market and economic conditions. Revenue growth of 6% over last year was driven by higher volumes, as well as positive product mix. Overall volumes were up for the half year compared to same period prior year. The favourable volume growth was due to selling price stability largely as a result of no increase in excise rates for alcohol as contained in this year’s Finance Act. Operating profit for the period ended 30th September 2015 was 7% ahead of the prior year. This was despite the significant depreciation of the Tanzania Shilling over the period which increased the cost of imported production materials. Production and distribution efficiencies assisted in leveraging growth. Total cash generated from operations amounted to Tsh 179 billion, of which Tsh 43 billion was utilised to pay corporate tax, while the remaining Tsh 136 billion funded interest and capital expenditure as well as paying dividends of Tsh 88 billion to Company shareholders. The growth in earnings was achieved largely through volume growth, improved efficiencies as well as focused cost management whilst operating in a challenging environment. I would like to thank the Board, management and employees for their efforts and continued support as well as our customers, consumers and all stakeholders for their loyalty.
 
Roberto Jarrin
Managing Director

For further detail please refer to the link below
http://dse.co.tz/sites/default/files/dsefiles/F16%20Financial%20Results.pdf

Report of Condition of the Bank Published 

Pursuant to Section 32(3) of the Banking and Financial Institutions Act, 2006

http://dse.co.tz/sites/default/files/dsefiles/Financials%20as%20at%2030t...

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