SL1 0.00% 1.9¢ symbol mining limited

Why I invested in Swala

  1. 67 Posts.
    I see a lot of back and forth going with key points not rammed home. This is why I took a position:

    1) East African Rift System (EARS) - Without doubt the hottest spot in the world for O&G exploration. 80% strike rate by Tullow and Africa Oil
    2) Swala has 4th largest land holding in EARS.
    3) In country business model allows Swala to pick up blocks for 'the people' rather than foreign companies. Watch this space Eyasi!
    4) 3 drill campaigns in 2015 post farm outs (Why the stock isn't moving until market gets clarity on deals).
    5) Even with a poor oil price, attraction is still in the EARS and hence I believe deals will get done.

    So even with tight cash, once farms out take place we should get a solid re-rate. Funding risk is gone and Swala can get back to doing what it does back. Picking up blocks, proving up value with seismic and if we hit on one block then then stock price is $1.50 plus.
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