Tata Petrodyne Limited (TPL), a subsidiary of the giant Indian gonglomerate Tata Group, has finalised the outstanding terms of its farmin agreement for the Kilosa-Kilombero and Pangani licences in Tanzania.
Following by the finalization TPL shall now proceed to payment of the reimbursable past costs of $5.7 million, to Swala Energy 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.
