May 26 (Reuters) - Otto Energy Ltd OEL.AX :
* Co and Swala Oil and Gas (Tanzania) have entered into settlement and other commercial arrangements
* Arrangements in respect of various claims and disputes concerning both pangani and kilosa-kilombero licences, onshore Tanzania.
* Under settlement of claims Swala shall pay to oet a net sum of US$800,000
* Swala and Otto have entered into a royalty agreement
* Under royalty agreement Swala has granted to Otto a gross overriding royalty equal to 2% of revenue derived from OET's former interest Source text for Eikon: ID:nASXb2cYYD Further company coverage: OEL.AX