PROGRESS ON TAIPAN'S BADADA WELL


On February 23, 2015 Taipan’s wholly-owned Kenya-based subsidiary, and Operator of Block-2B (Taipan 30%, Premier Oil 55% and Tower 15% working interests) announced that the Badada-1 well has been drilled to a total depth of 3,500 metres MDBRT (Measured Depth Below the Rotary Table) and following completion of logging operations will be plugged and abandoned as a dry hole.

Commented, Taipan CEO Maxwell Birley, “The spudding of the Badada-1 well is an important milestone for both Taipan and Lion Petroleum. We, along with our partners, Tower Resources and Premier Oil, are extremely excited about the opportunity that Badada presents as a potential play opener which could generate considerable upside from a follow-on exploration programme.”

Badada-1 Well Site Photos



World-class Oil & Gas Team & Assets


Taipan Resources is the fourth largest acreage holder onshore Kenya (6.8 million acres/27,712 square kilometers) with multiple exploration plays in multiple basins, and estimated total net mean prospective resources of 768 million barrels of oil equivalent. Management has a track record of repeated exploration success, having discovered over 3.75 billion barrels of oil equivalent in frontier regions.




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