PROGRESS ON TAIPAN'S BADADA WELL


On January 7, 2015, at 2:00pm GMT, Taipan Resources, through its Kenya-based subsidiary Lion Petroleum Inc., commenced drilling operations on the Badada -1 well in Block 2B, northeast Kenya. Taipan, as operator on Badada-1, is one of only a small number of companies to have drilled a well onshore Kenya.

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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