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December 11, 2014 - Taipan Updates on Badada Well Progress and Continuation of Work

NAIROBI, KENYA--(TNW-ACCESSWIRE / December 11, 2014) -

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) ("Taipan", "the Company") is pleased to announce that the Company has executed a contract with Greatwall Drilling Company (“Great Wall”) to provide the GW-190 land rig. Earlier this year, Taipan also contracted Aberdeen-based Norwell Engineering to manage the drilling operations of the Badada-1 well.

In June of this year, Great Wall’s GW-190 land rig successfully completed the drilling of the Sala-1 discovery in Block-9 of the Anza Basin, Kenya, adjacent to Block-2B. Norwell Engineering assisted in the design and management of the Sala-1 drill campaign.

Further to the Company’s announcement on November 27 2014, Taipan, has advised that drilling is planned to commence within the next three to four weeks. The well is expected to take approximately 70 days to drill and gross well costs are estimated at US$20 to US$25 million.

The Company also wishes to provide an update with respect to the temporary injunction served on its Kenya-based subsidiary Lion Petroleum Inc. (“Lion”) on November 17, 2014, temporarily preventing work from continuing on the Badada-1 well onshore Kenya (Tower 15%, Premier Oil 55% and Taipan 30% working interests). Since the application was lodged in November, by the instructions of the Court contained in the temporary injunction, work on site was only delayed by 3 days.

Lawyers representing Taipan, Lion Petroleum, Premier Oil, the County Government of Wajir, the Ministry of Energy and Petroleum, the Attorney General and the National Land Commission appeared in Court on December 10, 2014 where they received confirmation of the variance to the November 17, 2014 injunction, allowing work to continue at the Badada-1 well-site. A further hearing, the purpose of which is that all parties file written arguments, is scheduled for March 16, 2015 after the projected completion of the well.

The Badada-1 well will test analogous geology to the Lokichar Basin where Tullow Oil and Africa Oil have made multiple oil discoveries and continue to unlock the potential of the Tertiary Rift sequence. The well is designed to test Tertiary age reservoirs at depths ranging from 1,500 and 3,500 metres.

Taipan estimates gross mean unrisked prospective resources of 251mmboe (Source: Sproule International Limited NI 51-101 (“Sproule”) February 2014) for Badada-1. In the event of success with the Badada-1 well, it is envisaged that Taipan and its partners will test the upside potential in Block-2B with multiple follow-on prospects and leads in a Tertiary sequence analogous to the Tertiary discoveries in Block 10BB and 13T of the Lokichar Basin.

As part of the Lion’s focus on local content, a number of Kenyan companies have been contracted to provide well-site services including logistics, road repairs and the drilling of water wells and other services. In addition, as part of Taipan’s programme of corporate social responsibility in the Anza Basin, the Company has embarked on a range of social initiatives including clean water projects and access to basic medical care for the local communities.

The Board and Management Team of Taipan remain committed to oil exploration in Kenya, and are also actively pursuing oil exploration and development opportunities in other parts of sub-Saharan Africa.

About Taipan Resources Inc. Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Contacts:
Taipan Resources Inc.
Joel Dumaresq- Chairman & CFO
+1 (604) 336.3195 (Office)
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 (604) 684.6730 or +1 (866) 684.6730
TPN@kincommunications.com
www.kincommunications.com

November 27, 2014 - Taipan Announces Temporary Injunction Order Lifted at Badada-1 Wellsite

NAIROBI, KENYA--(Marketwired - Nov. 27, 2014) -

Further to the announcement dated November 17, 2014, Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) ("Taipan", "the Company") reports that the Lawyers representing the Company's wholly-owned Kenya-based subsidiary, Lion Petroleum Inc. ("Lion"), have appeared in the High Court in Nairobi on November 21, 2014 seeking a variation to the conservatory orders issued with respect to drilling activities on Block-2B.

Taipan is pleased to announce that the Court agreed to vary its conservatory orders to allow the Operator to continue preparations for drilling at the Badada-1 wellsite.

Subsequently, on November 25, 2014, lawyers representing the Operator appeared in the High Court in Nairobi where the County Government of Wajir was permitted to join the petition as an interested party alongside Taipan, Lion and Premier Oil plc, the Ministry of Energy & Petroleum Kenya, the Attorney General's Office Kenya and the Department of Lands Kenya (the "parties").

At the request of lawyers acting on behalf of the parties, it was deemed by the High Court that the two outstanding petitions against the parties be consolidated and heard as one petition before the High Court on December 10, 2014.

The variation to the conservatory orders and consolidation of petitions signifies meaningful progress allowing the Operator to continue work at the Badada-1 well-site. Taipan and the Block-2B joint-venture partners remain confident that the remaining petitions will be over-ruled at the next Court hearing and will remain on schedule to spud the Badada-1 well in early January.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Contacts:
Taipan Resources Inc.
Theo van der Linde- Corporate Secretary
+1 (604) 336.3195 (Office)
+1 (902) 403.7258 (Canadian Cell)
corp.secretary@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 (604) 684.6730 or +1 (866) 684.6730
TPN@kincommunications.com
www.kincommunications.com

For Investor Relations (Europe) Contact:
Vigo Communications
+44 (0) 20 7016 9570
www.vigocomms.com

November 17, 2014 - Taipan Reports on Temporary Injunction Order -- NAIROBI, KENYA -- (Marketwired

Taipan Resources Inc. (“Taipan”, “the Company”) announces that the Company’s wholly-owned Kenya-based subsidiary, Lion Petroleum Inc. (“Lion”), has received today formal notice from the High Court of Kenya of a temporary injunction preventing the Company from working on the Badada-1 well site in Block 2B, north east Kenya.

Adjoined to Lion in the lawsuit as co-respondents are the Kenyan Cabinet Secretary, Ministry of Petroleum, the Honorable Attorney General of Kenya, the Chairperson of the National Land Corporation and Premier Oil plc.

Based on legal advice received the Block 2B partners are confident that the injunction will be revoked such that the Company can progress to its projected spud of the Badada-1 well in early January 2015.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa- focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward- looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward- looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Contacts:
Taipan Resources Inc.
Theo van der Linde- Corporate Secretary
+1 (604) 336.3195 (Office)
+1 (902) 403.7258 (Canadian Cell)
+1 (702) 425.0240 (US Cell)
corp.secretary@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 (604) 684.6730 or +1 (866) 684.6730
TPN@kincommunications.com
www.kincommunications.com

For Investor Relations (Europe) Contact: Vigo Communications
+44 (0) 20 7016 9570
www.vigocomms.com

October 24, 2014 - Taipan Resources Inc. Announce Full DTC Eligibility

Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) (OTCQX:TAIPF) announces the company has secured DTC Eligibility by The Depository Trust Company for its shares on the OTCQX effective October 24, 2014.

The Depository Trust Company (DTC) is a subsidiary of the Depository Trust & Clearing Corporation DTCC, and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors. Securities that are not DTC-eligible are often not accepted for trading at many brokerages due to the amount of paperwork and manpower required to execute and settle trades, thus making it more difficult for a significant percentage of investors to access the shares.

Joel Dumaresq, Chairman & CFO of Taipan stated, "Electronic trading is the standard in today's financial markets, and becoming DTC-eligible greatly simplifies the process of trading and exchanging our common stock in the USA, thereby increasing the liquidity of our shares and enhancing shareholder value”

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent African oil and gas exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres gross / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd., a subsidiary of Afren plc.

CONTACT INFORMATION
Joel Dumaresq
Director
Tel: +1 (604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

For Investor Relations (Europe) Contact:
Vigo Communications
+44 (0) 20 7016 9570
www.vigocomms.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

October 20, 2014 - Taipan Announces Increase in Prospective Resources on Block 1 Kenya

Taipan Announces Increase in Prospective Resources on Block 1 Kenya

NAIROBI, KENYA -- (Marketwired -- 10/20/14) Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) (OTCQX: TAIPF) is pleased to announce that an independent assessment of the Company's prospective resources on Block 1, northern Kenya has been completed by RPS Energy in the United Kingdom ("RPS"). The independent assessment was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The effective date of the report is October 15, 2014.

The total gross aggregate mean prospective resources on Block 1 in the report are estimated at 1,303 MMbbls 1 oil (260 MMbbls Taipan working interest).

The largest identified feature is the El Wak lead with gross mean prospective resources of 728 MMbbls 1 (146 MMbbls Taipan working interest). The high estimate of prospective resources for El Wak is 1,911 MMbbls 1 (382 MMbbls net to Taipan).

The El Wak lead is a four-way dip closed structure at surface overlying 1200 sq km of gravity high. A 290 km 2D seismic shoot, estimated to cost around $2m net to Taipan, is planned over the prospect before the end of the year.

Taipan holds a 20% working interest in Block 1 (5.497 million acres / 22,246 sq km) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren Plc.

Afren has a two well commitment in the current exploration period in Block 1.

Commented Paul Logan, Exploration Manager for Taipan “Due to the size of the structure and the presence of hydrocarbons in the area, indicated by an oil seep to the west at Tarbaj Hill, El Wak should prove to be an intriguing and attractive target to drill”.

1. Geological Probability of Success (“GPoS”) of Aggregated Volume for any Hydrocarbon type = 27%

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 sq km) and a 20% working interest in Block 1 (5.497 million acres / 22,246 sq km) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

The independent assessment was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The effective date of the report is July 31, 2014.

This document must be considered in its entirety. It reflects RPS's informed professional judgment based on accepted standards of professional investigation and, as applicable, the data and information provided by the Client and/or obtained from other sources e.g. public domain, the limited scope of engagement, and the time permitted to conduct the evaluation.

In line with those accepted standards, this document does not in any way constitute or make a guarantee or prediction of results, and no warranty is implied or expressed that actual outcome will conform to the outcomes presented herein. RPS has not independently verified any information provided by or at the direction of the Client and/or obtained from other sources e.g. public domain, and has accepted the accuracy and completeness of these data. RPS has no reason to believe that any material facts have been withheld from it, but does not warrant that its inquiries have revealed all of the matters that a more extensive examination might otherwise disclose.

The opinions expressed herein are subject to and fully qualified by the generally accepted uncertainties associated with the interpretation of geoscience and engineering data and do not reflect the totality of circumstances, scenarios and information that could potentially affect decisions made by the report's recipients and/or actual results. The opinions and statements contained in this report are made in good faith and in the belief that such opinions and statements are representative of prevailing physical and economic circumstances.

There are numerous uncertainties inherent in estimating reserves and resources, and in projecting future production, development expenditures, operating expenses and cash flows. Oil and gas reserve engineering and resource assessment must be recognized as a subjective process of estimating subsurface accumulations of oil and gas that cannot be measured in an exact way. Estimates of oil and gas reserves or resources prepared by other parties may differ, perhaps materially, from those contained within this report. The accuracy of any reserve estimate is a function of the quality of the available data and of engineering and geological interpretation. Results of drilling, testing and production that post-date the preparation of the estimates may justify revisions, some or all of which may be material. Accordingly, reserve estimates are often different from the quantities of oil and gas that are ultimately recovered, and the timing and cost of those volumes that are recovered may vary from that assumed.

This assessment has been conducted within the context of RPS's understanding of the effects of petroleum legislation and other regulations that currently apply to these properties. However, RPS is not in a position to attest to property title or rights, conditions of these rights including environmental and abandonment obligations, and any necessary licenses and consents including planning permission, financial interest relationships or encumbrances thereon for any part of the appraised properties.

In carrying out this study, RPS is not aware that any conflict of interest has existed. As an independent consultancy, RPS is providing impartial technical, commercial and strategic advice within the energy sector. RPS's remuneration was not in any way contingent on the contents of this report. In the preparation of this document, RPS has maintained, and continues to maintain, a strict independent consultant-client relationship with the Client. Furthermore, the management and employees of RPS have no interest in any of the assets evaluated or related with the analysis carried out as part of this report.

Staff members who prepared this report are professionally qualified with appropriate educational qualifications and levels of experience and expertise to perform the work.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

CONTACT INFORMATION
Joel Dumaresq
Director
Tel: +1 (604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

For Investor Relations (Europe) Contact:
Vigo Communications
+44 (0) 20 7016 9570
www.vigocomms.com

October 9, 2014 - Taipan Resources Inc. ANNOUNCES STOCK OPTION GRANT, ISSUANCE OF SHARES AND APPOINTMENT OF OFFICER

TAIPAN RESOURCES INC. ANNOUNCES STOCK OPTION GRANT, ISSUANCE OF SHARES AND APPOINTMENT OF OFFICER

Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) announces that it has granted an aggregate of 2,150,000 incentive stock options, including 1,500,000 stock options to be issued to directors and officers of the Company. The stock options are exercisable into common shares of the Company for a period of five years at a price of $0.36 per share. These options have been granted pursuant to the Company’s Stock Option Plan and are subject to vesting requirements. In addition, the Company has issued an aggregate of 448,698 common shares to Maxwell Birley, the Company’s Chief Executive Officer, in accordance with the terms of his consulting agreement.

The Company also announces that Ms. Christine Thompson has resigned as the Corporate Secretary of the Company and Mr. Theo van der Linde, CA has been appointed in her place.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp. 


Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

CONTACT INFORMATION
Joel Dumaresq
Director
Tel: +1 (604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

For Investor Relations (Europe) Contact:
Vigo Communications
+44 (0) 20 7016 9570
www.vigocomms.com

October 8, 2014 - Taipan Resources Secures Greatwall Drill Rig

NAIROBI, KENYA--(Marketwired – October 8, 2014) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN)(OTCQX:TAIPF) Taipan Resources Secures Greatwall Drill Rig For The 251mmbbll Badada Well Onshore Kenya; Well Expected to Spud Year-End 2014

Taipan Resources Inc. is pleased to announce that its wholly owned, Kenya based subsidiary Lion Petroleum Inc. has entered into a letter of intent with Greatwall Drilling Company of China to contract the GW-190 rig for its planned Badada well on Block 2B in north east Kenya. Taipan is fully carried by partners Premier Oil and Tower Resourcs Plc on the Badada well.

Ground has been broken on the Badada well site on Block 2B in the Anza Basin, where a water well is presently being drilled and site preparation underway in advance of the delivery of the rig. Taipan has also contracted or is in the process of contracting with a number of local Kenyan companies from the surrounding area for a range of services including site construction, road repair and the provision of food and other supplies.

It is anticipated the well will be spud between mid-December 2014 and mid-January 2015, and will take approximately 70 days to complete.

The Badada well is targeting 251mmbbl of oil in the Tertiary rift play where evidence suggests there is an oil-prone lower Tertiary source (Hothori-1 well, drilled in Taipan's acreage, in 1989). Taipan believes there is significant potential for an oil-prone Tertiary play in Block 2B and believes there are similar structural elements on this block when compared to the initial discoveries in the Lokichar basin of Kenya.

The Badada Prospect has been independently estimated by Sproule International Limited ("Sproule") to have Mean Gross Unrisked Prospective Resources of 251 MMBOE and High (P10) Estimate Gross Unrisked Prospective Resources of 498 MMBOE. The total estimated Mean Gross Unrisked Prospective Resources on Block 2B is 1,593 MMBOE based on 19 exploration leads(1). 


The Anza Basin is one of the largest Tertiary-age rift-basins in the East African Rift system that together contain multi-billion barrel oil discoveries. Mr. Maxwell Birley, CEO of Taipan commented “We continue to believe that the ‘sweet spot’ of the Anza Basin is located on Block 2B. This is an exciting time for the Taipan team and for our shareholders as we prepare to spud this well later this year.”

The Company will provide a further update upon the formal contracting of the GW-190 rig and mobilisation to the Badada-1 drill site and other operational progress in due course.

(1.)Sproule International Limited ("Sproule") completed an updated independent assessment of the Company's prospective resources on Block 2B with an effective date of December 31, 2013. The independent assessment was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. 



About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp. 


Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

CONTACT INFORMATION
Joel Dumaresq
Director
Tel: +1 (604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

For Investor Relations (Europe) Contact:
Vigo Communications
+44 (0) 20 7016 9570
www.vigocomms.com

NAIROBI, KENYA--(Marketwired - June 25, 2014) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN)(OTCQX:TAIPF), Comments On Africa Oil Corp's ("Africa Oil") Announcement of a Discovery in Sala-1 well.

On June 24, 2014, Africa Oil announced a gas discovery in the Sala-1 Well on Block 9, Kenya in which operator Africa Oil shares a 50% interest with its partner Marathon Oil.

The Sala-1 well is located approximately 60 kilometres from Taipan's Badada prospect, on Block 2B (Taipan: 30% working interest), which is expected to spud in late 2014 or early 2015. In its press release, Africa Oil reported that Sala-1 was drilled to a depth of 3,030 metres and encountered an upper gas-bearing interval where they tested dry gas at a maximum rate of six million cubic feet per day from a 25-metre net pay interval.

Paul Logan, Exploration Manager at Taipan, commented: "The announcement of a gas discovery with associated oil shows in Sala-1 has significantly de-risked the prospectively of the Anza Basin. Sala-1 is believed to have tested a Cretaceous rollover structure against the Lagh Bogal Fault in a similar position to the Badada prospect, but at a much deeper stratigraphic level. Badada-1 will test an as yet, undrilled thick Tertiary sequence of probable Miocene age, similar to that present in the Kingfisher Field in the Albert Basin of Uganda and the Tertiary discoveries of the Lokichar basin in Kenya. The anticipated 3,000 metres of Tertiary section is expected to contain both source and reservoir intervals. The presence of oil shows in Sala-1 suggests that an oil source could also be present in the Cretaceous section at Badada-1."

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

CONTACT INFORMATION
Joel Dumaresq
Director
Tel: (604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

For Investor Relations (Europe) Contact:
Vigo Communications
+44 (0) 20 7016 9570
www.vigocomms.com

June 25, 2014 - Taipan Resources Inc. Comments on Sala-1 Discovery

NAIROBI, KENYA--(Marketwired - June 25, 2014) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN)(OTCQX:TAIPF), Comments On Africa Oil Corp's ("Africa Oil") Announcement of a Discovery in Sala-1 well.

On June 24, 2014, Africa Oil announced a gas discovery in the Sala-1 Well on Block 9, Kenya in which operator Africa Oil shares a 50% interest with its partner Marathon Oil.

The Sala-1 well is located approximately 60 kilometres from Taipan's Badada prospect, on Block 2B (Taipan: 30% working interest), which is expected to spud in late 2014 or early 2015. In its press release, Africa Oil reported that Sala-1 was drilled to a depth of 3,030 metres and encountered an upper gas-bearing interval where they tested dry gas at a maximum rate of six million cubic feet per day from a 25-metre net pay interval.

Paul Logan, Exploration Manager at Taipan, commented: "The announcement of a gas discovery with associated oil shows in Sala-1 has significantly de-risked the prospectively of the Anza Basin. Sala-1 is believed to have tested a Cretaceous rollover structure against the Lagh Bogal Fault in a similar position to the Badada prospect, but at a much deeper stratigraphic level. Badada-1 will test an as yet, undrilled thick Tertiary sequence of probable Miocene age, similar to that present in the Kingfisher Field in the Albert Basin of Uganda and the Tertiary discoveries of the Lokichar basin in Kenya. The anticipated 3,000 metres of Tertiary section is expected to contain both source and reservoir intervals. The presence of oil shows in Sala-1 suggests that an oil source could also be present in the Cretaceous section at Badada-1."

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

CONTACT INFORMATION
Joel Dumaresq
Director
Tel: (604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

For Investor Relations (Europe) Contact:
Vigo Communications
+44 (0) 20 7016 9570
www.vigocomms.com

June 03, 2014 - Taipan Resources Inc. Completes Farm-out With Tower Resources for Block 2B Onshore Kenya

Taipan Resources Inc. Completes Farm-out With Tower Resources for Block 2B Onshore Kenya

NAIROBI, KENYA--(Marketwired - June 3, 2014) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN), through its wholly-owned Kenya-based subsidiary Lion Petroleum Corp. ("Lion"), has completed the previously announced farm-out agreement with Tower Resources (Kenya) Limited ("Tower"), a subsidiary of AIM-listed Tower Resources Inc. (TRP.L, TRP LN), whereby Tower has acquired a 15% participating interest in Block 2B onshore Kenya.

Completion, which occurred on Monday 2 June 2014, was conditional upon consent from Premier Oil (PMO.L, PMO LN), which holds 55% of the licence, as well as the receipt of US$4.5 million cash and the admission on the AIM market of the first tranche of 4.5 million Ordinary Shares in Tower.

In total consideration for the farm-out, Lion Petroleum Corp. received US$4.5 million cash and a total of 9.0 million Ordinary Shares in Tower, the second tranche of which, consisting of 4.5 million shares, will be received in three months' time. There is also a contingent payment of US$1 million cash on the spudding of a second well in Block 2B.

Taipan retains a 30% interest and operatorship during the exploration phase in Block 2B.

In February 2014, the Company announced an NI 51-101 compliant independent assessment of Block 2B, completed by Sproule International Limited, which estimated that Block 2B, located in the Anza Basin, holds gross mean unrisked prospective resources of 1,593mmboe, based on 19 exploration leads.

The Badada-1 well is expected to spud at the end of 2014/early 2015 and will target gross mean unrisked prospective resources of 251mmboe (Sproule International Limited February 2014).

Max Birley, CEO of Taipan, commented: "We are delighted to welcome Tower as a partner on Block 2B in Kenya which we believe is highly prospective. We look forward to progressing the work programme on the licence with Tower and Premier, having established a high quality and fully aligned partnership. This is an exciting time for the company - the completion of the transaction now means we are funded to drill wells on both blocks."

Graeme Thomson, CEO of Tower stated: "We are extremely pleased to conclude this exciting farm-in to Kenya at a time when it is opening up as an oil province. The farm-in fits perfectly with our strategy of securing material positions in very high upside exploration assets coupled with near-term drilling. This licence is right at the forefront of new plays, and we look forward to drilling in the coming months."

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

After the farmout, Taipan will hold a 30% working interest in Block 2B (1.35 million acres / 5,464 km2). The Company's 20% working interest in Block 1 (5.497 million acres / 22,246 km2) is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

About Tower Resources plc

Tower Resources plc (LSE:TRP) is an AIM-listed, London-based independent oil and gas exploration company with a regional focus on sub-Saharan Africa.

The Company holds a 30% working interest in a licence comprising three Blocks offshore Namibia and a 50% interest in three contiquous licences, onshore and offshore, in the Sahawari Democratic Republic. The Company announced on April 23, 2014 that its partner Repsol Exploration Limited had successfully spudded their Welwitschia-1 well offshore Namibia. On April 9, 2014, the Company announced the acquisition of Rift Petroleum Holdings Limited, a company with extensive interests offshore South Africa and onshore Zambia.

About Premier Oil plc

Premier Oil plc (LSE:PMO) is a leading FTSE 250 independent exploration and production company with interests in the North Sea, South East Asia, the Middle East, Africa, Pakistan, Brazil, and the Falkland Islands. Its portfolio of producing assets delivered production of 58,600 boepd in the first half of this year, and it has various projects in the development phase which should increase production to over 100,000 boepd in the medium-term. Premier became active in Kenya in 2011.

---Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

CONTACT INFORMATION
Joel Dumaresq
Director
Tel: (604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

For Investor Relations (Europe) Contact:
Vigo Communications
+44 (0) 20 7016 9570
www.vigocomms.com

May 23, 2014 - Taipan Resources Inc. Begins Trading on OTCQX®

Taipan Resources Inc. Begins Trading on OTCQX®

VANCOUVER - Taipan Resources Inc. (TSX-V: TPN) is pleased to announce that its common shares will commence trading on the OTCQX marketplace in the U.S., effective May 23, 2014 under the ticker TAIPF. Trading on OTCQX is designed to provide current and future U.S. based shareholders with greater access to and ease of trading in the Company's shares. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for Taipan Resources Inc. on www.otcmarkets.com.

U.S. based broker-dealer and investment banking firm Merriman Capital, Inc. ("Merriman") serves as Taipan's Principal American Liaison ("PAL") on OTCQX, and is responsible for providing professional guidance on OTCQX requirements.

"Our listing on the OTCQX is a natural step in the growth of Taipan," commented Maxwell Birley, CEO of Taipan Resources Inc. "Taipan is at an exciting stage in its development and rapid growth phase, and with the assistance of Merriman Capital Inc. we look forward to elevating the awareness of the Company to a broader U.S. shareholder base. With this new access, we are excited to start increasing our market visibility and sharing our vision with a larger audience of investors. We believe that Merriman will broaden the Company's access to both current and prospective U.S. shareholders and will provide for more efficient access and liquidity to our stock in the United States.

Financial disclosure and other information about the Company are also available at www.taipanresources.com.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 45% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

FOR FURTHER INFORMATION PLEASE CONTACT:
Joel Dumaresq
Director
Tel: (604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and include, but are not limited to, statements with respect to estimates of resources, future drilling and other exploration activities, and ultimate recovery of resources. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law. Statements concerning resource estimates constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the resources can be economically exploited.

May 21, 2014 - Taipan Resources Inc. Cures Default in Block 1 Kenya

Taipan Resources Inc. Cures Default in Block 1 Kenya

VANCOUVER - Taipan Resources Inc. (TSX-V: TPN) announces today it has resolved the default position on Exploration Block 1, Kenya by paying to Afren Plc $3,566,377. By resolving the default, Taipan has restored its rights and entitlements to a 20% interest in Block 1.

As a result of the recently-completed private placement financing, Taipan is fully-funded for its participating interest in a first well to be drilled on Block 1.

Mr. Paul Logan, Exploration Manager for Taipan commented, "We are extremely pleased to have sorted our issues on Block 1. As we are once again receiving technical data on the Block, it's extremely exciting to see the size and potential of the new drill targets that have been identified by Afren."

Taipan has begun commissioning an independent NI 51-101 report on Block 1. The report should be available for release within 60-90 days.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 45% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

FOR FURTHER INFORMATION PLEASE CONTACT:
Joel Dumaresq
Director
Tel: (604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and include, but are not limited to, statements with respect to estimates of resources, future drilling and other exploration activities, and ultimate recovery of resources. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law. Statements concerning resource estimates constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the resources can be economically exploited.

April 14, 2014 - TAIPAN RESOURCES INC. ANNOUNCES BOARD APPOINTMENT OF MR. STEPHEN LOWDEN

Taipan Resources Inc. Announces Board Appointment of Mr. Stephen Lowden

VANCOUVER - Taipan Resources Inc. (TSX-V: TPN) is pleased to announce the appointment of Mr. Stephen Lowden to the Board of Taipan Resources Inc as a Non-executive Director.

Steve Lowden has 28 years of wide ranging experience in international oil and gas exploration, development, production and gas liquefaction with a track record in defining strategy and creating and acquiring new businesses.

After graduating with a BSc. in Pure Mathematics and a Masters in Petroleum Engineering, Steve worked as a Petroleum and Operations engineer in the North Sea, Middle East, South East Asia and North Africa and then joined Premier Oil in 1987. Steve held a number of leadership roles at Premier in Business Development, Exploration and Production. In 1996 Steve was appointed to the Premier Oil Board of Directors as Executive responsible for Exploration and Production. Steve was also instrumental in developing a number of world scale gas projects whilst at Premier.

In 2000 Steve joined Marathon Oil Company as President of Marathon International, Head of Corporate Business Development and an Officer of the Company. From 2000 to 2005 he led the new growth strategy based on international expansion adding 1billion bbls of reserves and 100,000bopd of new production. In 2002 Steve’s responsibilities were expanded to include Marathon’s Global Integrated Gas (IG) business which included a new LNG production business.

Steve is currently founder, CEO and Chairman of NewAge which was launched in mid 2008 and has since helped NewAge to acquire 24 oil and gas concessions in seven countries, discover over 450mmboe of proven and probable reserves and build a portfolio of prospective reserves of over 2billion boe. NewAge will see its first production in 2015 and will be bringing four new fields on stream over the next 3 years.

Maxwell Birley, Taipan CEO commented: “Having worked alongside Steve at Premier and later at Marathon, I personally can attest to his vision and dynamic energy in building oil and gas exploration companies. Steve brings to Taipan’s Board a wealth of knowledge surrounding sub-Sahara African assets and opportunities. Now that we have secured and fully-financed well commitments on each of our two Kenyan exploration blocks, we plan to draw on Steve’s extensive knowledge and experience as we aggressively pursue additional assets and acreage.”

The Company further announces that it has granted incentive stock options to a director, new management hires, and a consultant to the Company to purchase up to 1,250,000 common shares in the capital stock of the Company. The options are exercisable for a period of 5 years, at a price of $0.36 per share.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE: TPN) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and upon closing the recently-announced farm down to Tower Resources plc will hold a 30% working interest in Block 2B (1.35 million acres / 5,464km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

FOR FURTHER INFORMATION PLEASE CONTACT:
Joel Dumaresq
CFO
Tel: (604) 306 4000
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

For media enquiries contact:
Ben Simons
Patrick d’Ancona
Vigo Communications
0044 207 016 9570

April 09, 2014 - Taipan Resources Inc. Farms Out 15% of Block 2B Kenya to Tower Resources

Taipan Resources Inc. Farms Out 15% of Block 2B Kenya to Tower Resources

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 9, 2014) - Taipan Resources Inc. ("Taipan") (TSX VENTURE:TPN), through its wholly owned Kenya-based subsidiary Lion Petroleum Corp., has signed a binding farm-out agreement with Tower Resources (Kenya) Limited, a subsidiary of AIM-listed Tower Resources plc (LN:TRP) ("Tower"), whereby Tower will acquire a 15-per-cent participating interest in Block 2B onshore Kenya. Taipan will retain a 30-per-cent operated interest in Block 2B.

The principal terms of the farm-out agreement are as follows:

  • Tower will pay to Taipan US$4.5-million in cash at completion;
  • Tower will issue to Taipan 9-million shares in Tower Resources Plc in two tranches (the "Farm-In-Shares), 50% at completion and 50% three months following completion;
  • Tower will make a US$1.0-million payment to Taipan conditional upon the spud of a second well in Block 2B;
  • Completion is conditional solely on approval from Premier Oil Investments Limited;
  • Tower will, on and from the effective date of transfer, pay its participating interest share of costs incurred in conducting joint operations as per the provision of the joint operating agreement, the initial phase of which, are estimated to cost gross US$29.5 million;
  • Tower will provide guarantees for its share of the minimum work and expenditure obligations required under the PSC for Block 2B;


Taipan, is presently preparing to drill the Badada Prospect on Block 2B in Kenya. The Badada prospect has been independently estimated by Sproule International Limited ("Sproule") to have Mean Gross Unrisked Prospective Resources of 251 MMBOE and High (P10) Estimate Gross Unrisked Prospective Resources of 498 MMBOE. The total estimated Mean Gross Unrisked Prospective Resources on Block 2B is 1,593 MMBOE based on 19 exploration leads1.

Taipan, through its subsidiary Lion Petroleum will retain operatorship of Block 2B during the exploration phase.

Maxwell Birley, Chief Executive Officer, commented: "We have further de-risked our prospect in Block 2B with this farm out to Tower. The farm out to Tower is being completed at a favorable premium to the farm down to Premier announced in December of last year, and is reflective of the increased sentiment towards the value of our acreage in Block 2B. Between this farm down and the recent private placement, Taipan is now fully-funded and exposed to the drilling of a well on each of Block 1 and Block 2B in 2014. We have now set our sights not only on the drilling of these two exciting targets, but also on other sub-Saharan assets which will allow us to expand our portfolio of exploration assets in 2015 and beyond".

1. Sproule completed an updated independent assessment of the Company's prospective resources on Block 2B with an effective dated of December 31, 2013. The independent assessment was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities.

About Tower Resources plc

Tower Resources plc (LSE:TRP) is an AIM-listed, London-based independent oil and gas exploration company with a regional focus on sub-Saharan Africa.

The Company holds a 30% working interest in a license comprising three Blocks offshore Namibia and a 50% interest in three contiquous licenses, onshore and offshore, in the Sahawari Democratic Republic. The company plans to spud their Welwitschia-1 well offshore Namibia with partners Repsol in late April 2014.

On April 9, 2014, the Company announced the proposed acquisition of Rift Petroleum Holdings Limited, a company with interests offshore South Africa and onshore Zambia.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

After the farmout, Taipan will hold a 30% working interest in Block 2B (1.35 million acres / 5,464 km2). The Company's 20% working interest in Block 1 (5.497 million acres / 22,246 km2) is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Prospective Resources are those quantities of petroleum that are estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective Resources have both an associated chance of discovery and a chance of development. Prospective Resources are further subdivided in accordance with the level of certainty associated with recoverable estimates assuming their discovery and development and may be sub-classified based on project maturity.

There is no certainty that any portion of the Prospective Resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and include, but are not limited to, statements with respect to estimates of resources, future drilling and other exploration activities, and ultimate recovery of resources. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law. Statements concerning resource estimates constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the resources can be economically exploited.

FOR FURTHER INFORMATION PLEASE CONTACT:
Maxwell Birley
CEO
mbirley@taipanresources.com
www.taipanresources.com

Joel Dumaresq
CFO
Tel: (604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

April 08, 2014 - Taipan Resources Inc. Announces Closing of Second and Final Tranche of Private Placement

Taipan Resources Inc. Announces Closing of Second and Final Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 8, 2014) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement (the "Private Placement"). Approximately $480,000 in gross proceeds was raised through the issuance of approximately 1,336,110 units ("Units") at a price of $0.36 per Unit for this second tranche. Each Unit consists of one common share of the Company and one transferable share purchase warrant, with each warrant entitling the holder to purchase an additional common share of the Company for a period of four years at an exercise price of $0.50. This first tranche of the Private Placement closed on April 4, 2014 and raised gross proceeds of $6,000,000.

All securities issued pursuant to the private placement are subject to a statutory hold period of four months and one day. The Company intends to use the proceeds from the private placement for exploration expenditures and for general working capital purposes.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent African oil and gas exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 45% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres gross / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd., a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan's expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

FOR FURTHER INFORMATION PLEASE CONTACT:
Joel Dumaresq
Director
Tel: (604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

April 07, 2014 - Taipan Resources Inc. Announces Closing of $6,000,000 Private Placement

Taipan Resources Inc. Announces Closing of $6,000,000 Private Placement

Vancouver, BC - Taipan Resources Inc. (TSX-V: TPN) ("Taipan" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") and has raised gross proceeds of $6,000,000 through the issuance of 16,666,667 units ("Units") at a price of $0.36 per Unit. Each Unit consists of one common share of the Company and one transferable share purchase warrant, with each warrant entitling the holder to purchase an additional common share of the Company for a period of four years at an exercise price of $0.50. The Company anticipates issuing up to an additional 1,111,111 Units, for additional gross proceeds of $400,000, in the coming week.

In connection with the Private Placement, the Company paid cash finders' fees and issued finders' warrants (the "Finders' Warrants") to certain finders. Each Finders' Warrant entitles the holder to purchase an additional common share of the Company for a period of four years at an exercise price of $0.50. All securities issued pursuant to the private placement are subject to a statutory hold period of four months and one day. The Company intends to use the proceeds from the private placement for exploration expenditures and for general working capital purposes.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent African oil and gas exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 45% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres gross / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd., a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan's expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

FOR FURTHER INFORMATION PLEASE CONTACT:
Joel Dumaresq
Director
Tel: (604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

March 21, 2014 - Taipan Resources Inc. Announces $6,000,000 Private Placement

Taipan Resources Inc. Announces $6,000,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 21, 2014) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) is pleased to announce that the Company is proceeding with a non-brokered private placement to raise up to $6,000,000 through the issuance of up to 16,666,667 units ("Units") at a price of $0.36 per Unit. Each Unit will consist of one common share of the Company and one transferable share purchase warrant, with each warrant entitling the holder to purchase an additional common share of the Company for a period of four years at an exercise price of $0.50. All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day.

The Company may pay a finder's fee on all or a portion of the private placement. The Company intends to use the proceeds from the private placement for exploration expenditures and for general working capital purposes. Completion of the private placement is subject to the approval of the TSX Venture Exchange.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent African oil and gas exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp..

Taipan operates and holds a 45% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres gross / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd., a subsidiary of Afren plc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements relating to the timing and completion of the private placement and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the completion of the private placement are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan's expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

FOR FURTHER INFORMATION PLEASE CONTACT:
Joel Dumaresq
Director
Tel: (604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

March 6, 2014 - Taipan Resources Inc. Announces New Seismic Data Confirms Robust Closure at the 251 Million Barrel

Taipan Resources Inc. Announces New Seismic Data Confirms Robust Closure at the 251 Million Barrel Badada Prospect

NAIROBI, KENYA, Mar 6, 2014 (Menafn - Marketwired via COMTEX) --Taipan Resources Inc. ("Taipan" or the "Company") is pleased to announce that BGP has completed an additional 196.2 km 2D seismic survey on Block 2B onshore Kenya. The new 2D seismic data acquired confirms robust closure at the Badada Prospect (formerly Pearl Prospect).

Taipan's 2D seismic data base over Block 2B now totals almost 2,500 line km. This includes the 440 km survey acquired in early 2013 and c. 1,850 km vintage data. The company also acquired 12,175 line kms FTG ("Full Tensor Gravity Gradiomety") data in 2013.

Processing of the 196.2 km of seismic data is now underway and is expected to be completed by mid-March. The data will be used to finalize the drilling location for Badada Prospect that is planned to be drilled later this year.

The Badada Prospect has been independently estimated by Sproule International Limited ("Sproule") to have Mean Gross Unrisked Prospective Resources of 251 MMBOE and High (P10) Estimate Gross Unrisked Prospective Resources of 498 MMBOE. The total estimated Mean Gross Unrisked Prospective Resources on Block 2B is 1,593 MMBOE based on 19 exploration leads(1).

Premier Oil plc is carrying Taipan through the cost of the work program on Block 2B for the first additional exploration period totalling a gross cost of up to 29.5-million. This includes the drilling and testing of the Badada Prospect. Taipan holds a 45% interest in Block 2B and is the operator during the exploration phase with Premier having the right to assume operatorship of any development.

1. Sproule International Limited ("Sproule") completed an updated independent assessment of the Company's prospective resources on Block 2B with an effective dated of December 31, 2013. The independent assessment was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities.

About Taipan Resources Inc.

Taipan Resources Inc. is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp. Taipan operates and holds a 45% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Prospective Resources are those quantities of petroleum that are estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective Resources have both an associated chance of discovery and a chance of development. Prospective Resources are further subdivided in accordance with the level of certainty associated with recoverable estimates assuming their discovery and development and may be sub-classified based on project maturity.

There is no certainty that any portion of the Prospective Resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and include, but are not limited to, statements with respect to estimates of resources, future drilling and other exploration activities, and ultimate recovery of resources. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law. Statements concerning resource estimates constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the resources can be economically exploited.

FOR FURTHER INFORMATION PLEASE CONTACT:
Joel Dumaresq
Director
Tel: (604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

February 13, 2014 - Taipan Resources Inc. Announces 388 % Increase in Total Unrisked Prospective Resources on Block 2B

Nairobi, Kenya – Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to announce that an updated independent assessment of the Company’s prospective resources on Block 2B has been completed by Sproule International Limited (“Sproule”). The independent assessment was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The effective date of the report is December 31, 2013.

The total estimated Mean Gross Unrisked Prospective Resources on Block 2B in the report has increased by 388 percent to 1,593 MMBOE from 410.4 MMBOE.

The Pearl-1 prospect, that is expected to be drilled later this year, has been estimated by Sproule to have Mean Gross Unrisked Prospective Resources of 251 MMBOE.

The total estimated Mean Gross Unrisked Prospective Resources on Block 2B is based on 19 exploration leads as summarized in the table below. The estimated Mean Gross Unrisked Prospective Resources for the top six leads of Block 2B (Leads 1, 2, 3, 4, 5, and 8) total 960 MMBOE.

Premier Oil plc is carrying Taipan through the cost of the work program for the First Additional Exploration Period on Block 2B. This includes the drilling and testing of the Pearl-1 prospect. Taipan holds a 45% interest in Block 2B and is the operator during the exploration phase with Premier having the right to assume operatorship of any development.

Sproule International Limited Table
Gross and Net Unrisked Prospective Resources 1,5
for Exploration Leads,
Block 2B, Anza Basin, Kenya,
(As of December 31, 2013)


Gross Net
Prospect Low2 Estimate (P90) Gross (MMBOE)6 Best3 Estimate (P50) Gross (MMBOE)6 High4 Estimate (P10) Gross (MMBOE)6 Mean Estimate Gross (MMBOE)6 Mean Estimate Net WI=45% (MMBOE)6
Lead 1 (Pearl) 70 178 498 251 113
Lead 2 65 158 427 219 98.6
Lead 3 20 67 233 109 49.0
Lead 4 44 102 274 141 63.5
Lead 5 35 90 247 125 56.3
Lead 6 10 30 91 44 19.8
Lead 7 13 47 196 88 39.6
Lead 8 32 85 231 115 51.8
Lead 9 22 60 180 88 39.6
Lead 10 15 48 161 77 34.7
Lead 11 17 48 140 70 31.5
Lead 12 13 43 137 65 29.3
Lead 13 13 40 128 61 27.5
Lead 14 11 30 92 45 20.3
Lead 15 2.4 10.6 46.3 19.9 9.0
Lead 16 3 13.5 64 27.2 12.2
Lead 17 3 13.5 63.4 27 12.2
Lead 18 0.9 4.9 25.4 10.9 4.9
Lead 19 2.1 6.7 21.3 10.2 4.6
Total7 1593 717

Notes:
1. Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discover (geological chance of success) and chance of development (economic, regulatory, market and facility, corporate commitment or political risk). The chance of commerciality is the product of these two risk components. These estimates have not ben risked for either chance of discovery or chance of development. There is no certainty that any portion of the prospective resources will be discovered and, if discovered, there is no certainty that it will be developed or, it is developed, there is no certainty as to either the timing of such development or whether it will be commercially viable to produce any portion of the resources.

2. Low Estimate: This is considered to be a conservative estimate of the quantity that will actually be discovered or recovered from the accumulation. It is likely that the actual in-place volumes will exceed the low estimate. If probabilistic methods are used, there should be at least a 90 percent probability (P90) that the in-place volumes will equal or exceed the low estimate.

3. Best Estimate: This is considered to be the best estimate of the quantity that will actually be discovered or recovered fro the accumulation. If probabilistic methods are used, there should be at least a 50 percent probability (P50) that the in-place volumes will equal or exceed the best estimate.

4. High Estimate: This is considered to be an optimistic estimate of the quantity that will be discovered or recovered from the accumulation. It is unlikely that the actual in-place volumes will exceed the high estimate. If probabilistic methods are used, there should be at least a 10 percent probability (P10) that the actual in-place volumes will equal or exceed the high estimate.

5. The unrisked prospective resources are statistical aggregations of 100 percent success cases for the individual reservoirs of a prospect; that is, without consideration of the geological chance of failure of any of the individual reservoirs. When risk is considered, the probability of achieving the represented outcome will be extremely low.

6. MMBOE - millions of barrels of oil equivalent. Hydrocarbon fluid type is unknown in the block. These have been assessed as oil prospects. There is a risk that the hydrocarbon type may be gas, particularly in the deeper formations.

7. The Total volumes of all prospects apply to the summation of Mean volumes only. Arithmetic summation of the other categories (Low, Best, High) is statistically incorrect. The aggregation of the risked prospects assumes that all prospects, on a standalone basis, will be successful and may be misleading as it represents the most optimistic of all possible outcomes. When play risk and prospect dependency are considered, the probability of achieving the represented outcome could be low. The sum of the Mean Estimates may not add due to rounding.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 45% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Contact Information:
Joel Dumaresq
Director
Tel: (604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and include, but are not limited to, statements with respect to estimates of resources, future drilling and other exploration activities, and ultimate recovery of resources. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law. Statements concerning resource estimates constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the resources can be economically exploited.

February 3, 2014 - Taipan Resources Inc. Announces Update on The 220 Million Barrel Pearl Oil Prospect

Nairobi, Kenya – Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to announce that BGP has commenced the acquisition of further 2D seismic data on Block 2B, onshore Kenya. The data acquired will be used to finalize the drilling location for the Pearl-1 prospect.

BGP has been contracted to provide an additional 178.75 km of 540 fold 2D seismic data. The seismic program is expected to be completed by the end of February.

Taipan holds a 45% interest in Block 2B and is the operator during the exploration phase with Premier having the right to assume operatorship of any development. Premier Oil plc is carrying Taipan through the cost of the work program for the First Additional Exploration Period on Block 2B with a total gross cost of up to $29.5 million. This includes the drilling and testing of the Pearl-1 prospect.

Mr. Maxwell Birley commented, "The Pearl-1 exploration well will target a Tertiary prospect that is in a similar geological setting to Tullow’s Ngamia, Twiga, Ekales, Agete and Amosing discoveries. The Anza Basin is one of the largest Tertiary-age rift-basins in the East African Rift systems that together contain multi-billion barrel oil discoveries. We believe that the ‘sweet spot’ of the Anza Basin is located on Block 2B."

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 45% working interest in Block 2B (1.35 million acres / 5,464km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Contact Information:
Joel Dumaresq
Director
Tel: (604) 306 4000
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

January 5, 2014 - Taipan Resources: Applying Pre-Drilling Multi-Bagging Hypothesis Indicates Huge Short Term Upside Potential

Seekingalpha -- January 5, 2014 -- Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

In our first article on Taipan Resources (OTC:TAIPF), myself and significant contributor Robert Whelan of Resource-HQ of the UK introduced this Kenyan based oil and gas exploration micro-cap to Seeking Alpha subscribers and explained that the company could experience exponential growth in the near term as its fully funded 2014 exploration program is executed in highly "oil prolific" Kenya. Please take some time to review the article by clicking on the link above. It will set the context for this follow-up article where we will attempt to add more context for a potential multi-bagging of its share price.

The purpose of this article is to explain and apply a phenomenon known as "Pre-Drill Multi-Bagging Hypothesis" to Taipan Resources that is currently entering into the pre-drill time frame (where this phenomenon typically begins to very significantly impact the share price upward).

Introduction to the Pre-Drill Multi-Bagging Hypothesis

Small cap exploration companies approaching their first big drilling event can experience exponential share price growth even before the risky drilling process begins. We will be taking a look at the theory behind this phenomenon, the criteria needed for it to happen, some past and current examples of how it impacted the pre-drill share price and how Taipan Resources is the next stand-out candidate to experience this phenomenon in the West African exploration region in 2014.

The theory behind the surge in a small cap resource stock before its first big drilling event is that the market begins to price the chances of an oil discovery into the share price. Although 'wildcat' drilling by small cap resource stocks is risky, the market does not want to miss out on a discovery if one occurs. So in the two to six months preceding the drilling, the share price begins to reflect a "Risked" element of a discovery, that is, the chance of an oil discovery multiplied by the oil volumetric potential. A basic Risked NPV for the upcoming drilling can be estimated as follows:
RNPV = S x NPVb x GCoS
This is really a much simpler formula than it looks. Let's explain the four components:
1. RNPV = The Risked Net Present Value of the Prospect
2. S = The Size of the Prospect
3. NPVb = The Net Present Value per recoverable barrel of oil
4. GCoS = Geological Chance of Success
Now let's take a look at some of the inputs to the above.

But first a little on "oil finding" geology

Figuring out the mean resource size on a drill prospect can be a tricky exercise undertaken by the company geology team. World class experts such as Sproule World Wide Consultants can often be engaged to also acquire an independent estimate. It requires some good seismic data on the prospect and often complex simulation software such as Monte Carlo or GeoX is used to calculate GCoS. The all important seismic data will show the general size of the prospect and hopefully some good shale-sand intervals, traps, faults, four-way closures, bounding faults etc. Inputs to the GCoS estimate include source, reservoir and trap. As the old Amoco adage goes:

"It's all about source rock, the rest is just details."

Source can be evidenced perhaps by oil seeps, nearby oil or gas shows in previous wells or a big 'outcrop' visible at surface showing big shale-sand intervals. Traps or seals are typically formed where a big non-porous shale rock overlies a porous sandstone reservoir. They can also be created by faulting, where, after some tectonic shifting, the non-porous shale section in the fault lies alongside the porous oil bearing reservoir, thus preventing further migration or 'breaching' of the reservoir. Other factors such as known porosity or permeability from previous wells in the area might indicate the potential rate of oil recovery in the event of a discovery. Primary recovery factors around 15-20% would be seen as normal in a conventional well but certain stimulation techniques such as gas or CO2 injection can improve the prospect economics in the event of developing a discovery.

In terms of chance of success for 'wildcat' wells, nothing more than 30% is ever really credible amongst the geologist community, unless there's an outstanding prospect with multiple stacked horizons and proof of source rock. The more different aged horizons and traps in your drill, the higher your chance of success.

Taipan has already fully mitigated the pre-drill funding risk

The first risk that small caps need to avoid is that they do not default due to lack of cash before drilling which often happens. As was indicated in the first article, Taipan is fully carried for its entire well drilling program on their Block 2B and only have a 20% contribution for the drill that will take place on their Block 1.

Once the risk of default is eliminated and it's established that they will get their shot at the big time, then fulfilling the following three crucial criteria ensures the share price can begin to reflect the risked net present value (RNPV) of the prospect:

1) Big credible partners

The small cap exploration company must entice some big credible drilling partner (known as a farminee). They must convince their farminee that the geological argument for their play-type is sound. Having a big well respected exploration company farm into the prospect provides equity investment firms such as BlackRock, JPMorgan, Henderson Global, with the "third party (put your money where your mouth is) validation" they need to invest in the small cap explorer's stock pre-drilling. This institutional interest is one of the drivers of the Pre-Drilling Multi-Bagger Hypothesis.

2) Well funded

The small cap exploration company needs to have plenty of cash on hand, enough to fund the drill and ideally the big partners they have convinced to join them in the block are paying for it by 'carrying' the small company through drilling costs. Such is the case with Taipan Resources as discussed in the previous article.

3) Prolific acreage with big prospect size

Big prospects on prolific or 'new idea' prospective acreage is what drives big companies to farm into acreage with a small company. The country might have had a few recent oil discoveries or the new idea might be that the country's oil play-type might be analogous to oil discoveries in a similar geological setting (such as the idea that Offshore Namibia could yield similar discoveries to Offshore Brazil as they were both once part of the Pangea super-continent).

Some Examples of the Pre-Drill Multi-Bagger Hypothesis

Let's examine some past and present examples and their key success factors in causing this multi-bagging of their share price to occur:

1) Africa Oil Corporation (AOI.V)

Block 10BB - 50% 'Ngamia' Drill Onshore Kenya

  • Share price rise: $1.18 CAD Aug '11 to $1.97 Feb '12 (~67%)
  • Big Partner: Tullow Oil Plc (TLW.L)
  • Funding: Tullow Oil were carrying Africa Oil for drilling Ngamia.
  • Prolific acreage or credible idea: The Albertine Basin in Uganda was a similar aged East African Tertiary aged rift basin, where Tullow Oil and Heritage Oil struck oil along the basin bounding fault. The same play type was to be applied in the successful Ngamia-1 in the Kenyan Lokichar basin.

NOTE: Africa Oil's share price is currently $9.26

2) Pancontinental Oil and Gas (PCL.AX)

Block L8 - 15% 'Mbawa' Offshore Kenya

  • Share price rise: $0.07AUD Dec '11 to $0.22 Aug 12 (~200%)
  • Big Partner: Apache Oil Corp. (APA), Origin Energy Ltd. (ORG.ASE) and Tullow Oil (TLW.L)
  • Funding: Tullow Oil were paying for PCL's drilling to a cap of $60million gross.
  • Prolific acreage or credible idea: Big gas discoveries were made to the South in Tanzania and Mozambique while Kenya Onshore had produced its first oil discovery (Ngamia-1).


3) Tower Resources Plc (TRP.L)

30% 'Welwitschia' Offshore Namibia
(spudding Mar 2014)
  • Share price rise (to date): 1.22p Oct 13 to 4.8p Dec 13 (~300%)
  • Big Partner: Repsol (OTCQX:REPYY)
  • Funding: 2 fund raisings totaling $18 million in 2013, plus 10% further farm down on the way.
  • Prolific acreage or credible idea: The credible idea is that Namibia was once linked to Brazil and big offshore Brazil oil discoveries can be repeated on the Namibian side of the Atlantic. The recent HRT (HRTP3:BZ) Wingat-1 well encountered two encouraging oil generating source rocks in blocks South of Tower's block. Huge net risked recoverable resource of 496 mmboe, net to Tower, in 4 way dip closures. The huge risked NPV of 'Welwitschia' means the share price could well have a lot more upside in the next 2 months pre-drilling, assuming they secure their farm out.


There are many more examples of big rises in share price for small cap resource stocks approaching their first drilling catalyst. A recent Goldman Sachs E&P 50 report showed how in 2010 the capital markets priced in this first drill event up to ten months before drilling but by 2012/2013 this price-in period had shortened to two months prior to 'spud'. We would expand on this by adding the shrewd investor should begin to take their position within six months before drilling in anticipation of the share price rise, depending on the particular play involved.

So who's next for the Pre-Drill Risked NPV 'Price-in'?

Taipan Resources Inc. (TPN.V)


At the current share price of CAD $0.28, Taipan's market capitalisation is a mere CAD$24 million. Taipan has 45% of Onshore Kenya Block 2B and 20% of Block 1, and the gross area of the two blocks would cover Belgium; indeed, they are the fourth largest holder of onshore acreage in Kenya after three multi-billion dollar companies.

As mentioned in the first article, there are six exploration wells scheduled this year in the Kenyan region and 2 of these 6 are on Taipan's blocks 1 and 2B.

Let's take a look at the big three criteria to set this Pre-Drill Multi-Bagger Hypothesis in motion for Taipan Resources:

1) Big Partners

They are partnered with Premier Oil (PMO.L) on Block 2B and Afren (AFR.L) on Block 1. And they have the right management team to find the oil - CEO Maxwell Birley has a 50% wildcat hit rate while exploration manager Paul Logan has a 70% hit rate and was involved in the Ugandan Albertine Basin oil discoveries during his time with the Heritage Oil (HOIL.L)/Tullow Oil joint venture. Intriguingly, Paul Logan joined the Taipan team a few days before they announced the Block 2B farm in with Premier Oil, so whatever impressed Premier about the seismic, Logan was equally buoyant about it. The Risked NPV for Taipan's Pearl prospect on their Block 2B, net to Taipan is $135 million while the Risked NPV for the Khorof prospect on Block 1 is about $30 million. Together they make a Risked NPV of $165 million which is 7 times the current share price. We think over the 6 months preceding Q3 drilling of both prospects, the market will begin to price in most of the $165 million risked element of a discovery. As Max Birley said on a recent conference call, about the Pearl prospect:
"if it comes in and you don't bother with the risking, the prospect is potentially worth about $700 million to the company. And that is just one prospect. There are numerous other follow-on leads of the same size or greater that we would then follow up and drill at a later time."

2) Funded drilling

There are no questions about funding of drilling on Block 2B as Premier is paying for it as part of their $30.5 million farm in deal struck in October. Management is considering its options for funding 20% of the cost of drilling on Block 1, which include a further farm down of either block or a capital raise. Given the farm down of block 2B crystallized a gross farm down value on block 2B of $55 million, we argue the former option would be the route they take.

3) Prolific acreage

Kenya is the new hot spot of world exploration. Since mid-2012 there have been five oil discoveries in the Lokichar basin, one light oil or condensate discovery in the Anza basin and commerciality thresholds have been reached by the Tullow and Africa oil partnership. Some are concerned that there have not been many discoveries outside the Lokichar, but when you look at the evidence, coupled with the scarcity of wells that have been drilled to date, then either the Anza Basin (block 2B) or the Mandera Basin (block 1) which are owned by Taipan Resources, could yet yield many big oil discoveries. Taipan has mentioned there is an updated Sproule report coming out on block 2B soon, but let's for now take a look at what Sproule were saying about Taipan's blocks in June 2012. (The report is about 60 pages long and is available to all on SEDAR. Note that this report was updated before all the Lokichar discoveries were made in the upper and lower tertiary.)

Extracts from the Sproule Report:

Block 2B:

  • Sproule identified 17 leads on block 2B, with the top four leads showing 36-40% geological chance of success.
  • Mean gross prospective resource on Block 2B was 387 million barrels without allowing anything for the tertiary layers, where the Lokichar discoveries are now coming from.
  • The South Anza Basin (block 2B)has the thickest sedimentary section in the Anza basin.
  • The only previous well on block 2B, 'Hothori-1' (drilled 1989) had gas shows in the lower tertiary and upper cretaceous and fluorescence in sandstone cuttings "suggested the presence of liquid hydrocarbons" and Sproule's interpretation was that "the well did not penetrate the crest of the anticlinal structure."
  • Hothori-1 also penetrated a thick lower Cretaceous shale which is a good potential source rock.


Block 1:
  • Potential source rock coming from the 400-700 meter thick Egal Shale, which they say is a potential source rock for the Calub field in the Ogaden basin just north of Block 1 in Ethiopia.
  • Another important source possibility is the Upper Jurassic as elsewhere in Kenya the "Mtomkuu formation" is very shaly and could be a potential source rock.
  • Tarbaj oil seep, "appears to be an up-dip subcrop of an easterly plunging structural nose." (the Khorof prospect mapped by Afren is East of this oil seep)
  • Oil filled fractures in Murri Formation have been documented from an outcrop east of Tarbaj.

The Sproule report discussed the history of exploration in Kenya, showing only eight wells had actually been drilled in the Anza Basin (which has an area the size of Texas) in the 1970's and 1980's by a group of companies led by Amoco and Total. Six of them were in the north Anza basin while Anza-1 and Hothori-1 were in the south. However for Anza-1 (which had gas shows and good porosity), Sproule says no closure was evident.

While fluorescence indicated oil presence in Hothori-1, Sproule says the crest of the anticlinal structure was not penetrated according to their interpretation. So not only is there a scarcity of wells in the Anza basin, but the limitations of seismic and drilling techniques at the time seem to have handicapped the explorers in their endeavours. In April 2013, BGP (Bureau of Geophysical Prospecting of China) shot the highest ever resolution (560-fold) 2D seismic in Kenya on behalf of Taipan, shooting 800kms on block 2B. The seismic was good enough to secure the farm in of Premier oil and Max Birley confirmed that there were a number of other technically approved farm ins by other companies' exploration teams. Meanwhile on Block 1 Afren have shot 1900kms of seismic and interpretation is ongoing but their latest prospect seems to be the big structure east of the tarbaj oil seep shown on page 46 of their half-yearly presentation (and page 12 of Taipan's). They call the result of the new seismic "an exciting new inventory" from an "under-explored basin."

We wrote to Max Birley and asked him about the Sproule report in 2012, Sproule's 2012 view on the tertiary in block 2B, the prospects for oil in the tertiary and the source rock that might feed it. He gave us the following reply:

"All the evidence points to Block 2B having been at the centre of a continental depression/rift dominated by lacustrine and fluvial deposition throughout much, if not all of the Tertiary. Sproule's 2012 assertions on the prospectively of the Tertiary section fail to take into account the distribution of well data in the reconstructed palaeo-environment. Wells tend to be drilled on the basin margins, where sections are likely to be sand-dominated and will not reflect the geology in the basin centers. In the numerous discoveries made along the margins of the Albert Basin, in a similar depositional setting, relatively thin shales form effective seals to sizeable oil columns in a sand-dominated section on the basin margin. The source rock responsible for the generation of several billion barrels of oil has yet to be convincingly identified. With respect to Block 2B, the chief risk and unknown variable is the presence of potential lacustrine source rocks in the Tertiary section, but there is no reason to believe that they will not be present. There is strong evidence for marine source rocks in the Cretaceous section, but these may be mature for gas at the present time, although this is not a given. With respect to the Pearl Prospect we can infer from the seismic data that both seal and source horizons are likely to be present within the Tertiary section. The prospect is not dependent on the bounding fault as a four-way dip closure exists."


Risks to the Investment

Dry wells - The main risk for Taipan is that they hit dry wells in their Quarter 3 2014 drilling program which would result in a big decrease in share price although this article emphasizes the potential for the "Pre-Drilling" share price appreciation.

Geopolitical - Geopolitical tensions are also a concern although the Kenyan authorities have proved capable to date in dealing with disputes, especially in Turkana where five discoveries have been made to date.

Equity dilution (for fund raising) - There is also a risk of dilution if the company chooses to raise additional funds on the capital markets through an equity issue, rather than opt for the further farm down route.

These risks and others are also covered in the first article.

Conclusion

There are many hoops a "minnow sized" small cap resource stock must jump through to get to that fateful drilling day, such as raising money in an unforgiving market, going through painstakingly detailed farm out processes and all the while managing in-country operations on their blocks. However when the chance of a big drilling event becomes certain with big partners in the eyes of institutional investors, the market begins to price in part or all of the Risked NPV for the prospect which was calculated at $165 million (or about 7 times the value of the current share price).

The current "Pre-Drill Multi-Bagging Hypothesis" price-in time horizon seems to be about six months, and uniquely, Taipan Resources has two of those dates with destiny, both beginning in Q3 2014, which at time of writing is just six months away. The idea of the Pre-drilling multi-bagging hypothesis is that an investor can make a multiple return on his capital if he invests in a company that meets the three criteria, and watch their investment rise in the six months prior to drilling. With a Risked NPV of $135 million for the Pearl prospect on block 2B and $30 million for the Khorof prospect on block 1, a fully priced-in risked NPV by drilling date would mean a share price of $1.93 which is a potential multi-bagging of seven times today's share price, with no drilling risk.

Of course, we are not claiming that this kind of share price appreciation will occur but have provided examples where very significant pre-drill share price appreciation did occur so the purpose of the article was to broaden the horizons of the reader base that Taipan is poised for a potential significant increase in its share price if what happened to the peer examples happens to them.

Business relationship disclosure: A substantial amount of the content of this article was contributed by an associate as indicated at the commencement of the article. I do not have a business relationship with the company nor does the contributor and neither of us are getting paid by the company nor anyone else. We are simply shareholders of the company and the article was written to as a follow up to the first article introducing Taipan Resources to the Seeking Alpha investment community.

December 18, 2013 - Taipan Resources Inc. Completes $30.5MM Farmout with Premier Oil for Block 2B Onshore Kenya

Nairobi, Kenya – Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN), through its wholly-owned Kenya-based subsidiary Lion Petroleum Corp. “Lion”) has completed the previously announced farmout agreement with Premier Oil Investments Limited (“Premier”), a subsidiary of Premier Oil plc (LSE:PMO), whereby Premier has acquired a 55% participating interest in Block 2B onshore Kenya. Taipan retains a 45% interest and operatorship during the exploration phase in Block 2B.

Under the terms of the farmout agreement Premier will carry Taipan through the cost of the work program for the First Additional Exploration Period totalling a gross cost of up to $29.5mm. This includes the drilling and testing of the Pearl-1 prospect that is estimated to have gross prospective resources of 200 million barrels of oil (mmbbls). The remaining lead inventory on Block 2B in addition to Pearl-1 is capable of delivering in excess of 500 mmbbls gross.

Premier will also provide a guarantee for the minimum work and expenditure obligations for the First Additional Exploration Period on Block 2B of US$13 million and will pay Taipan $1 million in back costs.

Taipan will retain operatorship of Block 2B during the exploration phase with Premier having the right to assume operatorship of any development.

Mr. Maxwell Birley commented, "We look forward to working with Premier Oil, a company with a strong track record of exploration and development success. The Pearl-1 exploration well is targeting a Tertiary prospect similar to Tullow’s Ngamia, Twiga, Ekales and Agete discoveries. The Company also has multiple prospects similar to Tullow’s Eutko discovery. The Anza Basin is one of the largest Tertiary-age rift-basins of the East African Rift systems that together contain multi-billion barrel oil discoveries. We believe that the ‘sweet spot’ of the Anza Basin is located on Block 2B."

About Premier Oil plc

Premier Oil plc (LSE:PMO) is a leading FTSE 250 independent exploration and production company with interests in the North Sea, South East Asia, the Middle East, Africa, Pakistan, Brazil, and the Falkland Islands. Its portfolio of producing assets delivered production of 58,600 boepd in the first half of this year, and it has various projects in the development phase which should increase production to over 100,000 boepd in the medium-term. Premier became active in Kenya in 2011.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

Taipan operates and holds a 45% working interest in Block 2B (1.35 million acres / 5,464km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Contact Information:
Max Birley
Chief Executive Officer
Tel: +254 705 643 745
mbirley@taipanresources.com
www.taipanresources.com

Joel Dumaresq
CFO and Director
Tel: +1 604 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states – Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

November 21, 2013 - Taipan Resources in good company in Kenya with Tullow and Africa Oil as partners

By Proactive Investors --(November 21, 2013, 11:19am) - Taipan Resources in good company in Kenya with Tullow and Africa Oil as partners

Maxwell Birley heads Taipan Resources (CVE:TPN), one of the lucky juniors to have secured acreage in Kenya -- among the world's exciting new oil addresses. Taipan's property is next to licence areas owned by Africa Oil (CVE:AOI) and Tullow Oil (LON:TLW), two of the world's most successful explorers.

October 28, 2013 - Taipan Resources Inc. October 23, 2013 Conference Call

CORPORATE PARTICIPANTS

Max Birley
Chief Executive Officer

Paul Logan
Exploration Manager

Joel Dumaresq
Chief Financial Officer

CONFERENCE CALL PARTICIPANTS

Robert Whelan
Resource HQ

Anish Kapadia
Tudor, Pickering, Holt & Co.

PRESENTATION

Operator

Thank you for joining the Taipan Resources conference call to discuss the recently-announced farm-out of Block 2B to Premier Oil. Hosting the call is CEO, Max Birley; Exploration Manager, Paul Logan; and CFO, Joel Dumaresq. There will be a short Q&A period after the discussion to answer any questions that may come up. Over to you, Max.

Max Birley, Chief Executive Officer

Thank you very much. Welcome, everybody, whether it’s morning, afternoon, or evening for you. Thank you very much for taking the time to join us for the conference call.

I’m going to start off and go through a few points relating to the farm-out, what value we think we’ve added, and operate some operational updates for the company, but I’m going to hand it over to Paul, who will go through a short discussion on the prospect that we intend to drill on 2B and then finally hand off to Joel to go through some of the financial aspects, and then we’ll have a question and answer session at the end of that. So let’s start.

I think that it’s important to get across to people exactly what the Premier farm-in means to Taipan. Taipan will retain 45 percent interest and the operatorship in this 5,000-odd square kilometre block. We’re going to receive $1 million in back costs, as well as $13.25 million in a forward carry for future work on the block. This is equivalent to an investment by Premier of $30.5 million gross because they’re going to pay their own interest and as well as our interest ( the “carry”). I think that some people have been confusing the net numbers and the gross numbers. So this is by any means a very healthy farm-in, and it’s going to allow us to immediately shoot some seismic and we’ll be fully funded on the drilling of the first well on the license. In addition to this, Premier will pay for the bank guarantees and parent company guarantees, and this leads to an additional net saving to Taipan of about $2.9 million.

So let’s look at how this actually adds value to what we’re trying to do. We believe that the Pearl 1 prospect is about 200 million barrels. If you take 100 percent interest through the PSC (Production Sharing Contract with Kenyan Government) it has an un-risked NPV “(net present value”), of about $1.5 billion to the contractor. At 45%, this gives “Taipan” an un-risked NPV of $675 million. If we then apply a 20% geological chance of success, this still leaves us with a risked NPV of about $135 million. And this will come at no cost to the shareholders going forward. Taipan’s market cap as of yesterday was approximately $30 million. This well, which is fully funded by Premier, gives us a shot at $135 risked NPV. Now if it comes in and you don’t bother with the risking, the prospect is potentially worth about $700 million to the company. And that is just one prospect. There are numerous other follow-on leads of the same size or greater that we would then follow up and drill at a later time.

If we keep with the big picture for a moment, you’ll remember shareholders have contributed to recent $14.5 million to raises over the last 15 months, and what Premier are putting in with the $1 million and the $13.25 is $14.25 million going forward. So effectively Premier are investing a similar amount to what shareholders have done since inception. Thus there will likely be no additional calls to shareholders for funding on this block, and we get the drilling of one well and potentially others. People are asking what’s the time it’s going to take to close the deal. We are working through procedural items and expect one month to two months to close this out. We believe that all of these things are perfectly achievable.

Why did we choose Premier Oil? Okay-they’re internationally experienced, and they will add technical value to the technical work that we’re doing. They have the cash resources to fund the exploration program. What’s important is I don’t think Taipan really wants to become a development operator. It completely changes the whole nature of the company. Premier can take up the gauntlet at the time we make a discovery and do the development and production stage of anything that we find. We essentially want to stay as explorers which we believe provides the most upside to our share price. Also, Premier is not too large, you know, they’re not an Exxon Mobil, not too slow, not too expensive. So they’re a good fit for a company like Taipan. Moreover, I personally have a good working relationship with them going back for 30 years - I actually worked for Premier for 18 years, so at the director level, CEO level, we all have a good understanding of each other and our cultures are very similar.

So why did Premier choose us as a partner? Premier, already has interests in Kenya offshore where British Gas is their operator, so Premier is a non-operating partner offshore. They have a good understanding of the hydrocarbon potential within Kenya. And what they originally wanted to do is they wanted to farm into the Africa Oil acreage that Tullow farmed into, but they missed out on that deal for various reasons, and they looked at all farm-outs available onshore Kenya. They looked to the blocks to the north of us, to the south of us, all over the country on shore, and they chose Block 2B specifically because they believe there’s a Tertiary oil play that is similar to the discoveries being made on the Tullow/Africa Oil acreage. Basically they like the assets and they think that we’ll be successful and we have a very high upside on follow-on exploration. So this is not a one-shot prospect for them; there are multiple drillable targets if we are successful.

What technical work needs to be completed prior to drilling? We shot a 440 kilometre seismic survey early on this year and we want to follow on with another small seismic survey in Q1 of next year, just to firm up the precise drilling location on our Peal 1 prospect. The prospect will be the Pearl prospect, which is a prospect which is analogous to the Tullow Ngamia/Twiga/Ekales prospects.

So what are we looking at in terms of the timeline to drill that well? Essentially it is related to the closure of the deal. All wells drilled properly take about nine months to properly plan and engineer, so we’re looking at Q3 next year. I want to sort of clarify some ideas on the well costs, that they’re still at an early stage of being engineered, so we still deal with ranges. A well in another logistically difficult place somewhere else in the world -say India - would typically cost $12 million, but there is an added cost of logistics of Kenya, so we’re looking at between $18 million and $25 million. The total budget for this quarter and all of next year is about $29 million. So you can see that the farm-in covers for all of that.

So what has been happening in the region to add value to Taipan’s story? Well, in the last conference call that we made, Tullow/Africa Oil had not made the discovery with the Etuko or the Ekales wells in the Lokichar Basin. Now these have been declared discoveries, there are four discoveries in the country, and in 18 months they’ve managed to prove up 368 million barrels of 2C proven resources, so this is an outstanding success and we believe that this basin, the Tertiary basin, will occur in the area that we are operating.

So what’s happening and what’s going to happen or currently happening in the region to add value to what we’re doing? Africa Oil in Block 9 has spudded the Bahasi well. It’s a Cretaceous test of 320 million barrels prospective resources and the well is located just 170 kilometres from where we expect to drill on our license. Vanoil is having some difficulty but they are committed to drilling a Cretaceous well which is about 80 kilometres from the south of our acreage. I think that that was indicated at 700 million. New Age is drilling the El Kuran in Ethiopia, not too far away from our acreage on Block 1. They’re drilling a Jurassic carbonate test and apparently that’s about 1.3 billion barrels.

In Q1 I think the much more interesting wells start to happen. Q1 2014 the Sala well, which is a Tertiary prospect on Block 9, will be drilled by Africa Oil and that has 402 million barrels. Most importantly, it’s only 65 kilometres from where we would drill on 2B. The Afren well on our own Block 1 is likely to be drilled in Q3 of 2014. Other things that are going to happen is that we currently have net to Taipan, 320 million barrels of un-risked prospective resources. We’re undertaking an update of the CPR. The update is being prepared by Sproule out of Calgary. At this time it’s only for Block 2B and we’re expecting that the B2B portion, which is 410 million barrels of un-risked resources, will increase as a result of analysis of the recent seismic work we completed. Obviously our share of that will now be 45 percent. So lot’s of wells being drilled, and we’re carrying out technical work and resource estimates.

I do believe that we have delivered the promise that we made. We have clearly demonstrated that we can identify assets, we’ve purchased them in one of the hottest oil exploration areas in the world, we’ve had to resolve many technical and PSC issues that we were left from the previous people that managed those assets, and we have successfully gone into a country where we didn’t have a great deal of experience. Obviously we’re experienced in the oil and gas game, but we didn’t have 40 years of experience in Kenya, because, quite honestly, no one has got it. And we’ve acquired seismic data and gravity data in record time, safely and cost efficiently. In addition, we’ve developed an excellent relationship on the ground in the area where we work and with the Ministry of Energy in Nairobi. We do have an excellent relationship and both parties respect each other. And also, as you know, recently we have farmed-out to Premier and raised, without recourse to shareholders, effectively 50 percent of the working capital of the company going forward.

So what’s our strategy going forward? It will remain the same. It’s to use capital to secure projects and undertake enough technical work to enable us to bring industry partners in to fund further exploration programs.

So if we look at Block 1 for a moment, this is a large block, 22,000 square kilometres of acreage, and currently our capital exposure to the end of next year (2014) is between $8 million and $11 million. Among other options, we’re considering a farm-out of half of our interests to reduce our interests from 20 percent down to 10 percent. Assuming that we get a ground-floor deal on (back) costs, this will reduce our exposure to $2 million to $3 million. Assuming again a 200 million barrel field, this will give us an un-risked NPV for one well of about $150 million or $30 million on a risk basis. And yet again on the block there are many follow-on prospects that can be drilled.

So what we want to do is continue with Block 2Band also finalize our plans on Block 1. We want to acquire further equity positions in sub-Saharan oil-prone exploration areas, and we’re prepared to aggressively pursue this strategy through acquisitions, mergers, license rounds, or possibly farm-ins, as long as the deals are reasonable. And we want to undertake some technical work to improve the technical understanding and then farm-out a reasonable percentage to the industry. We’ve proven that we can do this, and we want to roll this model out again. And over the next two to three years, we want to get the company exposed to at least five exploration wells, because this is a statistical game, and we need to have the pipe full of exploration targets.

In terms of organization I’m pleased to introduce you to Paul Logan. Paul is the former Chief Geologist of Heritage Oil. Heritage were very, very successful in the Anza Basin of Uganda where many billions of barrels of oil have been found and will be produced. Paul has a personal success ratio of about 80 percent with exploration wells. I’m a technical person myself, I’m a geophysicist, but I have about a 50 percent success rate. A lot of people don’t think that’s very high but I can assure you it really is outstandingly high. And between the two of us, we’ve found about 3.75 billion barrels of oil equivalent, and we hope to do that continuing in Taipan. Also, we have recently employed security and accounting staff in Kenya to strengthen our operating capability and further technical people in the UK are being taken on.

I’d like to point you to our website. We have recently updated it. It was getting a bit tired. We were waiting for the farm-out to do that so we’ve given it a bit of a brush-up and also we have issued on that website the corporate presentation.

So what I’d like to do now is hand over to Paul Logan, who is our Exploration Manager, and he will give you a short brief on the Pearl prospect. Paul? Thank you very much.

Paul Logan, Exploration Manager

Okay, good afternoon or good morning.

The Pearl prospect is a very exciting prospect for us and hopefully for yourselves. It’s situated in the central part of the Block 2B, and it comprises what we describe as a downthrown closure against the basin-bounding fault, so it’s downthrown with a Tertiary basin down-thrown against a much older rocks, which provides a sealing mechanism. It certainly, as far as we can see on our seismic data, looks very similar to Tullow’s Ngamia discovery, which has tested oil, with a series of faults stepping down at the basin. We have an advantage with the Pearl prospect as well. It appears to show an independent rollover as well as the potential downthrown closure to the basin margin fault. So it’s looking quite a strong prospect for us.

We expect to see a Miocene age section in here, predominately Miocene, which is very similar to the western arm of the East African Rift and including the Anza Basin of Uganda, which, as Max just referred to, Heritage and Tullow were very successfully finding a large, a very large amount of reserves there. So we are expecting to see a Miocene section. Potential source rocks here would be lacustrine in character, which mean they were deposited in an ancient lake when the basin was first formed in the early Miocene, and we would expect to see something like 6,000 metres (of) section in the basin. We won’t be drilling that deep because we don’t need to go all the way down but we would expect to see a well-developed reservoir section with lacustrine or lake-derived sandstones and also fluvial sandstones that had been shedding to the basin during its development, providing the reservoirs with lake clays and fluvial clays forming (inaudible) seals so the potential for stacked reservoirs is also here. So planning the Pearl well to test the majority of the Miocene section on this basin margin play is a very exciting prospect for us.

There are, as Max referred to, a number of other prospects in the basin, which we will be developing in due course. We have a considerable amount of data and we’ll be developing further prospects as we go along in the coming months, hopefully making some of them ready to drill. The potential reserves on Pearl, I think Max referred to earlier, are in the region of 200 million barrels un-risked. So the potential risk reserves here could be quite substantial and obviously would represent an extremely valuable resource for Taipan and our shareholders.

I think that’s about all I want to say about Pearl at the moment, Max.

Max Birley, Chief Executive Officer

Okay. So, Joel, maybe you could take over and go over some of the financial aspects of the company.

Joel Dumaresq, Chief Financial Officer

Certainly. Thanks very much, Max.

I should just mention quickly here that it’s early in the morning Vancouver time and I’m in an energy-efficient building where the lights sweep off every half hour, so if I go in the dark just bear with me and we’ll get the lights back on here.

I’m pleased to give an outline on where Taipan and Lion sit financially and since inception. I think everyone’s probably aware we’ve raised approximately $18 million for Taipan and in particular for the Lion acquisition and the work programs that we’ve been engaged in on Blocks 1 and 2B. The last fund raise that we completed was just a little over $3 million and that took place in February of this year and that raise was of course designed to take us through the completion of the farm-out, which we had anticipated at that time would be completed by the end of the second quarter. Obviously, for a host of reasons, it took longer than that, but we are very close to completion now.

As of yesterday we had on hand a cash balance of approximately three quarters of a million dollars in our treasury. As Max has already explained, through the Premier deal we are carried on Block 2B through the current exploration phase, which includes $1 million in (back) costs and access to a further $4.5 million which can be drawn down and applied to our respective share of expenses on Block 2B going forward. Between the forward costs, the well commitment and the well testing - what Premier is making into Taipan/Lion is a $29.5 million commitment directly to Block 2B.

On Block 1 we have been working with Afren towards reaching a settlement on the outstanding cash calls which amount to just a touch over $2 million and, as people are probably aware from our filings, we have disputed the cash calls and some of the expenses that we have received from Afren. I’m not going to get into a lot of detail at this point because we are in fairly sensitive discussions with them towards resolving that, but we do certainly expect that we will resolve it before the end of the year and we would also hope and expect that we would have a reduction in the amount of money that we owe them.

And when we do arrive at a settlement we will, of course, require some money, not only to settle with Afren but also to look after the balance of our obligations on Block 1, which will include a portion of a well in 2014. To that extent we are considering all the options, as Max has already outlined, which could include a direct investment into Taipan from a strategic investor, a further farm down in our equity on Block 2B, which I would argue would be at a premium to what Premier recently paid, or perhaps even a capital raise next year. We’ve been in discussions with potential strategic investors as well as investment banks surrounding the various different alternatives.

I should also point out that we have assembled the team, and in particular Max and Paul Logan, with a view toward securing opportunities well beyond our two Kenyan blocks. As we work our way through these two wells in 2014 we have begun to review all opportunities and will pursue some of these opportunities in sub-Saharan Africa, as Max has already described. One additional priority that I have set for myself and my team, is to increase the institutional ownership and the after-market support for our stock. Presently I don’t think it’s any secret that we’ve been predominately a retail story. That said, I think it’s fair to say that we have perhaps the strongest independent story in Kenya outside of the Africa Oil story, and of course we’re at a small fraction of the valuation of Africa Oil, so I think we’re very, very good value at this point in time.

Max, and I will be going on the road for the next two to three weeks starting early November and doing a marketing swing that’ll take us through major cities in Canada, the U.S., a stop in Ireland where we have a strong and loyal investor following, and then also through London and into Europe, so we look forward to meeting anybody that would be interested in meeting with us. Probably the best way to handle that is if you would like to meet with us during our tour please just reach out to me and send me an email and we’ll try and work you into our schedule. Our marketing schedule will soon be posted on our website.

So that pretty well concludes my comments. What I’ll do is turn it back over to the conference moderator to handle the questions.

QUESTION AND ANSWER SESSION

Operator

Thank you, gentlemen. We will now take questions from the telephone lines. If you have a question and you are using a speakerphone, please lift the handset before making your selection. If you have a question, please press star one on your telephone keypad. If at any time you would like to cancel your question, please press the pound sign. Please press star one at this time if you have a question. There will be a brief pause while participants register. Thank you for your patience.

The first question is from Robert Whelan with Resource HQ. Please go ahead.

Robert Whelan, Resource HQ

Hi, Joel. Hi, Max. We’re from Resource HQ in Dublin and we’ve been behind companies such as Cove Energy and Fastnet Oil & Gas and we’re really excited about Taipan as well so we just have a few quick questions. The first is on completion of the farm-out deal with Premier what do you expect your estimated cash position to be? And I think you’ve mentioned the settlement with Afren and the estimated cost there but roughly what do you expect the cash position to be?

Joel Dumaresq, Chief Financial Officer

Well, right now, as I may have said, we’re sitting on about three quarters of a million dollars in cash, Robert. We’ll also receive on closing an additional $1 million and we’ll have some forward costs that we can call upon as well. So effectively access to cash is going to be somewhere between $5 million and $6 million at that point in time and, as you point out, we have the settlement, wherever that ends up falling out, with Afren, which is going to end up, I would presume, somewhere in the neighbourhood of $2 million.

Robert Whelan, Resource HQ

Okay, that’s great. Second question is 600,000 of the 20 million 12-cent options were exercised in June and as you are probably aware of who these guys are can you indicate what their exercising price preference is?

Joel Dumaresq, Chief Financial Officer

Hmm. Fair question. I wish I could indicate what their exercising price preference is. What I can tell you is that you’re correct that we are in contact with the various warrant holders, 12-cent warrant holders. We have a plan to approach them and encourage them to exercise—I can’t really comment beyond that until after we’ve spoken with them but I’d say it is in the best interest of the company obviously to get them exercised and also to have that additional capital - the $2.5 million - that would come from the exercise into the treasury. So it’s a priority for us.

Robert Whelan, Resource HQ

That’s great. Thanks, Joel. Just another question. You touched on institutional investment during the main section of the call and institutional investors sometimes prefer to have third-party verification before they invest in a small company like Taipan. Now that they’ve got that third-party verification on Block 2B with Premier and Block 1 with Afren what do you think the chances are for institutional investment in the stock?

Joel Dumaresq, Chief Financial Officer

Well, if you look at our current institutional ownership, I don’t know what the percentage is right now, it’s, as I mentioned, been traditionally very low, largely because it started off as a retail story and I think very early on we expected to get a quick conclusion to the farm-out process and indicated that we expected to complete the farm-out process almost a year ago. It took longer than that largely because of the amount of interest that we had. We had significant interest in the story and had to work it down to one eventual buyer and negotiate with that buyer. But what happened over the course of that period of time was that we had the feedback institutionally that people were going to wait, as you point out, for that third-party validation, which is now out there. So our plan is to go on the road to visit many of the institutions that had indicated to us that once we got the farm-out complete that they would like to come in and become investors in the stock. This is the first step in that, this conference call, just to make sure that people understand what we see as the significant value that’s been created by the deal with Premier and we’ll go out and build on that and I would expect, we’ll start to see the institutional ownership increase substantially from this point forward.

Robert Whelan, Resource HQ

Okay. And my final question is Block 1, that 22,000 square kilometres, and with 1,900 kilometres of new 2D seismic, it just seems to be a little bit under-promoted in the presentations. Can you just confirm if this is a result of the stalemate with Afren? Can you give us an indication of the level of interaction with Afren and how soon you expect to resolve the impasse and the level of excitement about the prospects on Block 1?

Joel Dumaresq, Chief Financial Officer

Well, I don’t want to have all the fun here; why don’t I throw that one over to Max to answer.

Max Birley, Chief Executive Officer

Basically, for the earlier part of the year we didn’t have much interaction with Afren but recently we’ve had a steady stream of emails back and forth. Essentially if we clear the cash call then life will be back to normal. Now we do believe that we have some issues to deal with and Joel mentioned by the end of this year. I think the point of this is that it’s an exciting block but it is very, very much a frontier exploration block. There’s a proven petroleum system, there are oil seaps at the surface to along the western edge of the block, and all other parameters are there—reservoir, source field—to make a discovery. The size of the prospects that we’re aware of on the seismic, you know, they’re sort of 40-square kilometres up to 70-square kilometres, and there’s a number of these, so yes, I think it could be exciting. However, I think that we’ve always got to look at our exposure and the risks. So at the moment we have a 20 percent interest.

Looking at the amount of money that we would need to the end of next year would be, as I said, between $8 million and $11 million. So I’ve got no doubt that we can resolve the issues with Afren, but we’re going to need some money to do that. What we want to decide is how much of—you know, exploration dollars are like the hardest things in the world that I have ever looked for. Finding oil and gas is easy; it’s, you know, you guys giving us the money, which is the tough stuff. So I think what we’ll do is we’ll look at the market, see what the appetite is like. Technically I think we’re happy with between 10 and 20 percent. I think 10 percent a field is probably better for us and see if we can bring in a farm-in partner to reduce our equity. If we, you know, alternatively we could still go with a full 20 percent, but that means putting more money into it. It’s a good block but it’s still frontier, high-risk, you know, exploration. Any block in Kenya is premium. No blocks have been awarded for quite some time. They are going to have some rounds and any block, any block in Kenya is probably going to go for about $20 million. So going forward a one-shot at, what did I say, $130 million risked NPV, for this amount of money I think is very reasonable. So I think you’ve got to just stick with it and jest let us get on and see what the best deal we can do to work out on Block 1.

Robert Whelan, Resource HQ

Okay. Thanks, Max. Thanks, Joel. That concludes our questions. We’re very excited about Taipan in general. Thanks very much.

Max Birley, Chief Executive Officer

Yeah, we’ll have a Guinness with you next time we see you.

Robert Whelan, Resource HQ

Okay. Looking forward to it.

Operator

Thank you. The next question is from Anish Kapadia with TPH. Please go ahead.

Anish Kapadia, Tudor, Pickering, Holt & Co.

Hi. Good afternoon. I have a three questions please. The first one was to do with the risks around the Pearl prospect. Could you just talk a little bit about the evidence that you’ve seen for Tertiary source rock, any potential gas risk that you see, and also reservoir risk, as we’ve seen a bit of reservoir risk with the Tertiary plays in Kenya elsewhere.

The second one is, staying on the Pearl prospect, why is there a big difference in your size estimate versus Premier’s mean estimates? I think you’re talking about over 200 million barrels; Premier’s number is around 105 million barrels.

And my final question was could you go into a little bit more detail on the (inaudible) or otherwise for the wells that you mentioned, so Bahasi, Sala, and Vanoil’s well? What should we be looking for in those wells? Thank you.

Max Birley, Chief Executive Officer

Okay. Let me answer those, okay? In terms of the risk, you know, I think that most people would consider the source and fields to be a risk. If you listen to Keith Hill, he often says that, you know, you’ll find the structures but, um, in—okay, one of the ways that our basin is perceived as, before people actually look at any data is they say it’s a Cretaceous basin, okay, and it’s an extension of the basins in South Sudan. Well, that’s fine, but we have 9,500 feet of Tertiary in the Hothori well, which is located about, you know, on the block and 20 kilometres from where we’re going to drill. So we definitely have a Tertiary section. And the way that we map it is that we have a thick Miocene section, which is the same section that we see in the Tullow’s acreage. Now we’ve had a geochemist look at the Loperot well drilled by Shell and we’ve identified the same source horizons in that well as in some of the wells located in the south of our acreage. The source potential is marvelous; however, it’s the south of our acreage, it wasn’t mature, so you have to go down into the deeper centre which occurs on Block 2B before it becomes mature. Now some people will see a gas risk. Bogal is that Cretaceous discovery, one to four Tcf drilled by the Chinese in 2009 I think, yes, and we could have gas migrating up the faults as well, but I think that the chances are that it will be an oil play.

In terms of reservoir, you know, I don’t think there’s going to be much problem with the reservoir. Hothori has got a lot of sand in it. The higher risk is the (seals). And one of the reasons why we shot 540 fold seismic data was because we wanted to see the different packages on the seismic data, and we have very, very clear packages that are indicative of sand sections and sand sale sections and they’re all within closure. Okay?

So in terms of the difference between the resource estimates all I’ll say is this, is we’ve done a lot of work and the volumes that you get purely come down to how many stacked sections come in. You know, if one sand comes in it’s X and if ten sand comes in it’s 10 times X. So really the, um, and some estimates that we have are significantly higher than 200 million barrels, so if we add up all of the stack sand possibilities it’s a 500 million barrel prospect, but we’re not actually going out and saying that. If you look along trend to Sala, which is 65 kilometres away, they’ve got roughly the same (inaudible) closure, you know, it’s slightly bigger, and they’ve got 400-and-something million barrels. Okay? So having a 200 million barrel prospect along trend is a perfectly reasonable thing. If you look at some of the sizes of the Lokichar Basin, yet again, 200 million barrels is a perfectly reasonable number. At the end of the day it’s going to be whatever we find in the, you know, it’s just all geologists and geophysicists making estimates. Pick a number. At 100 million barrels it is still incredibly economic. At 200 million barrels it’s much more economic. Okay? So I don’t think that we can, ah, it just comes down to the amount of stacking. Okay?

Now in terms of the other wells that are being drilled, the closest to our acreage is Bahasi well, Africa Oil, Block 9. It is a Tertiary and Cretaceous large feature. That is the closest analogy that we have to what Tullow are doing and the closest to our acreage. The well, I would prefer they have drilled the well before—sorry. Sorry, I’m confusing you. Sala, which is the second well, is the closest analogy what we have. So Bahasi is a Cretaceous, large Cretaceous structure, it could be like (inaudible). I don’t know much about it but I think it’s more Cretaceous. I believe the Vanoil prospect they’re drilling is a Cretaceous flower, so an inverted structure. I must admit I tend not to like flowers in sand-prone areas. They have some real problems. I think that I saw some resource estimates of probably 700 million barrels but, you know, you can take that with a pinch of salt.

So, you know, there are wells going on around our area. Any one of them comes in. We do have Cretaceous plays but we don’t, we don’t chase them very hard. We’re really going for the Tertiary. And also we have the Tertiary plays up against the (bounding) fault like Tullow but also we have the Etuko-type prospects as well, which will be sort of some of the prospects that we’ll probably test after we have been up and down the main fault block.

I hope that was a reasonable answer for you.

Anish Kapadia, Tudor, Pickering, Holt & Co.

It was. Just a couple quick clarifications. What was the chance of success that you’re currently estimating on Pearl?

Max Birley, Chief Executive Officer

We’ll clarify that when we have shot the further seismic and continued with some more of the work. 64 percent is the figure used by Africa Oil/Tullow in the area in the main rift where they’re now drilling prospects which have, you know, high-60s chance of success. So I think in our area still, because not one of these things has been found yet, you know, pick a number. 20 percent, 30 percent, 40 percent you know. The Sproule report has one of our prospects at 40 percent. It’s a difficult subject to really document when so few wells have been drilled.

Paul Logan, Exploration Manager

Yeah, can I just add to that, Max? 64 percent is the number they are using for Ngamia. But, yes, 20 to 30 percent is quite reasonable. And I think it’s worth adding with respect to risk on sourcing that, um, I mean if something like 2 billion barrels or more of oil in place have been found in the Anza Basin, which probably means that several tens of billions of barrel of oil have been generated there and nobody has yet seen anything closely resembling a source rock at all. So nobody has seen a source rock in the Anza Basin but there’s a hell of a lot of oil there.

Max Birley, Chief Executive Officer

Yeah. And we do find good source rocks in Kenya.

Paul Logan, Exploration Manager

And it’s worth adding on the gas risk that there’s always a gas risk but the chances are here that the level of maturity is likely to be such that if there is gas it’s going to be marginal in the deepest parts of the basin. The majority of the basin we can expect to be in the oil window in terms of source rocks.

Max Birley, Chief Executive Officer

You know, the geothermal gradient here is lower than you get in the Tullow and the Anza basin and the structures are bigger so, hey, it could be very, very nice.

Anish Kapadia, Tudor, Pickering, Holt & Co.

And just as a second one, I just wanted to clarify, so it sounds like on Bahasi there shouldn’t be really much read through into Pearl given that’s a Cretaceous prospect, so there’s nothing really to learn and kind of takeaway, um...

Max Birley, Chief Executive Officer

Well, if they start finding Cretaceous oil, um, you know, in the Cretaceous on our block varies greatly with depth and I believe that we could find the Cretaceous oil play on our block. And it’s a huge block. We’ve got 5,000 square kilometres. God knows how many (inaudible) blocks. You know, it’s just simply naive to think that all the Cretaceous is going to be pushed down and a gas play. We’re just not heavily—we do have a Cretaceous prospect, okay, on the block. It sits under rotated fault Block 4. So we’re not heavily promoting the Cretaceous. If it comes in, we will be seriously looking at the Cretaceous as well. Okay?

Anish Kapadia, Tudor, Pickering, Holt & Co.

Sure, sure, no, I just meant more the other way, that from a Tertiary perspective there’s unlikely to be any—

Max Birley, Chief Executive Officer

Yeah.

Anish Kapadia, Tudor, Pickering, Holt & Co.

Obviously if the Cretaceous comes in it de-risks the Cretaceous on your block, but you’re unlikely to learn anything on the Tertiary from Bahasi.

Max Birley, Chief Executive Officer

You’ve got it. Yeah.

Anish Kapadia, Tudor, Pickering, Holt & Co.

Right. Thank you very much.

Operator

Thank you. Once again, please press star one at this time if you have a question.

There are no further questions registered at this time. I would like to turn the meeting back over to Max.

Max Birley, Chief Executive Officer

Okay. Well, you know, thank you very much, everybody, for listening. I think that Taipan has a great management team. I’m not talking about myself; I’m talking about all the other people who work incredibly hard to make this happen. We’re very, very passionate, we’re very, very motivated, and we’ve got a proven track record individually from previous lives and together of making things happen. And I think this is a very nice little model. You know, we’re small, we’re cheap, any success is going to have a serious impact on our share price, and we can pick up acreage in Africa, we can develop relationships with the governments, we can execute on the ground in areas that some people think are difficult, and we can have a conversation with serious parties to bring them in to farm them into the acreage. And, you know, we are operating on behalf of Premier. Okay? So the amount of due diligence they have done on our business, they are very happy with what they see and they think that we have the capability to operate on their behalf. So I think that is a pretty good statement for a company with a market cap of about $30 million.

So we’re going to aggressively manage our acreage and we’re going to aggressively try and pick up other acreage but we need support from the industry, we need support from shareholders, and funds to be able to fund this going forward. So I have no doubt that we’ll be successful in the future. So we’ll be very happy talking to you again in the near future. So thank you very much for making the effort to come and listen to us today. Thank you.

Operator

Thank you. Once again, please press star one at this time if you have a question.

October 21, 2013 - Taipan Resources To Host Investor Conference Call

October 21, 2013, Vancouver, BC – Taipan Resources Inc. (TPN-TSX) ("Taipan" or the "Company") announces that it will host a conference call on Wednesday, October 23, 2013 at 6:00 AM PST to discuss its recently announced farmout agreement with Premier Oil Plc.

Max Birley, Chief Executive Officer and Director of Taipan, will host the conference call.

To attend the call, please use the dial in information below:

Date: Wednesday, October 23rd, 2013
Time: 6:00 AM PST / 9:00 EST / 2:00 BST
North America Local: +1 416-340-2216
North America LD: +1 866-226-1792
International Dial-In: +1 800-9559-6849

Participants are requested to call in at least 10-minutes before the call to ensure timely participation.

There will be a short Q&A session following the farmout discussion.

About Premier Oil plc

Premier Oil plc (LSE:PMO) is a leading FTSE 250 independent exploration and production company with interests in the North Sea, South East Asia, the Middle East, Africa, Pakistan and the Falkland Islands. Its portfolio of producing assets delivered production of 58,600 boepd in the first half of this year, and it has various projects in the development phase which should increase production to over 100,000 boepd in the medium-term. Premier became active in Kenya in 2011 with the signing of two PSCs for offshore exploration blocks L10A and L10B.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

After the farmout, Taipan will hold a 45% working interest in Block 2B (1.35 million acres / 5,464km2). The Company’s 20% working interest in Block 1 (5.497 million acres / 22,246 km2) is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Contact Information:
Max Birley
CEO and Director
Tel: +254 705 643 745
mbirley@taipanresources.com
www.taipanresources.com

Joel Dumaresq
CFO and Director
Tel: +1 604 306 4000
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
+1 604-684-6730 or +1 866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

October 14, 2013 - TAIPAN RESOURCES INC. ANNOUNCES FARMOUT AGREEMENT WITH PREMIER OIL PLC FOR BLOCK 2B ONSHORE KENYA

Nairobi, Kenya – Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN), through its wholly-owned Kenya-based subsidiary Lion Petroleum Corp. (“Lion”) is pleased to announce the signing of a binding farmout agreement with Premier Oil Investments Limited (“Premier”), a subsidiary of Premier Oil plc (LSE: PMO) whereby Premier will acquire a 55% participating interest in Block 2B onshore Kenya. Taipan will retain a 45% interest in Block 2B.

The principal terms of the farmout agreement are as follows:

  • Premier will pay Taipan’s working interest share of the cost of drilling and testing the Pearl-1 prospect and future costs on Block 2B up to a cap of US$ 13.275 million in addition to its working interest share of costs. The total work programme for the First Additional Exploration Period is estimated at $29.5 million.
  • Premier will provide guarantees for the minimum work and expenditure obligations for the First Additional Exploration Period on Block 2B of US$13.0 million.
  • Premier will pay Lion US$1 million as a reimbursement for back costs

Lion will retain operatorship of Block 2B during the exploration phase with Premier having the right to assume operatorship of any development.

Mr. Maxwell Birley CEO commented, “We look forward to working with Premier Oil, a company with a strong track record of exploration and development success. The Pearl-1 exploration well is targeting a Tertiary prospect similar to Tullow’s Ngamia, Twiga and Ekales discoveries. The Company also has multiple prospects similar to Tullow’s Eutko discovery. The Anza Basin is one of the largest Tertiary-age rift-basins of the East African Rift systems that together contain multi-billion barrel oil discoveries. We believe that the ‘sweet spot’ of the Anza Basin is located on Block 2B.”

Completion of the farmout is subject to certain legal conditions, financial audits and other approvals.

About Premier Oil plc

Premier Oil plc (LSE:PMO) is a leading FTSE 250 independent exploration and production company with interests in the North Sea, South East Asia, the Middle East, Africa, Pakistan and the Falkland Islands. Its portfolio of producing assets delivered production of 58,600 boepd in the first half of this year, and it has various projects in the development phase which should increase production to over 100,000 boepd in the medium-term. Premier became active in Kenya in 2011 with the signing of two PSCs for offshore exploration blocks L10A and L10B.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent, Africa-focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.

After the farmout, Taipan will hold a 45% working interest in Block 2B (1.35 million acres / 5,464km2). The Company’s 20% working interest in Block 1 (5.497 million acres / 22,246 km2) is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Contact Information:
Max Birley
Chief Executive Officer
Tel: +254 705 643 745
mbirley@taipanresources.com
www.taipanresources.com

Joel Dumaresq
CFO and Director
Taipan Resources Inc.
Tel: +1 604 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

October 14, 2013 - PREMIER OIL PLC (Farm-in to Block 2B, Onshore Kenya)

PREMIER OIL PLC
(“Premier”)
Farm-in to Block 2B, Onshore Kenya
14 October 2013

Premier is pleased to announce that it has signed the farm-in for 55 per cent of Taipan Resources Inc (“Taipan”) licence interests in Block 2B, onshore Kenya. The block lies in the Southern Anza basin, a Cretaceous rift basin with proven source rock, and contains several prospects and leads. The Pearl prospect with the estimated gross mean prospective resource of 126 million barrels of oil (mmbbls) will be targeted by the initial well. The remaining lead inventory is capable of delivering in excess of 500mmbbls gross.

Under the agreement, Premier will pay Lion Petroleum Corp. (“Lion”), a wholly-owned Kenyan-based subsidiary of Taipan, back costs of US$ 1 million. Premier will also pay Taipan’s working interest share of the cost of drilling and testing the Pearl prospect and future costs on Block 2B up to a cap of US$ 13.275 million. Premier has the option to assume operatorship of any future development on the block.

Completion of the farmout is subject to satisfactory completion of financial audits and confirmation of the terms of the PSC from the Kenyan government.

Simon Lockett, Chief Executive, commented:

“We are delighted to have reached an agreement with Taipan and obtained acreage in the emerging onshore rift plays of East Africa. Rift basins are a core play for Premier and in this instance we have gained access to a play opening opportunity with meaningful follow on potential.”

Enquiries:
Premier Oil plc
Simon Lockett
Tony Durrant
Tel: 020 7730 1111

Pelham Bell Pottinger PR
Gavin Davis
Henry Lerwill
Tel: 020 7861 3232

October 10, 2013 - TAIPAN RESOURCES INC. ANNOUNCES THE APPOINTMENT OF PAUL LOGAN AS EXPLORATION MANAGER

Nairobi, Kenya – Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to announce that the Company has appointed Mr. Paul Logan as Exploration Manager.

Mr. Logan was previously Chief Geologist at Heritage Oil Plc, where he was part of the team that discovered approximately 1.75 billion barrels of oil in Uganda on Blocks 1 and Block 3A in the Albert Basin of Uganda, and over 9 trillion cubic feet of natural gas at the Miran Gas Field in Kurdistan. In Uganda, Block 1 and Block 3A were operated by Heritage Oil Plc and the discoveries included the world-class Kingfisher, Warthog, and Buffalo-Giraffe fields where six discovery wells were drilled between 2006 and 2009 with 100% exploration success. Two of the wells on the Kingfisher Field tested at over 12,000 barrels of oil per day and the Buffalo-Giraffe Field is considered to be the largest onshore oil field to be discovered in Sub-Saharan Africa in more than two decades. In January 2010, Heritage announced the sale of its 50% interest in Blocks 1 and 3A in Uganda by its wholly owned subsidiary, Heritage Oil & Gas Limited, to Tullow Uganda Limited for US$1.45 billion.

Mr. Logan has over 36 years of experience in exploration with British Gas, Getty Oil, Hamilton Oil, BHP Billiton, and Heritage Oil Plc.

Mr. Maxwell Birley commented, "We are very pleased to have Paul joining the Taipan team. Paul's exploration success in Uganda is directly analogous to the Tertiary rift oil prospects that Taipan has on Block 2B and to the existing discoveries to date in Kenya. Paul’s success and experience in Uganda will be invaluable to Taipan as the Company commences its drilling program on Block 2B."

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent Africa focused oil exploration company with interests in 7.43 million gross oil and gas exploration acres (30,054 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9M acres / 7,807 km2) and a 20% working interest in Block 1 (5.5M acres / 22,247 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.

Contact Information:
Joel Dumaresq
Director
Taipan Resources Inc.
Tel: 604-336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

July 19, 2013 - TAIPAN RESOURCES INC. GRANTS STOCK OPTIONS

Vancouver, BC, – Taipan Resources Inc. (the "Company") (TSX VENTURE: TPN) advises that it has granted incentive stock options to certain directors, officers and consultants of the Company, entitling them to purchase up to 1,800,000 common shares of the capital stock in the Company at an exercise price of $0.325 per share for the next 4 years.

The grant is subject to regulatory approval.

On behalf of the Board of Directors
“Joel Dumaresq”
Director

For more information please contact:
Joel Dumaresq
Director
Taipan Resources Inc.
Tel: 604-336-3193
www.taipanresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

May 30, 2013 - TAIPAN ANNOUNCES MANAGEMENT CHANGES & ENTERS INTO CONSULTING AGREEMENT WITH FRONTIER CONSULTING INC.

Nairobi, Kenya – Taipan Resources Inc. ("Taipan" or the "Company") (TSX‐V: TPN) announced that Mr. Andrew Bell has resigned as the Chief Financial Officer (“CFO”) of the Company in order to devote more time to his other ventures.

Mr. Maxwell Birley, Director and Chief Executive Officer stated: “It has been a pleasure working with Andy and we wish to thank him for his contributions to the Company, especially with respect to the smooth transition concerning Taipan’s acquisition of Lion Petroleum Corp. We wish him every success in his future endeavors.

The Company has appointed Mr. Joel Dumaresq, Chairman of Taipan, to be the CFO of the Company.

Mr. Dumaresq has, for the past 15 years, worked as Managing Director of Vancouver, Canada based private equity and merchant banking firm Matrix Partners Inc. Mr. Dumaresq has a background in finance and investment banking and formerly worked for 10 years for RBC Dominion Securities, a division of the Royal Bank of Canada. He has acted in an operating capacity for a range of companies in the mining, forestry and resource space.

The Company also announced that it has entered into an agreement with FronTier Consulting Ltd. (“FronTier”), part of the FronTier Merchant Capital Group of Toronto, Ontario, pursuant to which FronTier will work as a financial market advisor to Taipan by raising awareness for the Company’s stock and private placement opportunities with retail brokers and fund managers (the “Agreement”).

Pursuant to the terms of the Agreement, FronTier will be paid a fee of $4,800 per month for an initial term of 12 months. Commencing February 15, 2014 FronTier will be paid $4,000 per month on a month to month basis. The Agreement is subject to regulatory approval.

About Taipan Resources Inc.
Taipan Resources Inc. (TSX.V:TPN) is an independent African oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

For more information please contact:
Maxwell Birley
CEO
Taipan Resources Inc.
mbirley@taipanresources.com
www.taipanresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward‐looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

May 27, 2013 - TAIPAN TO HOST CONFERENCE CALL TUESDAY, MAY 28

Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to announce that it will be conducting a conference call on its Block 2B prospects in NE Kenya’s Anza Basin. The call will be held on Tuesday, May 28th at 7:00am PST (10:00am EST / 3:00pm BST) and take a closer look at the similarities between Block 2B and the Twiga / Ngamia Discoveries made by Tullow Oil Plc.

Management would like to callers to refer their corporate presentation, which is available here.

Conference Call Details are as follows:

Tuesday May 28th 2013 at 10:00AM EST / 3:00PM BST.
North American Participants Dial: 416-641-6117 or Toll Free 866-223-7781
International Participants Dial: 1-800-6578-9898

The conference call will also be hosted live via Cisco Webex, available for download free of charge at www.webex.com. After downloading the software, a personal link to the presentation can be requested by emailing TPN@kincommunications.com. The Webex presentation will be open 30 minutes before the scheduled start time.

The call will be available for playback afterwards, and can be obtained by contacting Investor Relations at 604-684-6730 or by emailing TPN@kincommunications.com.

About Taipan Resources Inc.
Taipan Resources Inc. (TSX.V:TPN) is an independent African focused oil exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (~1.9M acres / 7,807 km2) and a 20% working interest in Block 1 (~5.5M acres / 22,247 km2) which is operated by Afren plc.

Contact Information:
Maxwell Birley
CEO
Taipan Resources Inc.
mbirley@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

This news release contains forward-looking statements relating to the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan’s expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

May 8, 2013 - TAIPAN RESOURCES INC. SHAREHOLDERS’ LETTER AND OPERATIONAL UPDATE FROM CEO, MAX BIRLEY, NAIROBI KENYA

Taipan Resources Inc. (“Taipan” or the “Company”) (TSX Venture: TPN) is pleased to provide the shareholders’ letter and operational update below from CEO Max Birley, Nairobi Kenya.

Taipan finds its own “string of pearls” on Block 2B

Dear Fellow Shareholder,

It has now been 5 months since I last wrote to you back in November 2012. At that time we had only been in control of the Kenyan assets for 3 months. As we have recently completed the work program for the Initial Exploration Period on Block 2B, I thought it was time to update you on what has been occurring in Kenya from an exploration point of view, and in particular what Taipan Resources has undertaken operationally on our blocks.

We have recently updated our corporate presentation on our website www.taipanresources.com. It can be found under the Investors Information tab. You may wish to refer to it in conjunction with this letter as I try to explain in some detail why we believe that our acreage is indeed a “pearl” of exploration acreage of Kenya.

1.0 Regional Hydrocarbon Update

Tertiary oil now discovered in 3 basins, Albertine, Lokichar and Turkana. The two Tullow Tertiary discoveries in Kenya now confirmed by testing. Twiga has 5,200 bopd (“barrels of oil per day”) potential

As you are aware, in March 2012 Tullow Oil and Africa Oil announced that they had discovered oil in the Tertiary sandstones in the Ngamia-1 well. When I last wrote, they were still drilling the South Twiga exploration well. The South Twiga well was located on a look-a-like structure to the north of the Ngamia well. Both wells are located on what is referred to as the “string of pearls”. This is a series of prospects located on tread with each other associated with the main basin bounding fault. Since then, both wells have been tested and have flowed oil in commercial quantities. South Twiga flowed at a cumulative rate of 2,812 bopd of 37 degrees API oil and has potential, according to Tullow, of 5,200 bopd. Ngamia was recently tested and from one zone has produced 281 bopd of 30 degrees API oil. With five other upper zones still to be tested, these wells already prove that Kenya has a commercial petroleum system.


Figure 1. Shows the location of the recent discoveries and the oil bearing Tertiary basins of Uganda, Kenya and now Ethiopia.

Two further onshore wells drilled by Tullow have good oil shows and extend the trends into the Turkana Basin of Ethiopia and the Anza Basin

The Sabisa exploration well, which is currently being drilled by Tullow in Ethiopia, has reported oil in the Tertiary. This well proves up the northward extension of the Tertiary petroleum system into Ethiopia. This is a very significant well for Taipan as the Turkana basin in Ethiopia is separate from the Lokichar Basin of Kenya and the Albertine Basin of Uganda, and proves that conditions exist in the three basins to produce oil. The distance between the Sabisa and the Ngamia well is approximately 300 kilometers and from the wells of the Albertine Basin approximately 500 kilometers. This demonstrates that these Tertiary petroleum systems exist over regional distances. This has proved to be a very positive sign for the occurrence of oil in the other Tertiary basins in the region particularly the Anza Basin. Tullow has reported oil in the Sabisa well and it is currently being sidetracked due to drilling difficulties.

Taipan’s Block 2B is located at the southern end of the Tertiary Anza Basin. The Anza has all the same play elements found in the other three successful Tertiary basins. The Hothori well, which was drilled in the western portion of Block 2B in 1989 proved 9,500 ft of Tertiary section. Down dip from the well, there is 12,000 to 15,000 ft of Tertiary rocks adjacent to the main bounding fault in a similar structural configuration to the Ngamia, Twiga and Sabisa discoveries.


Figure 2. Shows the similarity between the structures on Block 2B (left panel) and the South Twiga discovery (right panel)

I have enclosed above seismic lines from Twiga South and our block to demonstrate that the same structural elements exist on Block 2B. In the corporate presentation, we refer to the similarity of the structures on Block 2B and Ngamia and Sabisa as well.

I am also enclosing a comparison of equivalent maps in Figure 3 that show the existence of a “string of pearls” of the same order of magnitude present on Block 2B located against the main bounding fault.

Now that oil has been discovered in the Albertine (Uganda), Lokichar (Kenya) and Turkana (Ethiopia) Basins, the likelihood of finding oil in the Tertiary of the Anza Basin has been significantly increased.


Figure 3. Comparison of structures left Block 2B right Tullow Blocks

The Paipai exploration well (Tullow/ AOC) was drilled in the north western end of the Anza Basin where the Tertiary is thin and has little potential, as it is not buried deeply enough. The well was drilled on a large Cretaceous and Jurassic structural prospect. The well encountered 180 ft of sand and reportedly had light oil shows and wet gas shows in the Cretaceous. The Anza Basin is an extension of the prolific oil producing Melut and Muglad basin of South Sudan. The same Cretaceous rocks have been proved to extend at depth into Block 2B, and we do have a series of deeper Cretaceous prospects and leads that will be tested in due course. However, our focus is on the Tertiary fault-bounded prospects discovered so far. The Paipai well could not be tested because of the lack of suitable testing equipment due to high pressures. It is believed that the well will be tested in the future.

Excellent Tertiary source rocks are most likely to be present on Block 2B

It is not enough just to have similar structures, if you are going to find oil. We must also have similar oil-prone source and sealing rocks in the basin. Taipan have now carried out some geochemical studies of the region and has found good evidence that the source rocks that are present in the Lokichar Basin that generated the oils in the Ngamia and Twiga discoveries are of broadly the equivalent age and type to source rocks found to the south of Block 2B. It is thought from the geochemical modeling, that these same source horizons will likely be present and mature for oil around the many drillable structures adjacent to the main basin-bounding fault on Block 2B.


Figure 4. Seismic lines with the results of the 1D geochemical modeling overlain to show that the prospective Miocene Tertiary section is in the oil window on Block 2B.

2.0 Operational Update

What has been achieved since assuming operatorship? “Taipan undertakes 3 years’ work in 8 months”

Block 2B is owned by Taipan’s wholly owned subsidiary, Lion Petroleum Corp. The Block is 7,806 km2, which is equivalent to 1.9 million acres. We are in the final few months of the Initial Exploration Period of the Production Sharing Contract (PSC). This period ends on the 1st June 2013 by which time we will make a 30% relinquishment of the block. The work program and minimum financial expenditure for this period included the acquisition of 400 kilometers of seismic data and the acquisition of a block wide Full Tensor Gradiometry survey (FTG) for a cost of $6.5 million. The work and financial commitments for this period have all been met or exceeded within a very short period of time.

The acquisition of 439 kilometers of 2D seismic data on Block 2B commenced on the 13th of January and was completed on the 13th of March 2013. The cost for the 560 fold data (highest fold data to be acquired to date in Kenya) was $12,500 per kilometer and has set a new benchmark for other companies to follow in terms of cost and data quality. We are very proud that the survey was acquired without any downtime due to local community issues or any recordable HSE incidents. The whole dataset from the crew was fully processed to pre-stack time migrations within 14 days of the last data point being acquired.


Figure 5. Pictures from the 2D seismic survey of a seismic vibrator and up-hole drilling rig.

The 12,713 km “block wide” FTG survey was recorded by ArkeX Ltd. during March and April. Similarly, the data has been processed and interpretations are already ongoing.

Based on the interpretation of the newly acquired data, the board of Taipan has decided to execute the option to enter into the First Additional Exploration Period and extend the PSC for a further 2 years commencing 2nd June 2013. There is a final option to extend the PSC for a further 2 years into the “Second Additional Exploration Period” commencing 2nd June 2015. We have begun early stage well planning and design work, and expect to drill, dependent upon rig availability, an exploration well on Block 2B in early 2014.


Figure 6. FTG survey acquisition plan and processing results

What is going to happen in the near future to add additional value to your company?
“Five wells to be drilled in blocks contiguous or close to Block 2B within the next 9 months”


The next 12-24 months will see several industry players drill blocks in and around Kenya creating much interest and speculation. An overview regional map of the future drilling is included in the Corporate Presentation.

Contiguous to Taipan’s Block 2B, on Block 9 Africa Oil and Marathon Oil plan to drill the Bahasi-1 (Q3 2013) and possibly the Sala-1 prospect, with Tertiary and Cretaceous targets. These are large prospects with most likely gross oil prospective resources of 320 and 402 mmbbls respectively.


Figure 7. Location of the Bahasi and Sala prospects on block 9 and the prospects & leads on Block 2B directly on trend.

Based on wells, gravity, magnetic and seismic data we can see that the Tertiary trends that exist in the Albertine, Lokichar and Turkana Basins extend onto Block 9 and the potentially most-prospective part of this Tertiary basin occurs in Block 2B.

We believe that the “sweet spot” of the Anza Basin with its own “string of pearls” is located on our block. It is denoted by the purple outline color in Figure 8.

Vanoil, which operates Block 3A and Block 3B contiguous to the south of Block 2B, has a commitment to drill 2 exploration wells in 2013. Drilling is due to commence on the first well in July this year, and both wells should take 5 months to drill. Based on our understanding of the blocks, the prospects are mainly Cretaceous in age as the Tertiary is not deep enough on Block 3A and Block 3B to be mature for oil generation. You can see from Figure 4, that the blue color that indicates Tertiary sediments is replaced by the greens of the Cretaceous sediments on Block 3A.

NewAge will drill the 2,300m El Kuran appraisal well in June 2013. The well, which is located in Ethiopia, is approximately 100 kms from the north-eastern boundary of Block 1 in which Taipan has a 20% interest. This well is expected to take 45 days to drill. The Jurassic carbonate reef play has a prospective resource estimate of 1.3 billion barrels of oil.

Afren also has a commitment to drill in Block 1 (north of Block 2B) and the well will be spudded in 2014 at the latest.


Figure 8. Gravity map of the Anza Basin.

Expected Increase in Block 2B estimate of Prospective Resources

Sproule, in their (NI 51-101) report dated October 2012, certified that there were 328 million barrels of unrisked prospective resources on Block 2B. Based on the new seismic and FTG gravity data, management is expecting this estimate to be upwardly revised. We expect the new resource certification to be issued by July-August of this year.

Block 1 Summary

Taipan has a 20% interest Block 1. Afren, the operator of Block 1, completed the acquisition of 1,900 kms of seismic data with BGP in early 2013. The data is being processed and interpreted prior to selecting a drilling location.

3.0 Commercial Update

Farm-out of Block 2B

In October last year, we commenced a farm-out process for Taipan’s 100% interest in the wholly-owned Block 2B. As previously stated, we plan to farm out up to 50% of our interest in the block. The aim is to bring in an industry partner that will be expected to take an active technical interest to the work, in addition to carrying our costs through the exploration work program going forward. All we can say at this time is that we are currently engaged in various levels of discussion with a number of potential farm-in partners, and we expect to announce a definitive farm-out agreement during Q2, 2013.

$3.0 million private placement

On the 31st of January Taipan announced that it was going to the market to raise $3.0 million to fund existing operations. The raise was subsequently oversubscribed and by late February we had secured approximately $3.5 million. Not only did we broaden our shareholder base, but we also attracted into Taipan some new institutional investors. Taipan’s management bought 21% of the financing.

Catalysts for value creation for the remainder of the year

As I have earlier discussed, we believe Block 2B to be highly prospective acreage. The fact that oil in commercial quantities has been discovered in the Albertine and Lokichar Tertiary Basins, and that oil has also been discovered in the Turkana Basin, has significantly increased the chances of a major oil strike in the Tertiary part of the Anza Basin.

As part of our journey to prove this, we are going to see the following value adding activities occur in the near future. These include:

  • Entering into the First Additional Exploration phase of the PSC (additional 2 years)
  • Re-certification and increase to Taipan’s resource estimate on Block 2B
  • Farm-out of Block 2B
  • Drilling of 5 high impact exploration wells on acreage contiguous or close to Taipan’s Blocks.
  • Drilling of an exploration well on “an Ngamia, Twiga, Sabisa look-alike” prospect on Block 2B


We will continue to keep you updated on our progress, and also invite you to visit Taipan’s website for news on developments relating to the Company throughout East Africa.

Finally, we wish to thank you for the confidence you have entrusted in the Taipan Management Team and Board of Directors, and assure you of our commitment to responsibly building sustainable shareholder value.

Sincerely,

Maxwell Birley
Chief Executive Officer
mbirley@taipanresources.com
+254 705 643 745

Contact Information:
Joel Dumaresq
Director
Taipan Resources Inc.
(604) 336-3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

This news release contains forward-looking statements relating to the timing and completion of a farm out for Block 2B, the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of a farm out for Block 2B and the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan’s expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

April 18, 2013 - Taipan Resources Inc. Announces Completion of FTG Survey on Block 2B Onshore Kenya

Nairobi, Kenya – Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to announce that the block wide full tensor gradiometry survey (FTG) on Block 2B in Kenya has been completed.

With the completion of the FTG survey and recent 439 km 2D seismic survey, Taipan has completed the work program for the Initial Exploration Period on Block 2B. The First Additional Exploration Period for Block 2B commences on June 2, 2013 with a term of two years.

Mr. Maxwell Birley CEO commented, “The initial results of the 2D seismic and FTG data acquired on Block 2B look very encouraging. The Anza Basin is one of the largest Tertiary-age rift-basins of the East African Rift system which contains multi-billion barrel oil discoveries. We continue to believe based on gravity, magnetic and seismic data that the most attractive area of the Anza Basin is located on Block 2B. Recent proprietary geochemistry work completed by Taipan also demonstrates that there is excellent quality Tertiary oil-prone source rock present in the Anza Basin in the region of Block 2B.”

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent African oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

Contact Information:
Maxwell Birley
CEO
Taipan Resources Inc.
mbirley@taipanresources.com
www.taipanresources.com

Joel Dumaresq
CFO
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

This news release contains forward-looking statements relating to the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan’s expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

March 20, 2013 - Taipan Resources Inc. Announces Completion of 2D Seismic Data Survey & Commences FTG Survey

Nairobi, Kenya – Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to announce that 439 km of 2D seismic data has been acquired for Block 2B, onshore Kenya, by the 13th March 2013, above the commitment of 400 km. The BGP seismic crew has been demobilized and is expected to return to the area later on in the year to acquire additional 2D seismic data.

Taipan Resources Inc. is also pleased to announce that the FTG survey being acquired by ARKeX on Block 2B commenced on March 13th, 2013. The FTG survey is expected to be completed in April 2013 and is the last work required to complete the committed work program on Block 2B during the Initial Exploration Period. On completion of the Initial Exploration Period, Taipan expects to enter the First Additional Exploration Period which has a term of two years.

Taipan expects to drill its first well on Block 2B in early 2014.

Mr. Maxwell Birley CEO commented, “The Anza Basin is one of the largest Tertiary-age rift-basins of the East African Rift system which contains multi-billion barrel oil discoveries. We continue to believe based on existing gravity, magnetic and seismic data that the most attractive area of the Anza Basin is located on Block 2B. Recent proprietary geochemistry work completed by Taipan also demonstrates that there is excellent quality Tertiary oil-prone source rock present in the Anza Basin in the region of Block 2B. Initial stack 2D seismic data on Block 2B also looks very encouraging.”

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent African oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

Contact Information:
Maxwell Birley
CEO
Taipan Resources Inc.
mbirley@taipanresources.com
www.taipanresources.com

Adam Zive
Director
azive@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

This news release contains forward-looking statements relating to the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan’s expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

February 13, 2013 - Taipan Resources Inc. Announces Closing of Private Placement

Nairobi, Kenya – Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to announce that the Company has completed a non-brokered private placement for gross proceeds of approximately $3,107,450 through the issuance of 8,878,425 units (the “Units”) at a price of $0.35 per Unit (the “Private Placement”). Each Unit consists of one common share and one warrant exercisable into an additional common share at a price of $0.50 for a period of five years. Management of Taipan subscribed for approximately 20% of the Private Placement.

The Company intends to use the net proceeds of the Private Placement for exploration expenditures and working capital requirements. The Company may pay finders’ fees on all or a portion of the Private Placement. All securities issued pursuant to the Private Placement are subject to a statutory hold period expiring on June 14, 2013.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent African oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

Contact Information:
Adam Zive
Director
Taipan Resources Inc.
azive@taipanresources.com
www.taipanresources.com

Joel Dumaresq
Director
(604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

January 31, 2013 - Taipan Resources Inc. Announces $3,000,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2013) -  Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) is pleased to announce that the Company is proceeding with a non-brokered private placement to raise up to $3,000,000 through the issuance of up to 8,571,428 units ("Units") at a price of $0.35 per Unit. Each Unit will consist of one common share of the Company and one transferable share purchase warrant, with each warrant entitling the holder to purchase an additional common share of the Company for a period of five years at an exercise price of $0.50. All securities issued pursuant to the private placement will be subject to a statutory hold period of four months and one day.

Management of Taipan intends to subscribe for ten percent or more of the offering.

The Company may pay a finder's fee on all or a portion of the private placement. The Company intends to use the proceeds from the private placement for exploration expenditures and for general working capital purposes.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent African oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

Contact Information:
Joel Dumaresq
Director
(604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

This news release contains forward-looking statements relating to the timing and completion of the private placement and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the completion of the private placement are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan's expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

January 22, 2013 - Taipan Resources Inc. Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2013) -  Taipan Resources Inc. (the "Company") (TSX VENTURE:TPN) advises that it has granted incentive stock options to certain directors, officers and consultants of the Company, entitling them to purchase up to 5,550,000 common shares of the capital stock in the Company at an exercise price of $0.325 per share for the next 4 years.

The grant is subject to regulatory approval.

On behalf of the Board of Directors
Joel Dumaresq, Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:
Taipan Resources Inc.
Joel Dumaresq
604-336-3193

January 17, 2013 - TAIPAN RESOURCES INC. ANNOUNCES COMMENCEMENT OF 2D SEISMIC DATA RECORDING

Nairobi, Kenya – January 17, 2013 - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to announce that 2D seismic data recording commenced on Block 2B onshore Kenya on January 13th, 2013.

As previously announced, Taipan’s wholly owned subsidiary Lion Petroleum Corp. awarded a contract to BGP to acquire the 2D seismic data on the 15th of November 2012. BGP mobilized its crew number 8638 E and started camp construction on the 29th of November 2012. A number of sensitization meetings have also been held with the local community in regards to the 2D seismic survey on Block 2B.

Line surveying of Block 2B commenced on the 28th of December 2012 and recording of 2D seismic data commenced on the 13th of January 2013. Taipan expects to acquire a minimum of 400 kilometers of 2D seismic data during Q1 2013. The data from the survey will be processed and interpreted, in conjunction with the FTG survey and existing data, to determine the location of Taipan’s first exploration well on Block 2B. Taipan expects to drill its first well on Block 2B in late 2013 or early 2014.

Mr. Maxwell Birley CEO commented, “The Anza Basin is one of the largest Tertiary-age rift-basins of the East African Rift system which contains multi-billion barrel oil discoveries. We continue to believe based on existing gravity, magnetic and seismic data that the ‘sweet spot’ of the Anza Basin is located on Block 2B. Recent proprietary geochemistry work completed by Taipan also demonstrates that there is excellent quality Tertiary oil-prone source rock present in the Anza Basin in the region of Block 2B. Initial stack 2D seismic data on Block 2B also looks very encouraging.”

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent African oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

Contact Information:
Adam Zive
Director
Taipan Resources Inc.
azive@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

This news release contains forward-looking statements relating to the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan’s expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

January 10, 2013 - TAIPAN RESOURCES INC. ANNOUNCES AWARD OF FULL TENSOR GRAVITY SURVEY TO ARKEX LTD.

Nairobi, Kenya – January 10, 2013 - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to announce that it has contracted ARKeX Ltd, to undertake an 11,750 km Full Tensor Gravity Gradiometry survey (FTG) over Block 2B onshore Kenya. The survey, which will also acquire magnetic data, is expected to commence in late January and to be completed in February 2013.

The award of the FTG survey to ARKeX Ltd. is the last contract required to complete the work program on Block 2B during the Initial Exploration Period. On completion of the Initial Exploration Period, Taipan expects to enter the First Additional Exploration Period and to drill an exploration well on Block 2B in late 2013 or early 2014. The First Additional Exploration Period has a term of two years.

Mr. Maxwell Birley CEO commented, “The Anza Basin is one of the largest Tertiary-age rift-basins of the East African Rift system which contains multi-billion barrel oil discoveries. We continue to believe based on existing gravity, magnetic and seismic data that the ‘sweet spot’ of the Anza Basin is located on Block 2B. Recent proprietary geochemistry work completed by Taipan also demonstrates that there is excellent quality Tertiary oil-prone source rock present in the Anza Basin in the region of Block 2B.”

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent African oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

About ARKeX Ltd.

ARKeX is a provider of non-seismic geophysical imaging services for the oil & gas exploration industries. It specialises in the acquisition of multi-client and proprietary Full Tensor Gravity Gradiometry (FTG) data. FTG surveys measure minute variations in the earth's gravitational field to help image subsurface structures. FTG has a much higher bandwidth and delivers a higher resolution image than conventional gravity surveys. It can be used as a stand alone service or in conjunction with seismic data. ARKeX can also process and interpret conventional gravity and magnetic data as well as brokering multi-client non-seismic data. Based in Cambridge, UK, ARKeX has offices in Sherington, UK, and Houston, USA, and has global operational capabilities. www.arkex.com

Contact Information:
Adam Zive
Director
Taipan Resources Inc.
azive@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

This news release contains forward-looking statements relating to the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan’s expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

November 22, 2012 - TAIPAN RESOURCES INC. ANNOUNCES 2D SEISMIC ACQUISITION TO COMMENCE IN JANUARY

Nairobi, Kenya – Nov. 22, 2012 - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE: TPN) is pleased to provide the following update regarding the 2D seismic acquisition program on Block 2B onshore Kenya.

Taipan has a contract with BGP (Bureau of Geophysical Prospecting of China) to acquire up to 800 kilometers of seismic data over Block 2B in North Eastern Kenya. BGP has begun mobilizing their seismic crew and plans to commence recording in January 2013. Taipan expects the 2D seismic acquisition to be completed by the end of Q1 2013.

BGP is one of the world’s leading geophysical service companies. BGP currently has five seismic crews working in Kenya and has completed a number of other seismic surveys surrounding Block 2B earlier this year. BGP is also currently shooting seismic on Block 1 in Kenya where Taipan owns a 20% interest.

Mr. Maxwell Birley CEO commented, “Taipan’s recent proprietary technical work is demonstrating that the Anza Basin is likely to be one of the largest Tertiary-age rift-basins of the East African Rift system which contains multi-billion barrel oil discoveries. Based on gravity, magnetic and seismic data we believe that the ‘sweet spot’ of the Anza Basin is located on Block 2B.”

About Taipan Resources Inc.

Taipan Resources Inc. (TSX.V:TPN) is an independent African oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

About BGP

BGP is a subsidiary of CNPC and is one of the worlds leading geophysical service companies, delivering a wide range of technologies, services and equipment to the oil and gas industry worldwide. BGP is engaged in seismic data acquisition, processing, interpretation, reservoir geophysics, borehole seismic, micro-seismic, GME and multi-client surveys, equipment manufacturing and software R&D.

Contact Information:
Joel Dumaresq
Taipan Resources Inc.
Director
(604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

This news release contains forward-looking statements relating to the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan’s expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

November 13, 2012 - Taipan Resources Inc. Announces Board Appointment of Mr. Maxwell Birley

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) is pleased to announce the addition of Maxwell Birley to the Board of Directors of Taipan Resources Inc.

Mr. Charles Watson commented, "We are pleased to welcome Mr. Birley to the board of Taipan Resources. Since his appointment as CEO in July, Mr. Birley has delivered several key milestones for Taipan and has shown a strong commitment to the Company including relocating to Nairobi."

Maxwell Birley has over 30 years experience in the oil and gas industry including senior roles with Marathon Oil, Premier Oil, and Oil Search Limited and in-country operating experience in Equatorial Guinea, Pakistan, Yemen, and India. Mr. Birley has a geological geophysical degree and is an Explorationist by training. Throughout his career, Mr. Birley has been directly involved in the discovery of over 1.75 billion barrels of oil equivalent. He has also been responsible for negotiating numerous farm-out and farm-in agreements and acquisitions, and for managing and developing multi-billion dollar oil and gas assets in Africa.

Mr. Mike Devji has accordingly stepped down as a Director of the Company.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent Africa oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan's total mean net unrisked prospective resources on the Blocks are estimated to be 530 million barrels of oil equivalent. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:
Taipan Resources Inc.
Joel Dumaresq
Director
(604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

November 7, 2012 - Shareholder's Letter - An Operational Update from CEO, Max Birley

An Operational Update from CEO, Max Birley - (Download the Full Letter in PDF Format).

Dear Shareholder,

Since closing Taipan’s first major round of financing ($11.5 million) and the amalgamation with Lion Petroleum in July, we have worked steadily to move the company and its assets in Kenya forward. As the fourth largest gross acreage holder in Kenya we have been quite busy. Below, I enclose a brief summary of what has been happening in the Kenyan oil industry and an update of our operational activities in the country.

In order to facilitate the exploration and development of our two Blocks in Kenya, I have moved my home and family to Nairobi. Relative to other frontier markets in which I have lived, worked and discovered hydrocarbons, Kenya is an easy and friendly place to conduct business. It is also a very exciting time in the Kenyan oil business with very high levels of both commercial and drilling activity post the first major oil discovery in Kenya in March. Kenya is now widely regarded in the industry as the “hottest” place for onshore oil exploration.

Taipan Resources has also engaged two key senior Kenyan nationals to provide the essential local experience and input to operational decisions. This includes Mr Daniel Ngenoh, a geophysicist who was previously the head of the Kenyan National Oil Company and Mr. Hari Ndugu, who is now overseeing Community Relations for the upcoming seismic survey on Block 2B. Both individuals are highly experienced in Kenya and have previous experience with our Blocks. Mr. Daniel Ngenoh has undertaken a significant amount of technical work on Block 1 and Block 2B, while Mr Hari Ndugu worked for many years with the Ministry of Environment and has undertaken many site visits to the Block 2B area.

As you are likely aware, in March Tullow Oil and Africa Oil announced that they had discovered oil in the Tertiary sandstones in the Ngamia-1 well. This well has created tremendous interest in Kenya since the announcement. As a follow on, Tullow are currently drilling a similar Tertiary exploration target to the north of the Ngamia well named Twiga South-1. Although the well is not expected to reach its total depth until later this month, Tullow distributed a press release on the 31st October 2012 declaring that oil has been encountered in the well. Clearly this will continue to generate much interest and excitement as Tullow and its partner Africa Oil share further results later this month on this promising new discovery.

The Tertiary oil discoveries that have been made by Tullow and Africa Oil are highly relevant to the exploration efforts of Taipan, as we have more than 3,150 metres of the same age and type of rocks occurring on Block 2B where we hold a 100% interest.

Tullow also recently commenced the drilling of the Pai Pai exploration well. The well will be drilled to reach total depth at around 4,112 meters and is expected to test Cretaceous and Jurassic objectives.

While our primary objective on Block 2B is oil in the Tertiary, the Pai Pai well is on-trend with additional Cretaceous and Jurassic plays that also exist on Taipan’s Block 2B. The results of the Pai Pai well are expected towards the end of the year.

Contiguous to Taipan’s Block 2B, on Block 9 Africa Oil and Marathon Oil plan to drill the Kinyonga Prospect, with Tertiary and Cretaceous targets, in the second half of 2013. This is a large prospect with a Gross Oil Prospective Resources (unrisked) Best Estimate of 320 mmbbls. Based on gravity, magnetic, and seismic data we can see that the Tertiary trend on Block 9 extends into Block 2B and we believe that the “sweet spot” of the basin is located on our block.

     Figure 1: Location of discoveries and wells drilling or to be drilled in Kenya in the next 18 months

Operational Update

Block 2B is currently 100% owned by Taipan’s wholly owned subsidiary Lion Petroleum. Block 2B is 7,800 km2, which is equivalent to 1.9 million acres. We are currently in the Initial Exploration Period of the Production Sharing Contract (PSC) which ends on the 1st June 2013. We have the option to extend the exploration term of the PSC for a further 2 periods of 2 years (total of 4 years). The work program and expenditure up until the 1st June 2013 includes the acquisition of 400 kilometers of seismic data and the acquisition of a block wide Full Tensor Gradiometry survey (FTG).

We expect to begin the acquisition of 400 kilometers of seismic data for Block 2B in December of this year and early in 2013 we will also acquire the FTG survey. The total expenditure for the work program up to the 1st June 2103 will be $6.5 million. Concurrent with the interpretation of the seismic and FTG data, we expect to begin our well planning and design work and expect to drill an exploration well on Block 2B in the second half of 2013.

We have also now completed an in-depth technical review of Block 2B which has exceeded our original expectations. Management believes that the resource estimates previously prepared by independent petroleum consultants Sproule for Block 2B are conservative. We expect to provide an update to our resource estimates in the first half of next year after the seismic and gravity work has been integrated. It should also be noted that the current resource estimates for Block 2B were prepared prior to the oil discoveries that have occurred this year in Kenya.

During the month of October we arranged a 20 day site visit to Block 2B to meet senior government officials and tribal elders to begin the process of pre-survey community awareness. Two public meetings were held to explain the work that will be undertaken and to take onboard the concerns of the local community. Further sensitization meetings will take place before the seismic survey commences.

     Figure 2. Left: Part of the crowd attending the sensitization Baraza at Sericho area
     Right: Taipan’s Community relations team having their photos taken on Block 2B

On Block 1 where Taipan holds a 20% interest in a 40,000 km2 block (7.8 million acres), BGP the Chinese Bureau of Geophysical Prospecting, have acquired 1,300 kilometers of the planned 1,800 kilometer seismic survey. The survey is expected to be completed in January 2013.

Commercial Update

In September we commenced a farmout process for Taipan’s wholly-owned Block 2B. The aim is to bring in a partner that will be expected to add technical input to the work on the block in addition to carrying our costs through the exploration work program. We are currently engaged in various levels of discussion with a number of potential farm-in partners. We plan to farm out up to 50% of our interest in the block and expect the farm-out process to be concluded by the end of this year.

We have also been encouraged by the high level of recent commercial activity in both Kenya and the surrounding region, and in particular by the farm-in on Block 9 which is contiguous to Taipan’s Block 2B. Commercial activity has included the Marathon farm-in into Africa Oil’s interests in Blocks 9 (50%) and 12A (15%) for $57 million that closed in October, and the purchase from Agriterra also by Marathon of its 20% interest in the South Omo Block in Ethiopia for a total of $50 million also in October. In addition, in September Bowleven farmed into Adamantines’ Block 11B to acquire a 50% interest for funding the next $10 million of seismic work. All of this activity demonstrates the sizable interest in the Kenyan hydrocarbon arena.

Investor communication is very important to the Taipan Board and Management Team. In order to educate investors of the attractiveness of Taipan’s acreage position and to clarify the upcoming work program and expected farm-out, throughout October we held more than 50 investor and analyst meetings across the UK, Ireland, Canada and the USA.

We will continue to keep you updated on our progress and also suggest you visit Taipan’s recently refurbished website (www.taipanresources.com) for news on developments with the Company and throughout east Africa.

Finally, we wish to thank you for the confidence you have entrusted in the Taipan Board and Management Team, and assure you of our commitment to building sustainable shareholder value.

Warm regards,

Maxwell Birley
Chief Executive Officer

September 24, 2012 - Taipan Resources Engages Investor Relations Firm Kin Communications Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) is pleased to announce that the Company has engaged Kin Communications Inc. ("Kin") to provide investor relations services.

Kin will be paid a monthly fee of $7,500 for an initial term of 12 months and will be granted 500,000 stock options of the Company, exercisable at 50 cents per share. The options will vest at a rate of 25% per quarter from date of the grant and are exercisable for a period of 5 years. The Agreement and the grant of options pursuant to the Agreement are subject to regulatory approval.

Other than the 500,000 options to be granted under the terms of the agreement, the Company has been advised that neither Kin Communications nor its principals beneficially own or control any securities of Taipan.

About Taipan Resources Inc.

Taipan Resources Inc. (TSX VENTURE:TPN) is an independent Africa oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan's total mean net unrisked prospective resources on the Blocks are estimated to be 530 million barrels of oil equivalent. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

About Kin Communications Inc.

Kin Communications is one of Canada's leading full-service investor relations firms specialized in the resource industry. Kin has a proven track record of generating interest in their clients, building an active shareholder base, and solidifying communications that differentiates clients from their peers. Having worked with several of the TSX's top performers, Kin will assist Taipan in increasing public awareness by managing the Company's corporate communications, marketing endeavors, and ongoing engagement with shareholders, finance professionals, and media contacts.

The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:
Joel Dumaresq
Taipan Resources Inc.
Director
(604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

For Investor Relations Contact:
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
TPN@kincommunications.com
www.kincommunications.com

September 13, 2012 - Taipan Resources Inc. Announces Board Appointment of Mr. Adam Zive

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2012) - Taipan Resources Inc. ( "Taipan" or the "Company") (TPN.V) is pleased to announce the addition of Adam Zive to the Board of Directors of Taipan Resources Inc.

Mr. Zive brings significant international investment banking experience with Credit Suisse, Renaissance Capital, and HSBC, in London, New York, Hong Kong SAR, Lagos, and Toronto. Mr. Zive has spent his career focused on investment opportunities and transactions in the global oil and gas industry and was the former Head of Oil & Gas Research Africa at Renaissance Capital. Mr. Zive has made numerous television appearances including on CNBC Africa, has been quoted in such international publications as Forbes Magazine and Barrons, and was previously ranked Superleague Analyst by Brendan Wood International.

Mr. Charles Watson commented, "Mr. Zive's combination of in-depth knowledge of the financial markets, corporate transactions, and the global and African oil and gas industry, will be invaluable in optimizing Taipan's strategic options during the next phases of the Company's development."

Mr. Stephen Jackson has accordingly stepped down as a Director of the Company.

About Taipan Resources Inc.

Taipan Resources Inc. (TPN.V) is an independent Africa oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan's total mean net unrisked prospective resources on the Blocks are estimated to be 530 million barrels of oil equivalent. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward-looking statements.

This news release contains forward-looking statements relating to the timing and completion of a farm out for Block 2B, the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of a farm out for Block 2B and the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan's expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:
Joel Dumaresq
Taipan Resources Inc.
Director
(604) 336 3193
jdumaresq@taipanresources.com
www.taipanresources.com

September 11, 2012 - Taipan Resources Inc. Announces Block 2B Onshore Kenya Farmout Discussions

September 11, 2012 - Taipan Resources Inc. Announces Block 2B Onshore Kenya Farmout Discussions and Block 1 and Block 2B Onshore Kenya Update

  • Block 2B farm-out process expected to result in a definitive farm-out agreement by year-end
  • Significant industry interest in the Block 2B farm-out post the Tullow and Africa Oil Ngamia-1 discovery onshore Kenya and the $78.5 million Marathon Oil farm-in that is contiguous to and on-trend with Block 2B
  • Block 2B 2D seismic acquisition expected to begin in November with seismic contractor BGP
  • Block 1 2D seismic program continues with approximately 1,000 km of seismic data acquired to date
  • Block 1 Operator Afren plc exercised its option to increase its interest in Block 1 from 50% to 80% in exchange for carrying Taipan through 1,200km of the 2D seismic acquisition


  • Mr. Maxwell Birley, Chief Executive Officer of Taipan commented, "There is a significant amount of industry interest regarding farming-in to Block 2B, particularly since the announcement of the Marathon Oil farm-in on Block 9 which is contiguous to the western boundary of Block 2B. Based on gravity, magnetic, and seismic data we can see that the Tertiary trend on Block 9 extends into our Block 2B and we expect to conclude a farm-in agreement by year-end. Operationally, Taipan's activities on Block 2B will commence shortly and we expect seismic acquisition on Block 1 to be completed in Q4."

    BLOCK 2B (1.9 MILLION ACRES / 7,807 km2) ONSHORE KENYA FARMOUT PROCESS AND OPERATIONAL UPDATE

    Taipan commenced a farm-out process for Block 2B onshore Kenya in August 2012. The Company is currently in discussions with a number of potential farm-in partners and expects to announce a definitive farm-out agreement by year-end 2012 subject to the approval of the Government of Kenya.

    Block 2B is currently 100% owned by Taipan's wholly owned subsidiary Lion Petroleum Corp. The western boundary of Block 2B is fully contiguous to Block 9 onshore Kenya where Marathon Oil recently farmed-in to Africa Oil's interest for total consideration of $78.5 million for a 50% interest in Block 9 and a 15% interest in Block 12A.

    Taipan is also pleased to announce that the Company expects to sign a 2D seismic contract for Block 2B with seismic contractor BGP and to mobilize the seismic crew in November 2012 subject to weather conditions and approval of the Kenyan Government.

    Block 2B is located at the southernmost extension of the northwest-southeast trending Anza Graben, near the juncture with both the Mandera-Lugh and Mochesa Basins. The Block contains both Tertiary and Cretaceous plays. The Tertiary plays are analogous to the Tullow Oil plc and Africa Oil Corporation Ngamia-1 discovery located in the main Tertiary rift to the west. The Cretaceous plays are a potential extension of the Sudanese oil-productive Melut and Muglad basins. The NI 51-101 report completed by Sproule Associates Limited concludes that Block 2B has a mean of 387 million barrels of oil equivalent of unrisked prospective resources within the 17 exploration leads identified thus far.

    BLOCK 1 ONSHORE KENYA (7.8 MILLION ACRES / 31,781 km2) OPERATIONAL UPDATE

    Afren plc elected to exercise its option to increase its interest in Block 1 onshore Kenya from 50% to 80% during April 2012, subject to customary government approvals. In exchange, Taipan will receive a carry through 1,200 km of the planned 1,800 km of ongoing 2D seismic acquisition. Afren plc is the operator of Block 1. Taipan's wholly owned subsidiary Lion Petroleum Corp. owns a 20% interest in Block 1.

    As at September 5th, 2012, approximately 1,000 km of 2D seismic has been acquired on Block 1. In addition, the operator has also acquired 10,696 km of airborne gravity and magnetic data on Block 1.

    Block 1 is located in northeast Kenya contiguous with the borders of Ethiopia and Somalia. The presence of an active petroleum system in the area of Block 1 is clearly demonstrated by the Tarbaj oil seep located on the southwest portion of Block 1. The northern portion of Block 1 is an extension of the Ogaden basin that in Ethiopia contains approximately 4 trillion cubic feet of natural gas resources. The prospective sections in Block 1 are expected to be oil prone as demonstrated by the Genale oil seep and the El Kuran light oil discovery in Ethiopia. Based on current data, the partners estimate gross prospective resources on Block 1 to be 715 million barrels of oil equivalent.

    Taipan Resources also announces that following the previously announced completion of the amalgamation of Taipan Resources Inc. and Lion Petroleum Corp. on July 17, 2012 and the appointment of Maxwell Birley as Chief Executive Officer of Taipan Resources on July 31, 2012. Mr. Alec Robinson has resigned as an officer and President of the Company in order to pursue other opportunities. Mr. Robinson will continue working closely with Mr. Birley for an interim period, in order to ensure an effective and seamless transfer of responsibilities.

    About Taipan Resources Inc.

    Taipan Resources Inc. (TPN.V) is an independent Africa oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan's total mean net unrisked prospective resources on the Blocks are estimated to be 530 million barrels of oil equivalent. Taipan is traded on the TSX Venture Exchange with the symbol TPN. Taipan currently has 74,662,991 common shares outstanding.

    The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward-looking statements.

    This news release contains forward-looking statements relating to the timing and completion of a farm out for Block 2B, the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of a farm out for Block 2B and the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan's expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.

    The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contact Information:
    Joel Dumaresq
    Taipan Resources Inc.
    Director
    (604) 336 3193
    jdumaresq@taipanresources.com
    www.taipanresources.com

    July 31, 2012 - Taipan Resources Inc. Announces the Appointment of Maxwell Birley as Chief Executive Officer.

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 31, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TPN.V) is pleased to announce the appointment of Maxwell Birley as Chief Executive Officer effective immediately.

    Maxwell Birley has over 30 years experience in the oil and gas industry including senior roles with Marathon Oil, Premier Oil, and Oil Search Limited and in-country operating experience in Equatorial Guinea, Pakistan, Yemen, and India. Mr. Birley has a geological geophysical degree and is an Explorationist by training. Throughout his career, Mr. Birley has been directly involved in the discovery of over 1.75 billion barrels of oil equivalent. He has also been responsible for negotiating numerous farm-out and farm-in agreements and acquisitions, and for managing and developing multi-billion dollar oil and gas assets in Africa.

    Mr. Charles Watson commented, "We are very pleased to have Maxwell joining the Taipan team. Maxwell's experience in Africa and the combination of his extensive exploration success and commercial acumen, will be invaluable in managing the exploration program and optimizing Taipan's strategic options during the next phases of the company's development."

    Mr. Stephen Jackson has accordingly stepped down as an officer of the Company but will remain as a Director.

    About Taipan Resources Inc.

    Taipan is an oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres in Block 1 and Block 2B onshore Kenya. Taipan currently holds a 20% working interest in Block 1 (7.8 million acres gross) which is operated by Afren Plc, and a 100% working interest in Block 2B (1.9 million acres). Taipan's total net unrisked prospective resources on the Blocks are 528 million barrels of oil equivalent based upon the NI 51-101 report prepared by Sproule Associates Limited and Afren Plc management estimates. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

    The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contacts

    Joel Dumaresq
    Taipan Resources Inc.
    Director
    +1 604 336 3193

    July 24, 2012 - Reverse Takeover Completed, Non Brokered Private Placement.

    T62 CN: Reverse Takeover Completed, Non Brokered Private Placement 
    2012-07-24 21:31:38.395 GMT

    TAIPAN RESOURCES INC. ("TPN")
    - Reverse Takeover-Completed, Non-Brokered Private Placement,
    - Resume Trading

    TSX Venture Tier 2 Company

    The common shares of the Taipan Resources Inc. (the "Company") have been halted from trading since June 28, 2012, pending completion of a Reverse Take-Over.

    The TSX Venture Exchange (the "Exchange") has accepted for filing the Company's Reverse Take-Over ("RTO"), described in its filing statement ("Filing Statement") dated July 11, 2012.  The RTO includes the following matters, all of which have been accepted by the Exchange:

    1.     Reverse Takeover:

    The Company entered into an amalgamation agreement (the "Agreement") dated June 13, 2012 between the Company, 0942929 B.C. Ltd. (the Company's wholly-owned subsidiary, hereinafter referred to as "Newco"), and Lion Petroleum Corp. (a privately held B.C. company, hereinafter referred to as the "Target"), pursuant to which: (i) the Target and Newco will amalgamate to form Amalco; (ii) the Company will issue 20,124,817 common shares to the shareholders of the Target; and (iii) the Company will acquire all of the issued and outstanding Amalco shares. Upon completion of the RTO, Amalco will be a wholly-owned subsidiary of the Company.

    Insider / Pro Group Participation:  None. At the time the transaction was agreed to, the Company was at arm's length to the Target.

    The Exchange has been advised that the above transactions, approved by the majority of shareholders via consent resolutions on July 16, 2012, have been completed.

    For further information on the RTO, please read the Company's Filing Statement available on SEDAR.

    2.     Private Placement-Non-Brokered:

    The Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement originally announced on May 31, 2012, as amended by the a news release dated July 3, 2012:

    Number of Shares:     23,000,400 shares

    Purchase Price:     $0.50 per share

    Warrants:     23,000,400 share purchase warrants to purchase 23,000,400
    shares

    Warrant Exercise Price:     $0.60 for a five year period

    Number of Placees:     73 placees

    Insider / Pro Group Participation:
    Insider=Y /
    Name               ProGroup=P /      # of Shares
    David Hamilton-Smith        P     10,000
    Gary Winters                P     24,000
    David Lyall                 P     250,000
    John Rybinski               P     50,000
    Shenaz Devji                P     200,000
    Pashleth Investment Ltd.
    (Joel Dumaresq)            Y     156,000

    Finders' Fees:     $28,000 and 56,000 warrants (Finder"s Warrant") payable
    to Mauris Financial Corp.;
    $210,000 and 420,000 Finder's Warrants payable to Renaissance Capital;
    $91,000 and 182,000 Finder's Warrants payable to Macquarie Private Wealth Inc.;
    $3,500 and 7,000 Finder's Warrants payable to Union Securities Ltd.;
    $3,920 and 7,840 Finder's Warrants payable to Dolmen Securities Limited;
    $7,000 and 14,000 Finder's Warrants payable to Prominex Financial Services Inc.;
    $9,100 and 18,200 Finder's Warrants payable to 314 Finance Corp.;
    $14,000 and 28,000 Finder's Warrants payable to Jordan Capital Markets Inc.;
    $8,400 and 16,800 Finder's Warrants payable to Hanson Peak LLP;
    $4,200 and 8,400 Finder's Warrants payable to PI Financial Corporation;
    $4,200 and 8,400 Finder's Warrants payable to Canaccord Genuity Corp.; and,
    $33,250 and 66,500 Finder's Warrants payable to Haywood Securities Inc.
    - Each Finder's Warrant entitles the finder to acquire one common share for a period of five years at an exercise price of $0.60.

    Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.

    3.     Resume Trading:

    Effective at the opening, Wednesday, July 25, 2012, trading will resume in the securities of the Company.

    The Company is classified as an "Oil and Gas" company.

    Capitalization:     Unlimited     common shares with no par value of which
    75,099,667     common shares are issued and outstanding
    Escrowed Shares:     6,438,786     common shares are subject to a staged
    release escrow agreement for 36 months

    Transfer Agent:     Computershare Investor Services Inc.
    Trading Symbol:     TPN          (UNCHANGED)
    CUSIP Number:     87402T 10 7     (UNCHANGED)
    Sponsoring Member:     Union Securities Ltd.

    Company Contact:     Joel Dumaresq
    Company Address:     Suite 2630 - 1075 West Georgia Street
    Vancouver, BC  V6E 3C9
    Company Phone Number:     604-336-3193
    Company Fax Number:     604-336-3195
    Company Email Address:     joel@matrixpartners.us
    ________________________________________
    (c)2012 Market News Publishing Inc.  All rights reserved.
    Toronto:(416)366-8881   Vancouver:(604)689-1101   Fax:(604)689-1106

    Provider ID: 02595378
    -0- Jul/24/2012 21:31 GMT

    July 17, 2012 - Closing of the Private Placement Financing and Completion of the Amalgamation With Lion Petroleum Corp.

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN.V - News) is pleased to announce that it has closed the amalgamation (the "Amalgamation") with Lion Petroleum Corp. ("Lion"). Under the terms of the Amalgamation Taipan has issued a total of 20,124,817 common shares to the shareholders of Lion in exchange for all of the issued and outstanding share capital of Lion Petroleum Corp.. The Company has also completed a non-brokered private placement (the "Financing") raising $11,500,000 by the issuance of 23,000,000 units (the "Units") at $0.50 per Unit. Each Unit consists of one common share and one warrant exercisable into an additional common share at a price of $0.60 for a period of five years. 

    Taipan also announces that it has chosen to maintain a 100% interest and operatorship of Block 2B, and that it will not be proceeding with the proposed Farm-In by NewAge Ltd, as previously announced in the Company's July 3, 2012 press release. Taipan expects to pursue farm-out options in the future for Block 2B and this is expected to result in more favourable terms for Taipan shareholders. 

    Mr. Charles Watson commented "the closing of Taipan's first major transaction and financing is a very exciting time in the development of the Company. Lion's Block 1 and Block 2B onshore Kenya are highly prospective oil and gas exploration blocks with significant potential. With a 100% interest and operatorship of Block 2B, Taipan has a number of attractive strategic options as the Company moves closer to its drilling program."

    Taipan has received TSX Venture Exchange (the "Exchange") approval for the Amalgamation and the Financing. The comprehensive filing statement, describing the Amalgamation and related transactions, has been filed with the Exchange and is available on SEDAR for review. 

    Alec Robinson, CEO of Lion, has been appointed as President of Taipan and Andrew Bell, Lion's CFO, has been appointed as the CFO of Taipan. Biographies for these two new appointees are set out in the Company's press release dated June 14, 2012.

    Union Securities acted as Sponsor for the Transaction and in addition to a cash sponsorship fee received 100,000 common shares of Taipan.

    About Taipan Resources Inc. 

    Taipan Resources is an independent oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres in Block 1 and Block 2B onshore Kenya. Lion currently holds a 20% working interest in Block 1 (7.8 million acres gross) which is operated by Afren Plc, and a 100% working interest in Block 2B (1.9 million acres). Taipan Resources' total net unrisked prospective resources on the Blocks are 528 million barrels of oil equivalent based upon the NI 51-101 report prepared by Sproule Associates Limited and Afren Plc management estimates. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

    The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contacts

    Joel Dumaresq
    Taipan Resources Inc.
    Director
    +1 604 336 3193

    July 03, 2012 - Block 2B Farm-in Agreement With NewAge and Update on Proposed Merger With Lion Petroleum Corp.

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN.V - News) is pleased to provide an update to its proposed acquisition of Lion Petroleum Corp. ("Lion") as previously announced in the Company's press releases dated May 17th, May 31th, June 14th and June 20th 2012 (the "Transaction"). 

    Lion has reached an agreement in principle (the "Agreement") with NewAge (African Global Energy) Limited ("NewAge"), whereby NewAge will farm-in for a 50% interest in Block 2B onshore Kenya. Pursuant to the terms of the Agreement, NewAge has agreed to fund 50% of the costs of the proposed work program on Block 2B and provide 50% of the US$5,875,000 bank guarantee required by the Government of Kenya. 

    NewAge is an independent oil and gas exploration and development company with a regional focus on, and operations in, sub-Saharan Africa and Kurdistan. NewAge currently holds licences for 13 onshore and offshore blocks in Congo-Brazzaville, Ethiopia, South Africa and Kurdistan with gross probable reserves and contingent resources of 52 mmboe, prospective resources of over 700 mmboe and significant cash resources. 

    Mr. Charles Watson commented, "The farm-in with NewAge provides additional industry validation as to the prospectivity of Block 2B in addition to a partner with significant technical and financial capacity and extensive experience operating in sub-Saharan Africa."

    In addition, Taipan has amended the price of the units (the "Units") being offered pursuant to the previously announced Private Placement to $0.50 per Unit. Each Unit will now be comprised of one common share and one common share purchase warrant with each warrant being exercisable into an additional common share for 60 months following the closing of the Private Placement at an exercise price of $0.60.

    Taipan is in the process of amending the comprehensive filing statement describing the Transaction to include the NewAge farm-in, which will be filed with the TSX Venture Exchange (the "Exchange") and on SEDAR and shall be available for review. 

    Lion is an oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres onshore Kenya known as Block 1 and Block 2B. Further details on Block 1 and Block 2B are contained in Taipan's news release issued on May 17th, 2012. Approval of the Transaction by the Lion shareholders has been received and Taipan has concluded its due diligence investigation of Lion. Closing of the Transaction is subject to completion of the amended Filing Statement and clearance by the Exchange, receipt of Exchange approval to the Transaction and completion of the Private Placement. 

    Subject to the approval of the TSX Venture Exchange, the Transaction is expected to close on or before July 16th, 2012. 

    About Taipan Resources Inc. 

    Taipan Resources is actively pursuing the acquisition of international oil and gas exploration and development assets. The company is focused on acquisitions in its core geographic regions: Africa, the Middle East and South America, where opportunities remain for junior oil and gas companies to access large-scale oil and gas resources with significant exploration and development upside. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

    The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contacts

    Joel Dumaresq
    Taipan Resources Inc.
    Director
    +1 604 336 3193

    June 20, 2012 - Taipan Resources Inc. Provides Update on Proposed Merger With Lion Petroleum Corp.

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN.V - News) is pleased to provide an update to its proposed acquisition of Lion Petroleum Corp., a private British Columbia company ("Lion"), in exchange for 20,124,817 common shares of Taipan (the "Transaction"), as previously announced in the Company's press releases dated May17, May 31 and June 14, 2012. 

    Taipan is in the process of preparing a comprehensive filing statement describing the Transaction which will be filed with the TSX Venture Exchange (the "Exchange") and on SEDAR and shall be available for review. The Filing Statement will contain audited financial statements for Lion for the years ended October 31, 2011 and 2010 as well as unaudited financial statements for the interim period ended January 31, 2012.

    Lion is an oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres in Kenya known as Block 1 and Block 2B. Further details on Block 1 and Block 2B are contained in Taipan's news release issued on May 17, 2012. Closing of the Transaction is subject to the conditions contained in the Amalgamation Agreement between Taipan and Lion including, among others, approval of the Transaction by both the Lion shareholders and the Taipan shareholders, Taipan being satisfied with its due diligence investigation of Lion, completion of the Filing Statement and clearance by the Exchange, receipt of Exchange approval to the Transaction and completion by Taipan of its previously announced non-brokered private placement (the "Private Placement"). 

    Following completion of the Transaction, Minaz (Mike) Devji will be appointed to the Taipan board of directors, Alec Robinson will be appointed as President, and Andrew Bell will be appointed as Chief Financial Officer. Biographies for the additional proposed new directors and officers were set out in Taipan's press release dated June 14, 2012.

    In addition, Taipan has filed for review the updated NI 51-101 report (the "Geological Report") on Block 1 and Block 2B prepared by Sproule Associates Limited with the Exchange. The Geological Report includes an updated Exploration Work Program for Block 1 and Block 2B onshore Kenya including: (i) seismic acquisition on Block 1 and Block 2B, (ii) a full tensor gravity (FTG) survey on Block 2B, and (iii) the Extension Minimum Work Commitment Fee in the amount of $4,000,000 for Block 2B. The Geological Report it will be filed on SEDAR once the review by the Exchange is complete.

    Union Securities Inc. has been engaged as Sponsor for the Transaction in accordance with the policies of the TSX Venture Exchange. Subject to the approval of the TSX Venture Exchange, the satisfaction of the conditions contained in the Amalgamation Agreement, and the completion of the Sponsor's due diligence, the Transaction is expected to close on or about June 28, 2012.

    The Company has been advised by the Exchange that the trading halt on the Company's securities will be lifted at the opening of the market on Wednesday June 20, 2012.

    Cautionary Statements:

    Union Securities Inc., subject to completion of satisfactory due diligence, has agreed to act as sponsor to the Company in connection with the Transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the Transaction or the likelihood of completion.

    Completion of the Transaction is subject to a number of conditions, including TSX Venture Exchange acceptance and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. 

    Investors are cautioned that, except as disclosed in the Filing Statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Taipan should be considered highly speculative. 

    The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

    About Taipan Resources Inc. 

    Taipan Resources is actively pursuing the acquisition of international oil and gas exploration and development assets. The company is focused on acquisitions in its core geographic regions: Africa, the Middle East and South America, where opportunities remain for junior oil and gas companies to access large-scale oil and gas resources with significant exploration and development upside. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

    The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contacts

    Joel Dumaresq
    Taipan Resources Inc.
    Director
    +1 604 336 3193

    June 19, 2012 - IIROC Trading Resumption - TPN

    VANCOUVER , June 19, 2012 /CNW/ - Trading resumes in:

    Company: Taipan Resources Inc.

    TSX-Venture Symbol: TPN

    Resumption: At the open June 20, 2012

    The Investment Industry Regulatory Organization of Canada (IIROC) can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

    June 14, 2012 - Update on Proposed Merger With Lion Petroleum Corp. and Updated Sproule Report

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN.V - News) is pleased to announce that it has entered into a formal amalgamation agreement dated June 13, 2012 ("the Amalgamation Agreement") with Lion Petroleum Corp., a private British Columbia company ("Lion"), to acquire all of the issued and outstanding securities of Lion in exchange for 20,124,817 common shares of Taipan (the "Transaction"). Taipan is in the process of preparing a comprehensive filing statement describing the Transaction which will be filed on SEDAR and available for review.

    Lion is an oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres in Kenya known as Block 1 and Block 2B. Further details on Block 1 and Block 2B are contained in Taipan's news release issued on May 17, 2012. Closing of the Transaction is subject to the conditions contained in the Amalgamation Agreement including, among others, approval of the Transaction by both the Lion shareholders and the Taipan shareholders, Taipan being satisfied with its due diligence investigation of Lion and completion by Taipan of its previously announced non-brokered private placement (the "Private Placement"). Details on the Private Placement are contained in Taipan's news release dated May 31, 2012.

    Following completion of the Transaction, Minaz (Mike) Devji will be appointed to the Taipan board of directors, Alec Robinson will be appointed as President, and Andrew Bell will be appointed as Chief Financial Officer. Biographies for the additional proposed new directors and officers are as follows:

    Alec Robinson - Proposed President

    Alec Robinson has 40 years' experience in the international upstream oil and gas business, primarily with Amoco Corporation. He graduated from Imperial College, London, in 1974 with a Master's degree in Petroleum Geology and joined Amoco in the UK. Subsequently, he lived and worked with Amoco in many locations around the world, holding various positions, including President in the Sultanate of Oman and in Colombia, and Exploration Manager in Norway and Argentina. He joined TSXV-listed Centric Energy Corp. as President and CEO in 2006, primarily focusing on exploration in sub-Saharan Africa. Centric was bought by Africa Oil Corp. in February 2011, in a transaction valued at approximately C$60 million.

    Andy Bell - Proposed Chief Financial Officer

    Andy Bell has almost 30 years' experience in the exploration and production sector of the oil industry, including financial roles with Charterhouse Petroleum plc, Monument Oil and Gas plc, Consort Resources Ltd, Rosehill Energy plc and Centric Energy Corp. These span private and public funding, London and Toronto junior and main markets, and include start-up and early stage companies through to listing and corporate disposals. Most recently Andy was Chief Financial Officer of Centric Energy Corp., whose sale to Africa Oil Corp. was completed in February, 2011.

    Minaz (Mike) Devji - Proposed Director

    Mike Devji is the founder of Lion. He has over 30 years of experience with public and private companies, relating to the acquisition and financing of resource projects. Mr. Devji is currently a Director and Executive Vice President of Orko Silver Corp., a company that, along with its earn-in partner, Pan American Silver Corp., is developing the La Preciosa silver deposit in Durango, Mexico. In addition, he financed and developed the South-Kemess Copper-Gold Mine in British Columbia.

    In addition, Taipan is pleased to announce that it has received the updated NI 51-101 report (the "Geological Report") on Block 1 and Block 2B prepared by Sproule Associates Limited. The Geological Report includes an updated Exploration Work Program for Block 1 and Block 2B onshore Kenya including: (i) seismic acquisition on Block 1 and Block 2B, (ii) a full tensor gravity (FTG) survey on Block 2B, and (iii) the Extension Minimum Work Commitment Fee in the amount of $4.0 million for Block 2B. The total cost of the Exploration Work Program for Block 1 and Block 2B is expected to be $10.7 million. Taipan has submitted the Geological Report to the TSX Venture Exchange for review and it will be filed on SEDAR once the review is complete.

    Union Securities Inc. has been engaged as Sponsor for the Transaction in accordance with the policies of the TSX Venture Exchange. Subject to the approval of the TSX Venture Exchange and the satisfaction of the conditions contained in the Amalgamation Agreement, the Transaction is expected to close on or about June 25, 2012.

    Cautionary Statements:

    Union Securities Inc., subject to completion of satisfactory due diligence, has agreed to act as sponsor to the Company in connection with the Transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the Transaction or the likelihood of completion.

    Completion of the Transaction is subject to a number of conditions, including TSX Venture Exchange acceptance and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. 

    Investors are cautioned that, except as disclosed in the Filing Statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Taipan should be considered highly speculative. 

    The TSX Venture Exchange has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

    About Taipan Resources Inc. 

    Taipan Resources is actively pursuing the acquisition of international oil and gas exploration and development assets. The company is focused on acquisitions in its core geographic regions: Africa, the Middle East and South America, where opportunities remain for junior oil and gas companies to access large-scale oil and gas resources with significant exploration and development upside. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

    The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contacts

    Joel Dumaresq
    Taipan Resources Inc.
    Director
    +1 604 336 3193

    June, 05, 2012 - IIROC Trading Halt – TPN

    VANCOUVER, June 5, 2012 /CNW/ - The following issues have been halted by IIROC:

    Company: Taipan Res. Inc

    TSX-Venture Symbol: TPN

    Reason: Pending Review of Proposed Acquisition

    Halt Time (ET): 7:53

    The Investment Industry Regulatory Organization of Canada (IIROC) can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

    Contacts

    IIROC Inquiries 1-877-442-4322 (Option 3) - Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only. For more information on IIROC's halts and resumptions policy click here.  

     

    May 31, 2012 - Private Placement Financing for Oil & Gas Exploration of Block 1 and Block 2B Onshore Kenya

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 31, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN.V - News) is pleased to announce that it intends to complete a non-brokered private placement financing for the sale of a minimum of 16,666,667 to a maximum of 25,000,000 units ("Units") at a price of $0.60 per Unit for gross proceeds of $10,000,000 to $15,000,000 (the "Offering"). Each Unit consists of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire a Common Share at the exercise price of $1.00 per share for a period of up to 60 months following the closing of the Offering. The Offering is being conducted in conjunction with the previously announced acquisition of Lion Petroleum Corp. (see press release dated May 17, 2012).

    The Company intends to use the gross proceeds of the Offering to: (i) pay an Extension Minimum Work Commitment Fee in return for a twelve month extension of the exploration period on Block 2B onshore Kenya, (ii) finance its exploration program on Block 1 and Block 2B onshore Kenya, and (iii) for general working capital purposes. 

    Block 1 and Block 2B onshore Kenya total 9.7 million gross exploration acres with net unrisked prospective resources of 528 million barrels of oil equivalent based upon the NI 51-101 report prepared by Sproule Associates Limited and Afren Plc management estimates.

    The Common Shares will be subject to statutory resale restrictions for a period of four months and one day following the closing of the Offering, which is expected to occur on or about June 25, 2012 and remains subject to final approval of the TSX Venture Exchange to the Offering and the acquisition of Lion Petroleum. 

    About Taipan Resources Inc. 

    Taipan Resources is actively pursuing the acquisition of international oil and gas exploration and development assets. The company is focused on acquisitions in its core geographic regions: Africa, the Middle East and South America, where opportunities remain for junior oil and gas companies to access large-scale oil and gas resources with significant exploration and development upside. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

    The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contacts

    Joel Dumaresq
    Taipan Resources Inc.
    Director
    +1 604 336 3193

    May 28, 2012 - Taipan Resources Inc. Announces Board Appointment of Mr. Stephen Lowden

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 28, 2012) - Taipan Resources Inc. (TSX VENTURE:TPN.V - News) is pleased to announce the addition of Mr. Stephen Lowden to the Board of Directors of Taipan Resources Inc. 

    Mr. Lowden has 30 years of wide ranging experience in international oil and gas exploration, development, and production and gas liquefaction with a track record in defining strategy and creating and acquiring new businesses. This is illustrated in Mr. Lowden's roles as a Commercial Business Development Director and Exploration and Production Director at Premier Oil Plc where he added over one billion barrels of oil equivalent (boe) of new resources and his role as President of Marathon International and Senior Vice President of Corporate Business Development and President of Integrated Gas, during which time Marathon was able to replace and regenerate 50% of its upstream portfolio on a reserves and production basis. Mr. Lowden is currently the Chief Executive Officer of New Age (African Global Energy) Limited, a private independent oil and gas exploration and development company with a regional focus on, and operations in, sub-Saharan Africa and Kurdistan. 

    Mr. Charles Watson commented, "Mr. Lowden's in-depth knowledge and extensive global experience in the oil and gas industry, particularly in frontier regions, will be invaluable as Taipan continues to build a world-class portfolio of prospective resources."

    About Taipan Resources Inc. 

    Taipan Resources is actively pursuing the acquisition of international oil and gas exploration and development assets. The company is focused on acquisitions in its core geographic regions: Africa, the Middle East and South America, where opportunities remain for junior oil and gas companies to access large-scale oil and gas resources with significant exploration and development upside. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

    Contacts

    Joel Dumaresq
    Taipan Resources Inc.
    Director
    +1 604 336 3193

    May 17, 2012 - Update on Proposed Merger With Lion Petroleum Corp. and Updated Sproule Report

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2012) - Taipan Resources Inc. (TSX VENTURE:TPN.V - News) is pleased to announce that the company has entered into an agreement for a proposed merger with Lion Petroleum Corp. 

    Lion Petroleum Corp. is an independent oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres in Block 1 and Block 2B onshore Kenya. Lion currently holds a 20% working interest in Block 1 (7.8 million acres gross) which is operated by Afren Plc, and a 100% working interest in Block 2B (1.9 million acres). Total net unrisked prospective resources on the Blocks are 528 million barrels of oil equivalent based upon the NI 51-101 report prepared by Sproule Associates Limited and Afren Plc management estimates. 

    In consideration for the merger, Taipan will provide Lion Petroleum Corp. with irrevocable bank guarantees to fund the required work program on Block 2B and commitments on Block 1. In addition, the current shareholders and convertible bridge loan holders of Lion Petroleum Corp. will receive 20,124,817 shares of Taipan common stock, representing 39.1% of the outstanding shares of common stock of Taipan in the post-merger corporation. 

    Mr. Charles Watson, Director of Taipan, commented, "Lion's Block 1 and Block 2B onshore Kenya are highly prospective, world-class, oil and gas exploration blocks. Kenya is at an early and exciting stage in the development of the country's hydrocarbon resources post the first major oil discovery in Kenya, the Ngamia-1 well, announced by Tullow Oil Plc and Africa Oil Corporation in March."

    BLOCK 1 ONSHORE KENYA (7.8 MILLION ACRES)

    Block 1 is located in northeast Kenya contiguous with the borders of Ethiopia and Somalia and contains the Tarbaj oil seep. The Block is in an extension of the Ogaden basin which in Ethiopia contains approximately 4 trillion cubic feet of natural gas resources. The El Kuran oil discovery in Ethiopia, close to the Block 1 boundary, is planned to be appraised by Africa Oil Corporation and Afren Plc later this year. Lion Petroleum Corp. originally farmed-out a 50% interest in Block 1 to East Africa Exploration, subsequently purchased by Afren Plc, with Afren Plc carrying Lion Petroleum Corp. for up to 600 km of 2D seismic or up to US$6 million in gross cost. Afren has recently elected to exercise its option to increase its interest in Block 1 to 80%, subject to approval of the Kenyan Government, by carrying Lion Petroleum for an additional 600 km of 2D seismic up to a further US$6 million in gross cost. Afren management estimates gross prospective resources of 751 million barrels of oil equivalent on Block 1 (150 mmboe net). 

    BLOCK 2B ONSHORE KENYA (1.9 MILLION ACRES)

    Block 2B is located at the southernmost extension of the northwest-southeast trending Anza Graben, near the juncture with both the Mandera-Lugh and Mochesa Basins. The Block contains both Tertiary and Cretaceous plays. The Tertiary plays are analogous to the Tullow Oil Plc and Africa Oil Corporation Ngamia-1 discovery located in the main Tertiary rift to the west. The Cretaceous plays are a potential extension of the Sudanese oil-productive Melut and Muglad basins. The NI 51-101 report completed by Sproule Associates Limited concludes that Block 2B has 378 million barrels of oil equivalent of unrisked prospective resources with 17 exploration leads. 

    There is no certainty the transaction will be completed and the closing of the merger is subject to, among other things, signing a definitive merger agreement, approval of the TSX Venture Exchange, completion of satisfactory due diligence, and approval of the Kenyan Government. 

    About Taipan Resources Inc. 

    Taipan Resources is actively pursuing the acquisition of international oil and gas exploration and development assets. The company is focused on acquisitions in its core geographic regions: Africa, the Middle East and South America, where opportunities remain for junior oil and gas companies to access large-scale oil and gas resources with significant exploration and development upside. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

    The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Contacts

    Joel Dumaresq
    Taipan Resources Inc.
    Director
    +1 604 336 3193

    May 10, 2012 - Taipan Resources Inc. Announces Board Appointment of Mr. Charles Watson

    VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/10/12)- Taipan Resources Inc. (TSX-V: TPN) is pleased to announce the addition of Mr. Charles Watson to the Board of Directors of Taipan Resources Inc.

    Mr. Watson brings over 30 years of oil and gas industry experience with Bechtel and Royal Dutch Shell plc, recently retiring as Chairman of Shell Russia, Chairman of the Board of Directors for the Sakhalin Energy Investment Company, and Executive Vice President Royal Dutch Shell plc covering Russia and the CIS. Mr. Watson also previously held the roles of Executive Vice President Shell Energy Europe, Executive Vice President Shell Gas and Power, and Vice President Exploration and Production for Africa, the Middle and India. Mr. Watson is also currently a Non-Executive Director of Kazakmys PLC, a large mining company quoted on the FTSE 100.

    Mr. Joel Dumaresq commented, "Mr. Watson's extensive global experience in the oil and gas industry, particularly in Africa, the Middle East, and other emerging market jurisdictions, will be invaluable in reaching Taipan's goal of building a portfolio of world class oil exploration and development properties."

    About Taipan Resources Inc.

    Taipan Resources is actively pursuing the acquisition of international oil and gas exploration and development assets. The company is focused on acquisitions in its core geographic regions: Africa, the Middle East and South America, where opportunities remain for junior oil and gas companies to access large-scale oil and gas resources with significant exploration and development upside. Taipan is traded on the TSX Venture Exchange under the symbol TPN.

    Contact:

    Taipan Resources Inc.
    Joel Dumaresq
    Director
    +1 604 336 3193

    October 28, 2014 - Horn of Africa pipeline gets World Bank funds

    The World Bank is to pour millions of dollars into helping finance a planned oil pipeline to exploit discoveries in the Horn of Africa region.

    The funds are just part of an $8 billion financial assistance package pledged by the bank and other global financial institutions to improve the region’s business prospects and socio-economic conditions.

    A joint trip by the World Bank, European Union, African Development Bank, African Union Commission, Islamic Development Bank and the Intergovernmental Agency for Development to the area this week laid out a road path to economic improvement in the region’s countries.

    Read Full Article

    October 21, 2014 - Oil: The New Frontiers And New Ideas

    USD / EUR stands at 1.2654 at time of writing. The greenback is approaching 2 year highs against Euro. Unemployment at 6.1%, was at an 8 year low. The US shale revolution is the outlying attributable factor in the current economic revival. Previous periods of growth simply did not have such a powerful contributing stimulus as cheap shale energy. Intriguingly, on September 17th, Republicans voted to extend the charter of the Export Import Bank of the United States until June 30th, 2015. Soon after on October 1st, the controversial bank wrote a $1 billion bond guarantee in favor of Petroléos Mexicanos (PEMEX). Commentators say the move supports 6,700 US jobs as PEMEX will purchase oil and gas drilling services, platforms, turbine generators and mud pumps from US based producers. Just like the shale revolution, the pursuit of the next big idea or the next new frontier will underpin the US economic position. Below I shall discuss the hottest new frontiers and the pioneering companies, big and small, who stand to benefit the most from first mover advantage.


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    June 25, 2014 - Kenya wants parliament to approve new energy law by Oct

    NAIROBI, June 25 (Reuters) - Kenya wants parliament to approve its revised petroleum law before October, its energy minister said on Wednesday, clearing a hurdle to opening up more blocks to explorers.

    Oil discoveries in Uganda and Kenya by Britain's Tullow Oil and gas found off Tanzania and Mozambique have turned east Africa into a frontier for hydrocarbon exploration. Kenya aims to start production in 2016, with Uganda following in 2017.

    Read Full Article

    June 24, 2014 - Africa Oil Announces New Gas Discovery at Sala Prospect in Block 9 in Kenya

    VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 24, 2014) - Africa Oil Corp. (TSX:AOI)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to announce it has made a gas discovery in Block 9 onshore Kenya. The Sala-1 drilled a large 80 square kilometer anticlinal feature along the northern basin bounding fault in the Cretaceous Anza graben and encountered several sandstone intervals which had oil and gas shows. The well was drilled to a total depth of 3030 meters and petrophysical analysis indicated three zones of interest over a 1000 meter gross interval which were subsequently drill stem tested. An upper gas bearing interval tested dry gas at a maximum rate of 6 mmcf/d from a 25 meter net pay interval. The interval had net reservoir sand of over 125 meters and encountered a gas water contact so there is potential to drill up-dip on the structure where this entire interval will be above the gas-water contact. A lower interval tested at low rates of dry gas from a 50m potential net pay interval which can also be accessed at the up-dip location. It should also be noted that there were oil shows while drilling and small amounts of oil were recovered during drilling and testing which indicates there may be potential for oil down-dip on the structure. Africa Oil is the Operator of Block 9 with a 50% working interest. Marathon Oil Kenya Limited B.V. has the remaining 50% interest.

    An appraisal plan to follow up this discovery is currently being evaluated by the partnership in consultation with the Kenyan government. Plans being discussed include an up-dip location to confirm the areal extent of the gas zones tested where the full net sand interval can be intersected above the gas-water contact. The partnership is also considering a down-dip appraisal location to test an on-lapping stratigraphic wedge on the flanks of the structure which is of the same age as the zones in the nearby Ndovu-1 well which had oil and gas shows.

    In addition, the Company is considering drilling an appraisal well on the crest of the large Bogal structure to confirm this large potential gas discovery which has closure over an area of up to 200 square kilometers. The gross best estimate of prospective resources for Bogal are 1.8 trillion cubic feet of gas based on a third-party independent resource assessment. The Company currently has two optional slots on the Great Wall drilling rig used to drill the Sala-1 well that are available for this appraisal program.

    The Company believes there is a very strong market for gas development in Kenya and have already engaged in discussions with power companies and the government to potentially fast track a gas to power project that could add significant value and create benefits for the people of Kenya. In 2013 the Government of Kenya launched its "+5000 MW by 2016 - Power to transform Kenya" initiative with ambitious plans to increase Kenya's power generating capacity by 5,000 Mega Watts in 40 months. This plan includes significant generating capacity fuelled by imported LNG and coal which are currently being bid. The discovery of indigenous gas in significant quantities in Block 9 has the potential to offer a far more cost effective fuel source for these power projects that will also provide positive environmental and local development benefits. Significant interest exists with development agencies and commercial independent power producers to partner on power developments in Kenya.

    Africa Oil CEO Keith Hill stated, "We are very excited about the opening a new basin and the possibilities of bringing significant value to the Company by our Block 9 discovery. Not only is there a great need for power in Kenya, there is also the potential for downdip oil and for additional prospects on trend. We have a number of leads along this basin bounding fault and additional seismic data is being considered. We continue to have a very active exploration and appraisal program in both Kenya and Ethiopia and have made significant progress in moving the South Turkana pipeline and development program forward in cooperation with the Kenyan government."

    The Company is also pleased to update additional exploration and appraisal activities in Kenya and Ethiopia.

    In Kenya, the Company has 4 additional rigs active in the South Turkana Basin where oil discoveries have previously been announced at Ngamia, Twiga, Agete, Amosing, Ekales, Etuko and Ewoi.

    The PR Marriott 46 rig has recently completed the Ngamia-2 well which was drilled 1.7 km from the Ngamia-1 discovery well to test the northwest flank of the prospect. The well encountered up to 39 meters of net oil pay and 11 meters of net gas pay and appears to have identified a new fault block trap north of the main Ngamia accumulation. The reservoirs were high quality with more than 200 meters of net reservoir sands with good permeability inferred from MDT sampling. The well has been suspended for testing and the rig will continue to drill up to 4 additional appraisal wells in the Ngamia field area for an extended well test program. A 3D seismic program is currently being concluded over the field area which should allow for detailed mapping of the fault trends.

    The SMP-5 rig has completed testing operations on the Agete-1 well where it confirmed the Auwerwer pay previously released, the well flow rate was tested at 500 barrels of oil per day. This rig is now currently on location at the Ewoi-1 discovery and is preparing to test, after which it will continue to be used to test discovery and appraisal wells in this basin.

    The Weatherford 804 rig is currently drilling the Agete-2 downdip appraisal well and will then move to drill the Etom prospect located 7 kilometers north of the Agete discovery along the basin bounding 'string of pearls' trend.

    The Sakson PR-5 rig is drilling ahead on the Amosing-2 downdip appraisal well, with a planned sidetrack, and will then move to drill the Kodos and Epir (formerly Aze) prospects, which will be the first exploratory wells to test the Kerio Basin, located immediately adjacent to the prolific S. Lokichar basin.

    Finally, the Exalo 205 rig is drilling ahead on the Gardim prospect, located in the Chew Bahir basin in the South Omo block in Ethiopia. The partnership is in discussions on the next prospect to be considered for drilling in this block.

    About Africa Oil Corp.

    Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia as well as Puntland (Somalia) through its 45% equity interest in Horn Petroleum Corporation. Africa Oil's East African holdings are within a world-class exploration play fairway with a total gross land package in this prolific region in excess of 215,000 square kilometres. The East African Rift Basin system is one of the last of the great rift basins to be explored. Seven new significant discoveries have been announced in the Northern Kenyan basin in which the Company holds a 50% interest along with operator Tullow Oil plc. The Company is listed on the Toronto Stock Exchange and on First North at NASDAQ OMX-Stockholm under the symbol "AOI".

    Forward-Looking Statements

    Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation). Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities, ultimate recovery of reserves or resources and dates by which certain areas will be explored, developed or reach expected operating capacity, that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

    All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, changes in oil prices, results of exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government or other regulatory approvals, actual performance of facilities, availability of financing on reasonable terms, availability of third party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations. Actual results may differ materially from those expressed or implied by such forward-looking statements.

    Cautionary Statements regarding Well Test Results

    Drill stem tests are commonly based on flow periods of 1 to 5 days and build up periods of 1 to 3 days. Pressure transient analysis has not been carried out on all well tests and the results should therefore be considered as preliminary. Well test results are not necessarily indicative of long-term performance or of ultimate recovery.

    ON BEHALF OF THE BOARD

    Keith C. Hill, President and CEO
    Africa Oil's Certified Advisor on NASDAQ OMX First North is Pareto Securities AB.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Africa Oil Corp.
    Sophia Shane
    Corporate Development
    (604) 689-7842
    africaoilcorp@namdo.com
    www.africaoilcorp.com

    May 08, 2014 - Big Oil Consolidates African Oil Assets

    Stock House -- Vancouver, BC / ACCESSWIRE / May 8, 2014 -- The recent announcement of the $1.35 billion Glencore Xstrata (GLNCY-LON) takeover of Chad oil producer Caracal Energy (CRCL-LON) and the $1.55 billion Al Mirqab Capital takeover of Heritage Oil (HOIL-LON) announced last week are the beginning of a big year for African oils consolidation.

    GMP Securities analyst Tao Ly commented recently: “following Glencore’s bid for Caracal, we think the significance of this latest bid for Heritage again confirms that valuations in the sector are low enough to attract opportune M&A…”

    In addition to low valuations, the key driver of further consolidation in the African oil space will be access to rift basin assets. These basins have accounted for almost all of the billion-barrel-plus oil discoveries onshore Africa in recent years with the Kenya rift basins currently ranked as the hottest onshore exploration jurisdiction in the world.

    With significant industry interest, low valuations relative to resource potential, and large rift basin acreage positions, Kenyan rift oil companies Africa Oil Corp. (AOI-TSX; AOIFF-US) and Taipan Resources (TPN-TSX-V; TAIPF-US) are primed for potential takeovers.

    The first major rift basin oil acquisition was completed by Tullow Oil (TLW-LON) in 2010 with the $1.45 billion purchase of the Heritage Oil Lake Albert Rift Basin assets in Uganda. Tullow then sold two-thirds of the Lake Albert assets to Chinese National Oil Company CNOOC (CEO-NYSE) and Supermajor Total SA (TOT-NYSE) in 2011 for $2.9 billion. Tullow estimates that there is 1.7 billion barrels of recoverable oil in the Lake Albert Rift Basin and is going to spend billions of dollars developing this asset with its partners.

    Tullow has also been a leader in the rift basin in Kenya where it farmed-into the Kenyan exploration assets of Africa Oil Corp. prior to the play-opening Ngamia-1 discovery that was made in 2012.

    Early entrants into the rift basins In Kenya have had huge exploration success and stock market gains. The market cap of Africa Oil Corp. increased from $250 million prior to drilling to $2.5 billion after the Ngamia-1 well. There have been a number of follow-on discoveries in Kenya and Africa Oil Corp. now has 7 rigs operating in the region with partners Tullow, Marathon Oil (MRO-NYSE), and Afren (AFR-LON) and is drilling six new basin opening wells this year.

    Over 368 million barrels of oil have been discovered so far in Kenya with expectations for the total amount of resources to be well above a billion barrels of oil. With large scalable concentrated rift basin assets, Africa Oil is firmly in the sweet spot to be acquired by larger oil companies like CNOOC and Total. The question is not if, but when and for how much.

    It is likely that Africa Oil Corp. has already had a number of approaches from Big Oil and is waiting for the right time to sell. This is likely to be later this year after the company has completed further appraisal wells and well tests to better determine the value of its discovered resources in the Lokichar basin. The company is also drilling a number of potential basin-opening wells this year that it may want to complete prior to a take-out.

    One of the other reasons Africa Oil is so attractive is that the company has a market cap of only $2.5 billion, making it an easy tuck-in acquisition for Big Oil companies. Most of the other companies operating in Kenya like Marathon Oil and Tullow have market caps of well over $10 billion, while mid-cap companies like Afren have an asset base that is too diversified.

    Taipan Resources is the fourth largest acreage holder in Kenya and has a two well fully funded drilling program in 2014 targeting over $1 billion of resources net to the company. Sproule International has also independently assessed that on Taipan’s operated Block 2B alone, there is mean gross unrisked prospective prospective resources of 1.6 billion barrels based on 19 exploration leads. Taipan has a market cap of only $40 million, making the company the other likely takeover candidate in Kenya in 2014.

    Big Oil won’t be interested in Taipan, they are willing to pay billions of dollars after a discovery is made. But mid-sized exploration companies can’t afford to wait and will take the opportunity to make a cheap acquisition with two high impact oil wells fully carried and funded. With 19 exploration leads Block 2B would also give a larger, cash rich oil company years of drilling inventory in the hottest onshore rift basin exploration region in the world.

    While the market hasn’t yet fully appreciated the potential of Taipan’s assets, industry certainly has. Premier Oil (PMO-LON) is spending $30.5 million on one of Taipan’s blocks this year to drill the Badada prospect after agreeing to a farm-in deal in 2013, and Afren is spending a similar amount on Taipan’s other block to drill the Khorof prospect this year.

    Paul Logan, who was the Chief Geologist at Heritage Oil that made the original Lake Albert Rift Basin discoveries, also joined Taipan late last year. Logan discovered the 1.7 billion barrels in the Lake Albert Rift Basin, drilling six discovery wells in a row with 100% exploration success.

    At the recent Premier Oil investor day, Andrew Lodge Exploration Director of Premier also commented on Block 2B:

    “the trick to this is to attempt to identify the Tertiary Rift Basins within the Anza Basin which are analogous to Uganda and the Lokichar discoveries. We think we've found that through farming into Taipan's acreage. We took a 55% interest. We have just done some prospective seismic survey, verified the main prospect and will drill that prospect, Badada this year. The ultimate resource potential in the block is over 1 billion barrels but the key to this, the key unlocker will be the Badada well...."

    Taipan is now fully funded for the Badada and Khorof wells this year with an unrisked NPV net to Taipan of $1.34 billion. This equates to over $8 per share on a fully diluted basis. Taipan closed at $0.40 per share yesterday.

    The risked value of Taipan’s two wells this year is $1.50 per share. This means that an acquirer could justify paying up to $1.50 per share pre-drilling.

    At $0.40 per share Taipan is an attractive risk/reward proposition for mid-sized exploration company. If the market doesn’t close the Taipan valuation gap, industry will.

    Apr 23, 2014 - Emerging Markets Communications to Exhibit and Speak at Sub-Saharan Africa Oil and Gas Conference In Houston

    Digital Journal -- Apr 23, 2014 -- Global satellite (VSAT) and terrestrial connectivity provider Emerging Markets Communications (EMC) will sponsor Energy Corporate Africa's 7th Annual Sub-Saharan Africa Oil and Gas Conference, May 1 - 2, 2014 at the Marriott Westchase in Houston, Texas. This targeted event brings together top government officials, national and international oil and gas companies from Sub-Saharan Africa, independent exploration, production, service providers and investors to exchange ideas, showcase technology and discuss challenges in the region.

    EMC will discuss its commitment to investing in satellite and terrestrial connectivity to support the increased oil and gas activity in key markets in Africa. Hadassa Lutz, Vice President of Energy, Emerging Markets Communications, will present "Enabling Reliable Telecommunications in Africa for Both Onshore and Offshore Requirements in Oil & Gas" on May 1st at 11:10 am, highlighting connectivity challenges, technological development and growth expectations for some of the largest emerging oil and gas markets in Africa including Nigeria, Angola, Mozambique and Liberia.

    EMC has over 10 years of delivering satellite (VSAT) and terrestrial connectivity solutions to remote locations in Africa. The company is the largest hybrid network service provider on the continent with experience in delivering and maintaining connectivity for customers in all 54 countries. EMC has 14 field support locations throughout Africa enabling quick deployments in key oil and gas markets such as Nigeria, South Sudan, Angola, Kenya, Liberia and DRC.

    EMC will be located at booth B3 and will have representatives available throughout the Sub Saharan Africa conference to network and answer questions about the company's VSAT and terrestrial communications capabilities in Africa. If you would like to schedule a meeting or a media briefing with an EMC representative, please contact Nicole Aguillard at naguillard(at)emc-corp(dot)net.

    About Emerging Markets Communications

    Emerging Markets Communications® is a global satellite and terrestrial communications company specializing in delivering mission-critical, network services for global energy, maritime, mobile network operators, carriers, governments, NGOs and worldwide enterprises with locations in the most remote and/or challenging areas of the world. As a proven industry leader, Emerging Markets Communications® enables customers the agility, scalability and efficiency designed to facilitate growth for their global operations.

    The company operates in 140 countries, with over 35 global field support centers and wholly-owned infrastructure of teleports and terrestrial PoPs in North America, South America, Europe and Africa. Emerging Markets Communications® is financially backed by ABRY Partners; a firm specialized in funding the communications industry with $36 billion of completed transactions.

    Apr 22, 2014 - Nairobi to host oil, gas expo from Sunday

    CapitalFM -- Apr 22, 2014 -- NAIROBI, Kenya, Apr 22 – Over 70 exhibitors from 28 countries are expected to attend this year’s East Africa Oil and Gas Expo 2014 in Nairobi between April 27-29.

    Organised by the multinational exhibition firm Expogroup, the exhibition brings together national and international experts in the oil and gas industry to exchange views and share knowledge, expertise and experiences.

    Speaking ahead of the event, Expogroup Regional Manager Lawrence Kuria said there was need for continued engagement that will see more local investors venture into the oil and gas sector.

    The event aims to explore areas of growth in petroleum technology, exploration, drilling, production and processing, refining, pipeline, petroleum trade, information technology, safety and health.

    “At the stage we are in Kenya, it’s just exploration and whoever is carrying out the exploration is not a local person but a foreigner. But when this will be through and we start producing oil, of course we will need a lot of knowledge to be able to manage and handle that capacity,” Kuria said.

    In January this year, exploration firm Tullow Oil plc announced two separate oil discoveries in Block 10BB in Turkana.

    This increased the oil discoveries in the South Lokichar Basin to 600 million barrels, with the overall potential of the basin being in excess of one billion barrels of oil.

    “As exploration continues, to develop the oil sector, we need to see more local investors partner with these foreign people and see how we will be able to manage the capacity of the oil production,” he added.

    The ExpoGroup will simultaneously hold the 17th edition of the AutoExpo Africa 2017 at KICC.

    “The show will provide exhibitors with an opportunity and platform to meet existing and new customers, interact with distributors and suppliers and gain competitive insight of the market,” Expogroup Exhibition Manager Neville Trindade noted.

    In the past two years, the automobile market has entered into top gear with leading car makers like Audi, BMW, Mercedes and Nissan opening showrooms in Nairobi.

    Written By: MARGARET WAHITO

    Apr 14, 2014 - Ethiopian oil marketer says Africa needs to refine its oil

    Reuters -- Apr 14, 2014 --  Ethiopia's leading private oil marketer plans to expand into neighboring east African economies and is interested in part financing a refinery after commercial discoveries in the region.

    Tadesse Tilahun, CEO of National Oil Ethiopia, said untapped crude deposits in Kenya and Uganda handed governments and investors the opportunity to construct a refinery able to compete with cheap imports from India, the Gulf and beyond.

    Doing so would help African countries extract more value from their resources and cut their import bills, Tadesse said.

    "Africa's demand for refined products is growing hugely because of its economic growth. The crude findings are also increasing. That is the opportunity," Tadesse said in Addis Ababa as part of the Reuters Africa Summit.

    "We want to (build) a refinery. We have already discussed this in principle with our shareholders, who are very much committed."

    National Oil's (NOC) shareholders include Saudi billionaire Mohammed Hussein Al Amoudi, whose investment portfolio in construction, gold, hotels and energy has helped amass an estimated fortune of over $15 billion, according to Forbes.

    Tadesse said other private and public investors would need to come on board.

    Eastern Uganda has become the latest frontier in the global hydrocarbon hunt after gas finds off Tanzania and Mozambique and oil discoveries in Uganda and Kenya.

    Even so, Sub-Saharan Africa faces headwinds supplying more of its own refined petroleum products. Regional cooperation and funding for oil-related infrastructure are proving slow, while foreign oil refiners and traders are flooding the $80 billion market with imports.

    Existing pipelines also tended to run to the coast, Tadesse said, either for the export of crude or the import of refined products from small-scale refineries found near ports.

    "That has to change," Tadesse said. "Refineries are now needed inland so that Africa can supply itself."

    CONSTRAINTS

    Tadesse acknowledged the price tag was problematic for many African countries. Oil production in Uganda has been delayed in part due to a row between the government and investors over the size - and thus cost - of a refinery in the country.

    "It would be in our own interest, for all countries in this area, to have a common refinery, a joint facility, where we can take our own product," Tadesse said.

    Kenya plans - but has made little progress towards - a new $2.8 billion refinery on its northern coast. Industry experts say Ugandan and Kenyan oil exports could reach 500,000 barrels per day - oil Tadesse would rather see stay in the region.

    Founded in 2004, NOC now claims a 35 percent share of a market tightly controlled by the Ethiopian state. So too are other key sectors including banking, retail and telecoms, which the government says need shielding from foreign investors while the economy diversifies away from its agricultural base.

    Tadesse said NOC had secured a license for fuel stations in neighboring Djibouti and targeted expanding its downstream operations into Kenya within five years. Plans to enter South Sudan have been shelved due to the four-month conflict there.

    "We want to be a regional player," Tadesse said.

    Oil consumption has doubled in 10 years in Ethiopia, one of Sub-Saharan Africa's fastest-growing economies and now the region's fifth-largest after leap-frogging Kenya.

    Demand for oil in Ethiopia is seen tripling by 2025, indicative of the economic transformation under way in Africa's second-most populous nation which is still better known abroad for the famine of 1984 and communist-era purges.

    But the pace of NOC's expansion at home hinges on the government relaxing its grip on the industry.

    Tadesse said the government imported all fuel products and set the market price, allowing fuel stations a margin of just 4 Ethiopian cents - roughly 0.2 U.S. cents - per liter. Land rights issues also hindered growth.

    "In no way can that be attractive to investors," he said.

    Written By: Richard Lough; Editing By: Susan Fenton and David Evans

    April 09, 2014 - Tower Resources unveils transformational deals in Africa

    Proactive Investors -- April 09, 2014 --  Tower Resources (LON:TRP) has unveiled new acquisitions in Africa, which it believes will be “transformational” for the business.

    It is to acquire privately owned Rift Petroleum, which has assets offshore South Africa and onshore Zambia, through a share-based deal worth just over £19mln.

    Separately, it has agreed a deal to farm into Block 2B onshore Kenya, where Premier Oil (LON:PMO) and Taipan are planning to drill a potential “play opening” exploration at the end of this year.

    To buy a 15% stake in the Kenyan asset, Tower is paying Taipan US$4.5mln in cash, issuing new shares and committing US$1mln to a second well.

    Crucially, an accompanying £19.3mln (US$32mln) equity funding also means Tower has the necessary cash to pay for its share of the Welwitschia-1 well, offshore Namibia, while retaining 30% of the project.

    It is issuing 550mln new shares, priced at 3.5p each, to institutional and other investors.

    Welwitschia is due to spud later this month, and is targeting almost 500mln barrels of prospective resources.

    Tower also reminded investors that it is working to add assets in Cameroon, where it has now been named as ‘preferred bidder’ for the Dissoni Block. Talks are ongoing with the relevant departments of the Cameroon government.

    Chief executive Graeme Thomson said: “These transactions, combined with our existing assets in Namibia and Western Sahara, and our ongoing negotiations in Cameroon, Madagascar and elsewhere, will transform Tower into a true Pan-African exploration company.

    “On completion Tower will hold a diversified asset portfolio, in highly prospective hydrocarbon regions and at various stages of development, which should deliver numerous operational milestones in the coming months and years.

    “Each asset has the individual potential to deliver substantial upside for our investors.”

    Jeremy Asher, Tower’s chairman, meanwhile, said he hoped investors that had been impatient for news can now see why it has taken the company “a little time” to conclude the arrangements announced today.

    He also emphasised that the placing announced on Wednesday was a better outcome than a possible farm-out of the Namibian asset.

    “Protecting and growing shareholder value is at the forefront of our thinking on all matters, and the recovery in Tower's share price presented the opportunity to fund our remaining costs associated with the drilling of the Welwitschia-1 well through a placing that is far less dilutive to shareholder interests than a farm-out,” Asher added.

    Robert Wiegold, broker at Shard Capital, in a note, said investors in Tower should feel confident now that the funding is in place for the Welwitschia programme.

    “The Welwitschia well is potentially enormous and a company maker if successful,” he said.

    Wiegold also points out that the new acquisitions provides Tower with much needed diversification.

    The broker highlights the offshore South Africa assets, in particular, which he describes as being “highly prospective” and says that Tower is “in good company” here as oil majors Shell, Total, Anadarko and Exxon have all farmed into to surrounding licences.

    Tower itself plans to farm out some of its newly acquired 50% interest in the two South African licences.

    In more immediate term, however, investor attentions are expected to remain on Welwitschia.

    “For now, though, all the focus will be on the Welwitschia drill, this of course is a high impact exploration well and as a result it carries a high level of risk,” Wiegold said.

    “This play is not for the faint hearted, but from 3.5p we see upside potential from current levels.”

    Elsewhere, Northland Capital said there was a lot to digest in Tower’s statement.

    Northland said Tower’s decision to raise money for the Welwitschia well programme, rather than farm out project equity, was a sensible move. The broker also points out that a farm-out would still be possible in the future, albeit depending on the success or failure of the well.

    “The recent rally has seen Tower’s share rise from a low of 1.2p last October to over 6p before settling at just below 5p prior to today’s announcement,” analyst Andrew McGeary said.

    “Thus, it was a sensible step to put the measure in place to fund the commitments itself given its stronger share currency of late, albeit at a substantial discount.”

    Like Shard Capital, Northland sees the Welwitschia programme as the near term catalyst for Tower’s shares.

    “We expect Tower’s fortunes to be substantially tied to the performance of Welwitschia-1,” McGeary said.

    “If Welwitschia-1 is successful then there remains significant upside potential, if not we would expect a major amount of equity value to be removed.”

    Written By: Jamie Ashcroft

    September 4, 2013 - Africa Oil, Tullow May Sell Stakes in Kenya Finds, Hill Says

    Bloomberg -- September 4, 2013 --  Africa Oil Corp. (AOI) and Tullow Oil Plc (TLW) may sell as much as half of their fields in Kenya to a strategic partner to share costs, Africa Oil Chief Executive Officer Keith Hill said.

    Each company holds a 50 percent stake in the South Lokichar Basin fields and may sell 40 percent to 50 percent of the combined assets to “a multinational” company, Hill said in Oslo today. Tullow declined to comment.

    “Early on it would be a very small piece, maybe a 10 percent piece of our 50 percent interest,” Hill said in an interview. Interest in buying a stake may rise because the oil resource estimate “could easily triple by the end of next year, using any reasonable risk on the wells we’re drilling.”

    Africa Oil yesterday increased more than sixfold its estimate for gross contingent resources to 368 million barrels of oil. The partners are ready to start pumping crude as soon as next year after discovering first oil last year.

    Africa Oil climbed 5.7 percent to 48.50 kronor in Stockholm. Tullow declined 1.3 percent to 1,030 pence in London.

    “We’re talking probably 18 months to two years from now, until we’ve drilled enough wells to feel confident enough about what we have,” that “we can attract a partner on terms that we’d find acceptable,” Hill said.

    Africa has been in talks with some interested companies, Hill said, declining to name any. A possible partner would have to offer “a big premium” to compensate for reserves that have yet to be found, he said.

    Kenya may become East Africa’s first oil-exporting nation as soon as 2016 after the companies increase oil production, Tullow Chief Operating Officer Paul McDade said in July.

    Written By: Mikael Holter & Eduard Gismatullin

    August 20, 2013 - Kenya From Nowhere Plans East Africa’s First Oil Exports: Energy

    Bloomberg -- August 20, 2013 --  Kenya is headed to become the first oil exporter in East Africa, moving in less than five years from being a have-not nation to the regional leader in cutting reliance on energy suppliers such as Royal Dutch Shell Plc.

    After Tullow Oil Plc (TLW) discovered oil last year, Kenya is set to start shipments in 2016, overtaking neighboring Uganda, where Tullow found crude more than seven years ago. The U.K. explorer plans to start pumping in Kenya as soon as next year, Chief Operating Officer Paul McDade said in an interview. Kenya’s deposits may top 10 billion barrels, according to the company, more than three times the U.K.’s remaining reserves.

    Exports will underpin Kenya’s shilling currency and are being pushed by a government that wants a lead on Uganda and Democratic Republic of Congo, whose East African resources in recent years attracted explorers such as China’s Cnooc Ltd. (883) and France’s Total SA. (FP) Most oil companies traditionally had focused on the African powerhouses of Nigeria and Angola to the west, and Libya and Egypt on the Mediterranean.

    Oil will allow Kenya to “diversify export earnings and act as a catalyst for infrastructural spending, especially on the transport network,” Phumulele Mbiyo, regional head of macroeconomic research at Nairobi-based CfC Stanbic Bank Ltd., a unit of Standard Bank Group Ltd., said in an interview. “The shilling is expected to benefit from inflows of foreign exchange and reduced spending on fuel imports.”

    Viable Rate
    Kenya imports all its fuel, almost 80,000 barrels of oil a day at a daily cost of more than $8 million, according to U.S. government data. It relies on exports such as coffee and tea to support the balance of trade in a $37 billion economy, East Africa’s largest.

    Tullow estimates it has found more than 300 million barrels of oil equivalent resources after making three discoveries in Kenya’s South Lokichar Basin. In February, Twiga became the first well in Kenya to produce oil at a commercially viable rate and has the potential to produce 5,000 barrels a day.

    “After 50 years of disappointments, Tullow’s results in the Lokichar Basin have been the key breakthrough,” Oswald Clint, an analyst at Sanford C. Bernstein & Co., wrote in an Aug. 16 report. “Of 30 wells between 1960 and 1992, prior to Tullow’s entry, 13 were dry, 12 encountered non-commercial gas shows, and five encountered signs of oil staining or oil shows.”

    Vivo Energy, a Shell joint venture with Vitol Group, as well as Total and KenolKobil Ltd. are the biggest suppliers of crude and petroleum products to the nation. Kenya Petroleum Refineries Ltd., the nation’s sole refinery, half-owned by Essar Energy Plc (ESSR), only refined crude from Abu Dhabi last year.

    Bullish Idea
    The discoveries have been made in the remote and underdeveloped Turkana region in the northwestern part of Kenya’s Rift Valley. Shipments will initially be made by truck or train for refining in Mombasa or exports. Once more fields are discovered and developed a pipeline can be built.

    Kenya oil exports are “a very bullish idea, because Turkana is one of the least developed parts of Kenya,” Clare Allenson, an analyst at Eurasia Group, said in a phone interview. “This is definitely worth watching to see how” it will progress.

    Tullow and partner Africa Oil Corp. (AOI) plan to spend at least a year exploring for further deposits. They have two drilling rigs in Kenya and expect to secure one more later this year.

    The Kenyan government wants things to go faster.

    “They are not drilling enough wells,” Kenyan Petroleum Commissioner Martin Heya said in a phone interview from Nairobi. “Uganda drilled a long time ago, but it’s possible that we can produce earlier than anybody else. We shall be happy.”

    Local Refinery
    Tullow is facing delays in Uganda, where the government and oil companies are negotiating the terms of production after 1.7 billion barrels of oil were discovered. Oil from landlocked Uganda will eventually be exported through Kenya.

    Ugandan President Yoweri Museveni’s government has delayed the $10 billion investment planned by Tullow and its partners, Total and Cnooc, to tap the Lake Albert fields. The sides need to agree on the size of a local refinery and an export pipeline, which is likely to cross Kenya in 2018.

    “Uganda missed the boat and Kenya will become the oil-sector hub,” John Small, chief executive officer of the Eastern Africa Association, said in an interview. “It only makes real commercial sense to cooperate and have linked pipeline network” in the region.

    In Kenya, Tullow and Africa Oil still have to submit their field development plan to the Kenyan government. Eventually, a pipeline will be built from the fields to a terminal on the Indian Ocean coast, McDade said.

    “For the Kenyan economy it’s going to be a major step forward,” Africa Oil CEO Keith Hill said in a phone interview. “Once the export pipeline is completed they will have a significant influx of capital coming in from oil export revenues.”

    Uganda’s Museveni and his Kenyan and Rwandan counterparts, Uhuru Kenyatta and Paul Kagame, in June discussed plans for regional fuel and crude pipelines. Uganda needs more resources than Kenya to make its oil export pipeline viable partly because it’s further away from the Indian Ocean coast.

    August 1, 2013 - Turkana oil: Kenya to start oil production

    Standard Digital -- August 1, 2013 --  Turkana, Kenya: Kenya’s oil prospects received a shot in the arm as Tullow Oil announced the most recent well it has drilled is commercially viable.

    The British firm announced yesterday that if Kenya drills the Etuko-1 well, it will have a possible average production of 300 million barrels in all its three wells. Ngamia-1 and Twiga South-1 wells are the other commercially viable wells Tullow has drilled since January last year.

    “Following the completion of the Etuko-1 well, Kenya’s petroleum resources are expected to be in excess of 300 million barrels, exceeding the basin threshold for development,” Tullow said in a statement in reference to the oil discovery in the region.

    The Etuko-1 well seems to have a lot of potential because Tullow said it had deepened the drilling and encountered about 50 metres of potential net oil pay. Previous announcements had put Twiga South-1 well net pay at 30 metres.

    The Etuko-1 well is located on Block 10BB in Lokichar basin, in Turkana County. The discovery has raised prospects of oil in Kenya and also throughout the region, given Uganda has also struck the commodity.

    Partnerships
    “Our exploration-led growth strategy delivered major success in Kenya and Ethiopia, further enhancing East Africa as a new oil region,” said Aidan Heavey, Tullow-Oil’s CEO.

    The British firm also announced more success on the Ngamia-1 and Twiga South-1 wells where the previous estimates of barrels of oil per day were increased from 3,000 barrels per day to 5,000 barrels per day.

    Net pay is the thickness of an oil reservoir, which is capable of producing hydrocarbons.

    The new discoveries mean Tullow will have to engage stakeholders to ensure Kenya benefits from the oil.

    “Resources discovered to date are of a scale that the partnership will initiate discussions with the Government of Kenya and other relevant stakeholders to consider development options,” the company said in its statement released yesterday.

    Tullow, which is listed on the London Stock Exchange, reported its first-half 2013 net profit fell to Sh21.2 billion compared to Sh49.3 billion for the same period last year.

    The British firm hopes to increase its exploration activities in Africa, especially in East Africa, with the discovery of the new oil deposits.

    July 31, 2013 - Kenya’s oil is commercially viable

    Daily Nation -- July 31, 2013 --  The oil deposits in Kenya are commercially viable, a leading company involved in exploration in Turkana County said Wednesday.

    In a statement uploaded on its website, British oil explorer Tullow Oil Plc said it will now move to negotiate with the government on oil production and how this can be done.

    The company made the revelations in its half-year results. Tullow is listed on the London Stock Exchange.

    In an interview with the Nation on Tuesday, Energy and Petroleum secretary Davis Chirchir said he had met Tullow officials and commended the company for “doing a good job.”

    He, however declined to expound on the statement.

    During the meeting, Tullow submitted a quarterly report on its exploration activities in the country.

    In May, Tullow chief executive Aidan Heavey indicated that his company was ready to start producing oil and transporting it for refining in Mombasa if the roads leading to the exploration site in Turkana are built.

    “If local roads were improved, Tullow could start producing from Kenya now, possibly trucking crude to the refinery in Mombasa,” Mr Heavey had told Bloomberg after the company’s annual general meeting.

    In the next phase of talks with the government, the company expects to discuss the “start-up phase” oil production system with a potential to deliver significant production rates with oil being exported by road and rail ahead of the establishment of a pipeline system.

    Last month, Tullow said it had discovered more deposits estimated at about 250 million barrels of oil with potential to produce 5,000 barrels of oil per day — higher than previous estimates.

    It also said it also struck an additional oil find in the Etuko-1 well following drilling that started in May.

    Tullow first discovered oil in Kenya in March last year at the Ngamia-1 well within Block 10BB in the Lokichar basin.

    The company has to date drilled five exploration wells out of which three — Ngamia 1, Twiga South 1 and Etuko 1 — have been found to have significant oil deposits.

    Flow tests at the Twiga South 1 and Ngamia 1 wells were completed in February and July respectively with test results raising the estimates that had previously been attained for the wells.

    In its half year report, the company has raised its oil resource estimate for Kenya by 20 per cent from 250 million barrels to 300 million barrels as a result of the additional discovery at the Etuko 1 well. Early last month, rough market estimates valued Kenya’s oil resource at Sh2.6 trillion.

    Last week, the British firm announced that it had commenced drilling at a sixth exploration well, Ekales 1.

    The company also said it will carry out further tests on the Paipai 1 well that was drilled in March where light hydrocarbons indicating possible presence of natural gas deposits were encountered.

    The series of oil discoveries made by Tullow on the locks it operates with Canadian oil company Africa Oil as well as a similar discovery of natural gas by Anadarko, an American oil and gas explorer on Block L8 within the Lamu basin have generated increased interest in Kenya from international oil companies.

    By the end of last year, all the country’s oil blocks had been given out to the various licensed exploration companies.

    The Ministry of Energy is expected to gazette new blocks, some curved out of blocks that have been given up by some companies for licensing to new exploration firms.

    In its half year report, Tullow also said that in February, it entered into an agreement with the government allowing it to develop and produce the oil resources discovered to date while at the same time focus on exploration and appraisal to increase the resource base.

    The Energy Ministry is yet to update its laws governing exploration and production of petroleum to secure enough revenue for the government from the country’s oil finds.

    Even with possible significant discoveries of natural gas especially within the Lamu basin which shares a geological structure with Tanzania and Mozambique that are known for commercially viable natural gas deposits, Kenya is yet to come up with contracts for exploring and mining natural gas.

    June 26, 2013 - Kenya, Others To Build Pipelines Across East Africa

    VENTURES AFRICA -- June 26, 2013 --  The presidents of Kenya, Uganda and Rwanda have agreed to build two pipelines across East Africa, one of which would end South Sudan’s heavy reliance on Sudan for its oil exports.

    Kenya’s Daily Nation newspaper reports that Uganda’s Foreign Affairs Minister Sam Kutesa said the three presidents, who held a joint meeting in Uganda on Tuesday, have decided the pipelines were crucial for unity and economic prosperity in East Africa. The region which is experiencing an energy boom resulting from oil and gas discoveries in Kenya, Uganda and Tanzania.

    He said one of the pipelines will stretch from South Sudan to Kenya’s island port town of Lamu and the other from Rwanda to the Kenyan port of Mombasa.

    Currently South Sudan can only export its oil through Sudan. But the two countries disagree over transit prices and security issues on their shared border. This has led to border closures and conflicts between the two countries.

    Mr. Kutesa also said the three countries have agreed to mobilise resources to construct a railway line from Kenya through Uganda to Rwanda.

    “It was agreed to revamp the exiting railway network and also construct a standard gauge railway line in Kenya and Uganda and also extend it to Rwanda,” he said. “They also agreed that they would work together to mobilise resources for it.”

    According to President Museveni of Uganda, this would reduce transport costs of goods from Mombasa to Uganda and Rwanda.

    Specific tasks were given to each country to work on before they next meet.

    Rwanda is supposed to fast track the implementation of one East African Identity Card and single tourism visa.

    Uganda will spear head the construction of the railway and the oil pipeline refinery while Kenya oversees the construction of the oil pipeline.

    Mr. Kutesa said the three heads of state agreed to meet every two months to assess the progress of these massive economic proposals.

    May 28, 2013 - AFRICA OIL FIRST QUARTER OF 2013 FINANCIAL AND OPERATING RESULTS

    (AOI – TSXV, AOI - NASDAQ OMX) … Africa Oil Corp. (“Africa Oil”, “the Company” or “AOC”) is pleased to announce its financial and operating results for the three months ended March 31, 2013.

    • On the back of the successful exploration activities in Kenya during 2012, the Company, together with its partners, continues to ramp up its exploration program in Kenya and Ethiopia. Entering the year, two Tullow-Africa Oil joint venture rigs were operating in Kenya and one joint venture rig was operating in Ethiopia. A fourth Tullow-Africa Oil joint venture rig has been secured and is expected to commence testing and drilling operations in Kenya on Blocks 10BB and 13T during the third quarter of 2013. The Company, as operator, and its partner in Block 9 (Kenya) have secured a fifth rig, which will commence drilling operations in the third quarter of 2013. In addition, the Company and its partners in Block 7/8 (Ethiopia) have secured a sixth rig, which will commence drilling operations in June 2013. For a period, the Company will have 6 drilling rigs operating and expects to exit the year with 5 rigs operating in the region. The Company plans to drill 10 to 12 wells and perform up to 5 well tests across its exploration blocks during 2013.
    • The Company and its partner on Block 13T, Tullow, conducted well testing operations at Twiga South-1, which resulted in a cumulative flow rate of 2,812 barrels of oil per day (“bopd”) from three zones, despite being constrained by surface equipment. With optimized production equipment, the cumulative flow rate is anticipated to have increased to a cumulative rate of approximately 5,200 bopd. High quality 37 degree API waxy sweet crude flowed from all three zones in the Auwerwer formation with good quality reservoir sands encountered. The well was suspended as a potential future production well.
    • The Company and its partner on Block 10BB, Tullow, are currently conducting tests on a series of six zones at the Ngamia-1 discovery. Ngamia-1 was drilled in 2012 but testing operations were postponed until appropriate artificial lift equipment was sourced to properly assess the accumulation. The first of these tests was in the Lower Lokhone formation where up to 43 meters of potential pay had previously been identified by logging and MDT sampling. The well flowed 281 barrels of 30 degree API oil per day from this zone. The remaining 5 tests are being conducted in the Auwerwer formation which are the highest quality reservoirs penetrated in the Ngamia well and which produced very well in the Twiga South-1 well. Results of these remaining Ngamia-1 tests are expected to be announced in June 2013.
    • In the first quarter of 2013, the Company and its operating partners on Block 10A completed drilling the Paipai-1 exploration well. The Paipai-1 well tested a large four-way closed structure with Cretaceous-age sandstone targets at multiple depths. Paipai-1 spudded in September 2012 and completed drilling in the first quarter of 2013 to a total depth of 4,255 meters. Light hydrocarbons were encountered while drilling a 55 meter thick gross sandstone interval. Attempts to sample the reservoir fluid were unsuccessful and the hydrocarbons encountered while drilling were not recovered to surface. The Company and its partners were unable to test the well at the time due to the unavailability, in country, of testing equipment capable of handling the higher reservoir pressures encountered at this depth. As a result, the well has been temporarily suspended pending further data evaluation.
    • The rig that drilled the Paipai-1 well in Block 10A has mobilized to the Lokichar Basin in Block 10BB to drill the Etuko prospect in the flank play where oil was discovered in 1992 by Shell at the Loperot-1 well. The Etuko-1 well spud in early May 2013 and results from the well are expected in July 2013. Should Etuko-1 be successful, there are a number of drill ready follow-up prospects on the same trend.
    • The Company and its partners on the South Omo Block (Ethiopia) spudded the Sabisa-1 well in January 2013 and the well was drilled to a preliminary total depth of 1,810 meters. Hydrocarbon indications in sands beneath a thick claystone top seal have been recorded while drilling, but hole instability issues have required the drilling of a sidetrack to comprehensively log and sample these zones of interest. The sidetrack is underway and a result is expected in late May/early June.
    • The Company and its joint operating partners on Blocks 7/8 (New Age operated) are planning to drill and test the El Kuran-3 appraisal well. A rig has been secured, the well site has been constructed and the well is expected to spud towards the end of June 2013. Should the well show encouragement, a multi-zone acid fracture stimulation well test is planned during 2013.
    • The Company and its partner on Block 9 are currently planning to drill one exploration well in 2013. Block 9 is in the Cretaceous rift basin on trend with the South Sudan oil fields and the play concept was confirmed by the recent Paipai-1 well drilled in Block 10A. Two major prospects, Bahasi-1 and Sala-1, with large volume potential have been identified. The Company, as operator, and its partners in Block 9 have secured a rig to drill the Bahasi-1 exploration well. Site construction for Bahasi-1 commenced in May and the well is expected to spud in the third quarter of 2013.
    • The Company continues to actively acquire, process and interpret 2D seismic over Blocks 10BA, 10BB, 12A, 13T and South Omo. In addition, the Company and its partner in Blocks 10BB and 13T will mobilize a 3D seismic crew to complete a 550 square kilometer 3D seismic survey over the Ngamia and Twiga structures later in 2013.
    • In first quarter of 2013, the Company executed a PSA for the Rift Basin Area in Ethiopia. Located north of the South Omo Block, the Rift Basin Area covers 42,519 square kilometers. This block is on trend with highly prospective blocks in the Tertiary rift valley including the South Omo Block in Ethiopia, and Kenyan Blocks 10BA, 10BB, 13T, and 12A. The Company commenced acquiring a Full Tensor Gradiometry survey in May 2013 and will conduct an exhaustive environmental and social impact assessment over the block later in the year in preparation for a seismic program in 2014.
    • Africa Oil ended the quarter in a strong financial position with cash of $237.1 million and working capital of $198.8 million.

    Keith Hill, President and CEO, commented, “Africa Oil is very encouraged with the results of our first two exploration wells in the Lokichar basin. Our fully funded 2013 work program is focused on drilling and testing multiple wells in the Lokichar sub-basin in Kenya in an effort to reach commercial thresholds and on drilling multiple potential basin-opening wells across its vast East African exploration acreage.”

    First Quarter 2013 Financial and Operating Highlights
    Consolidated Statement of Net Loss and Comprehensive Loss
    (Thousands of United States Dollars)

    Operating expenses decreased $2.5 million for the three months ended March 31, 2013 compared to the prior year due mainly to a $3.1 million impairment of intangible exploration assets relating to Blocks 7 and 11 in Mali recorded in the previous year. This decrease was offset by a $0.1 million donation to the Lundin Foundation and increased compensation related costs associated with increased headcount and operational activity. The Lundin Foundation is a registered Canadian non-profit organization that provides grants and risk capital to organizations dedicated to alleviating poverty in developing countries.

    Financial income and expense is made up of the following items:

    The loss on revaluation of marketable securities is the result of a decrease in the value of 10 million shares held in Encanto Potash Corp which were acquired as part of the acquisition of Lion. These shares were sold during the three months ended March 31, 2012.

    At March 31, 2013, nil warrants were outstanding in AOC and 53.4 million warrants were outstanding in Horn. AOC holds 13.3 million of the warrants outstanding in Horn. The Company recorded a $2.7 million gain on the revaluation of warrants for the three months ended March 31, 2013 due to a reduction in the volatility of the shares of Horn combined with a reduction in the remaining life of the warrants. The Company will incur fair market value adjustments on the Horn warrants until they are exercised or they expire (43,868,527 expire September 20, 2013, 9,375,000 expire June 8, 2014, 156,248 expire June 11, 2014, and 15,000 expire June 18, 2014).

    Interest income increased in the first quarter of 2013 due to a significant increase in cash late in the fourth quarter of 2012 as a result of cash received from the non-brokered private placement in December of 2012.

    The foreign exchange gains and losses are the direct result of changes in the value of the Canadian dollar in comparison to the US dollar. The Company’s cash holdings are primarily in US and Canadian currency.

    Consolidated Balance Sheets
    (Thousands United States Dollars)

    The increase in total assets from December 31, 2012 to March 31, 2013 is primarily attributable to intangible asset expenditures incurred during the quarter in Kenya, Ethiopia and Puntland (Somalia).

    Consolidated Statement of Cash Flows
    (Thousands United States Dollars)

    The decrease in cash for the three months ended March 31, 2013 is mainly the result of intangible exploration expenditures and cash-based operating expenses.

    Consolidated Statement of Equity
    (Thousands United States Dollars)

    The Company’s consolidated financial statements, notes to the financial statements, management’s discussion and analysis for the three months ended March 31, 2013 and the 2012 Annual Information Form have been filed on SEDAR (www.sedar.com) and are available on the Company’s website (www.africaoilcorp.com).

    Outlook

    The Ngamia-1 and Twiga South-1 light oil discoveries in the Lokichar sub-basin, combined with positive results from reservoir analysis and flow rate tests at Twiga South-1, has led to a significant increase in the pace of exploration focused on tertiary rift basins. The Company and its joint venture partners in the tertiary rift play in east Africa plan to have four rigs operating by the end of 2013. The focus of these rigs in 2013 will be to continue drilling and testing wells in the Lokichar sub-basin in Kenya with improved efficiencies in an effort to reach commercial thresholds, and to drill potential basin-opener wells in the Turkana and the Chew Bahir basins in the tertiary rift play within Ethiopia. The Company and its partners will continue to acquire seismic data throughout the tertiary rift in Kenya and Ethiopia in an effort to add to its existing portfolio of drill-ready prospects.

    The Company and its operating partner in Block 9 in Kenya are currently planning to drill the Bahasi-1 exploratory well. This well will be drilled on a large anticlinal structure targeting tertiary and cretaceous sandstones where six billion barrels of oil was discovered along trend in Sudan in a similar geologic setting. A follow-up well is also being considered towards the end of 2013 in Block 9. The Company and its operating partners in Blocks 7/8 in Ethiopia are currently planning to drill a well to appraise reservoir characteristics of Jurassic carbonates on the El Kuran oil accumulation. The main focus of this well is to establish commercial rates with acidizing, fraccing and horizontal sidetracks being considered.

    The Company, through its 44.6% ownership interest in Horn, and its partners entered the next exploration period in both the Dharoor Valley and Nugaal Valley PSAs which carry a commitment to drill one well in each block within an additional three year term. The current operational plan is to contract a seismic crew to acquire additional data in the Dharoor Valley block and to hold discussions with the Puntland Government regarding drill ready prospects in the Nugaal Valley block. The focus of the Dharoor Valley block seismic program will be to delineate new structural prospects for the upcoming drilling campaign.

    Africa Oil Corp. is a Canadian oil and gas company with assets in Kenya and Ethiopia as well as Puntland (Somalia) through its 45% equity interest in Horn Petroleum Corporation. Africa Oil's East African holdings are in within a world-class exploration play fairway with a total gross land package in this prolific region in excess of 250,000 square kilometers. The East African Rift Basin system is one of the last of the great rift basins to be explored. Two new significant discoveries have been announced in the Lokichar basin in which the Company holds a 50% interest along with operator Tullow Oil plc. The Company is listed on the TSX Venture Exchange and on First North at NASDAQ OMX-Stockholm under the symbol "AOI".

    FORWARD-LOOKING STATEMENTS

    Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable Canadian securities legislation). Such statements and information (together, "forward looking statements") relate to future events or the Company's future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities, ultimate recovery of reserves or resources and dates by which certain areas will be explored, developed or reach expected operating capacity, that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

    All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven and probable reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend, and does not assume any obligation, to update these forwardlooking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, changes in oil prices, results of exploration and development activities, uninsured risks, regulatory changes, defects in title, availability of materials and equipment, timeliness of government or other regulatory approvals, actual performance of facilities, availability of financing on reasonable terms, availability of third party service providers, equipment and processes relative to specifications and expectations and unanticipated environmental impacts on operations. Actual results may differ materially from those expressed or implied by such forward-looking statements.


    ON BEHALF OF THE BOARD
    “Keith C. Hill”
    President and CEO

    For further information, please contact:
    Sophia Shane,
    Corporate Development
    604) 689-7842.

    Africa Oil's Certified Advisor on NASDAQ OMX First North is Pareto Öhman AB.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    APRIL 15, 2013 - East Africa Operational Update

    tullowoil.com--(April 15, 2013) - Tullow Oil plc (“Tullow”) provides an update on progress with the Sabisa-1 well in Ethiopia and announces a successful first flow test of the Ngamia-1 well in Kenya.

    Ethiopia – Sabisa-1 encounters hydrocarbons requiring logging and further evaluation
    The Sabisa-1 well in the South Omo Block in Southern Ethiopia has been drilled to a total depth of 1,810 metres. Hydrocarbon indications in sands beneath a thick claystone top seal have been recorded whilst drilling, but hole instability issues have required the drilling of a sidetrack to comprehensively log and sample these zones of interest. The sidetrack recently commenced and a result is now expected in late May. Tullow (50%) is the operator of this well with Africa Oil (30%) and Marathon Oil (20%) having non-operated interests.

    Kenya – first of six Ngamia-1 well tests flows at 281 bopd
    At the Ngamia-1 well in Block 10BB in Kenya, the first of six drill stem tests has now been completed. The test was carried out in the Lower Lokhone formation. The well flowed 281 barrels of 30 degree API oil per day using a Progressive Cavity Pump. The other tests will be carried out in the Auwerwer reservoirs (formerly Upper Lokhone) which produced very well in the recent tests at the Twiga South-1 well. The mobilization of the drilling rig from Paipai in Block 10A to the Etuko (previously Kamba) location in Block 10BB in Kenya continues on schedule with drilling expected to commence in the first half of May. Tullow operates the Ngamia-1 well and Africa Oil (50%) has a non-operated interest.

    Angus McCoss, Exploration Director of Tullow Oil plc, commented today
    “The Sabisa-1 well has proved to be technically challenging, as is often the case in frontier basins, and the well now requires a side-track to redrill, log and sample the objective section. Nevertheless, we are encouraged by the hydrocarbon indications which provide emerging evidence for a working petroleum system in the previously undrilled South Omo Basin. The results from the first flow test at Ngamia are also very encouraging and prove the first potentially commercial flow from the Lower Lokhone reservoir section. The remaining tests in the Auwerwer reservoir units will give us a fuller indication of Ngamia’s production potential.”

    JANUARY 17, 2013 - ARKeX FTG Survey for Taipan Resources in Kenya

    Arkex.com--(January 17, 2013) - ARKeX, the provider of non-seismic geophysical imaging services, has recently been awarded a contract by Taipan Resources Inc. to acquire an airborne Full Tensor Gravity Gradiometry (FTG) survey over Block 2B onshore Kenya. The survey will be used to further assess the petroleum system and de-risk any future exploration activities.

    Block 2B contains both Tertiary and Cretaceous plays. The Tertiary plays are analogous to the Tullow Oil and Africa Oil Ngamia-1 discovery located in the main Tertiary rift to the west.

    “ARKeX and FTG have a long history in the region with numerous surveys conducted in Kenya, Ethiopia, Tanzania and Uganda,” said Paul Versnel, VP Sales at ARKeX. “The technology has been ideally suited to the geology and frontier nature of East African exploration. We are very pleased to be awarded the Taipan survey and look forward to sharing the interpreted results in due course.”

    Mr. Maxwell Birley, CEO commented, "The Anza Basin is one of the largest Tertiary-age rift-basins of the East African Rift system which contains multi-billion barrel oil discoveries. We continue to believe based on existing gravity, magnetic and seismic data that the 'sweet spot' of the Anza Basin is located on Block 2B. Recent proprietary geochemistry work completed by Taipan also demonstrates that there is excellent quality Tertiary oil-prone source rock present in the Anza Basin in the region of Block 2B."

    About ARKeX
    ARKeX is a provider of non-seismic geophysical imaging services for the oil & gas exploration industries. It specialises in the acquisition of multi-client and proprietary Full Tensor Gravity Gradiometry (FTG) data. FTG surveys measure minute variations in the earth's gravitational field to help image subsurface structures. FTG has a much higher bandwidth and delivers a higher resolution image than conventional gravity surveys. It can be used as a stand alone service or in conjunction with seismic data. ARKeX can also process and interpret conventional gravity and magnetic data as well as brokering multi-client non-seismic data. Based in Cambridge, UK, ARKeX has offices in Sherington, UK, and Houston, USA, and has global operational capabilities.

    About Taipan Resources Inc.
    Taipan Resources Inc. (TSX VENTURE:TPN) is an independent African oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan is traded on the TSX Venture Exchange with the symbol TPN.

    JANUARY 15, 2013 - Sabisa-1 Spuds in Ethiopia

    Petroleumafrica.com--(January 15, 2013) - Africa Oil Corp. and Tullow Oil have dropped the drillbit on their South Omo Block in Ethiopia with the spud of the Sabisa-1 well. The well was spud on January 13 by the operator Tullow and is currently drilling ahead.

    The well is expected to take approximately 60 days to reach the planned total depth of 2,600 meters.

    Africa Oil holds a 30% working interest in the block with Tullow holding a 50% interest and Agriterra Limited (Agriterra) holding the remaining 20% interest. Marathon Oil Ethiopia B.V. has announced a transaction to purchase Agriterra’s interest in the South Omo Block. This transaction is subject to the Ethiopian government’s approval.

    The South Omo Block is located in the northern portion of the Tertiary East African Rift trend where Africa Oil and partner Tullow, have made two significant discoveries in the Lokichar Basin of Kenya. The Sabisa well is located on a similar structural feature as those two discoveries, along a major basinal fault trend. The basin that this well is located in is slightly younger in age than the Lokichar Basin.

    One of the primary goals of this well is to prove that the petroleum system extends to the north which could open up a new sub-basin if successful. There are numerous prospects and leads on trend with Sabisa. Partners are currently acquiring 1,000 km of 2D seismic data in the Chew Bahir Basin, located in the eastern portion of the block. Prospects identified from this newly acquired survey could provide future drilling candidates that would test another sub-basin within the Tertiary rift trend.

    Africa Oil’s president Keith Hill commented, “This is an exciting well which has the potential to de-risk a large portion of our current portfolio of prospects. With the aggressive exploration campaign planned with our partners Tullow and Marathon in 2013, we will have the opportunity to dramatically change the profile of the Company in the upcoming year. With our recent financing completed, we are well situated to execute one of the most exciting exploration campaigns in the world class East African play fairway.”

    JANUARY 11, 2013 - Tullow lays out 2013 plans

    Upstreamonline.com--(January 11, 2013) - London-listed Tullow Oil has revealed it is planning to drill 40 wells as it targets net unrisked mean volumes of about 1 billion barrels of oil equivalent in 2013.

    The high-impact exploration and appraisal programme will see the company drill up to 11 wells in Kenya and Ethiopia this year.

    That number includes the Paipai-1 wildcat Tullow is currently drilling on Block 10A in Kenya’s Rift Valley that will test Cretaceous and Jurassic sandstone targets.

    Tullow also said on Friday that it was planning to spud the Sabisa-1 well on the South Omo Block in Ethopia within the next two weeks.

    The exploration and appraisal programme will represent an investment of about $900 million out of the company’s total forecast capital expenditure budget of $2 billion.

    Tullow is forecasting 2013 production to fall within the range of 86,000 to 92,000 barrels of oil equivalent per day.

    The company’s working interest production in 2012 averaged 79,200 boepd, which was slightly down on its previous guidance after the forced shut-down of its non-operated assets in the CMS area off the UK in December following a safety incident.

    Last month ConocoPhillips Lincolnshire Offshore Gas Gathering System (LOGGS) was closed following a major gas leak.

    Tullow also revealed in Friday’s operational update that write-offs during the second half of 2012 associated with unsuccessful exploration activities, new ventures activity and licence relinquishments totaled about $219 million, compared to just $80 million in the first half of the year.

    About $120 million of write-offs were related to licence relinquishments in Guyana and Suriname, as well as $40 million associated with the drilling of the unsuccessful Okure well off Ghana.

    When combining the asset value reduction of $371 million Tullow reported in the first half of 2012, the company’s total write-off for 2012 is expected to be about $670 million.

    By: Josh Lewis

    DECEMBER 25, 2012 - 2012's Top 5 Oil & Gas Plays

    E&P NEWS, RIGZONE.COM--(December 25, 2012) - 2012 has been a stellar year for oil and gas. From East Africa to North America, new technology, major new discoveries, an unparalleled appetite for exploration and a metamorphosing perception of risk have changed the playing field.

    We're looking at potential rather than existing production, and here are our Top 5 picks for this year:

    Turkana County, Kenya
    We have to start with Kenya, the biggest success story of the year.

    In March, the UK's Tullow Oil and Canada's Africa Oil Corp. discovered 100 meters of oil in the Ngamia-1 well. The euphoria was in part because this discovery was made on the very first try in the very first well. Stocks shot up to record highs as a result.

    The euphoria has not abated. In late November, the same duo made another find of 30 meters of oil in the nearby Twiga-1 well. September also saw Kenya strike 53 meters of natural gas in its first-ever offshore find in the Mbawa-1 well, off the coast of Malindi. US-based Apache Corp. owns 50% the well in a consortium with a handful of other companies. They're still digging, hoping that going deeper will reveal the oil.

    The bigger picture, however, is that only the surface has been scratched in terms of exploration. The East Africa Rift is believed to hold over 70 billion barrels of untapped crude oil, while offshore Kenya, Tanzania and Mozambique have a joint estimated 250 trillion cubic feet of natural gas. There may be offshore oil, too. The oil discoveries in Kenya so far have been confined to one massive basin, and there are six more.

    In addition to the size of the prize here, Kenya is favorable for other reasons as well: It offers relative political stability in the midst of a rather restless Africa; it offers attractive fiscal terms; it offers easy access to export markets; and it has an appetite for infrastructure that is hard to beat.

    While 2013 may see some changes in the regulatory environment that could be less favorable, as for 2012, Kenya remains THE number one East African play in terms of potential. Next year will give us a better idea of commercial viability.

    Bakken, North Dakota
    The Bakken shale play has placed North Dakota ahead of Alaska, making it the number two oil producer in the US for 2012, after Texas. Because of Bakken, the US has increased oil production this year to a level it hasn't seen in almost a decade and a half. In one month alone this year, North Dakota issued 370 drilling permits.

    Stretching from Eastern Montana to Western North Dakota and across parts of Saskatchewa and Manitoba in the Williston Basin, the Bakken Shale Play could yield some 4.3 billion barrels of oil, according to the US Geological Survey. That's the modest estimate. Continental Resources—one of the major Bakken players—estimates as much as 40 billion barrels.

    The clincher is that much of the vast Bakken Petroleum System has not even been tapped. So far, drilling has primarily targeted the Middle Bakken and the upper Three Forks Zones. The Three Forks Zones have not been fully tapped, and the Upper Bakken Shale hasn't really been tapped at all.

    Eagle Ford, South Texas
    Eagle Ford is potentially the next Bakken. It's one of the most ACTIVE plays in the US right now. And what the majors and juniors are playing with is 7,500 in total acreage, five producing wells, two more wells being drilled, and the potential for 100 wells. This year, oil production has increased to some 300,000 bpd (as of August).

    Natural gas is also a major Eagle Ford offering. Last year, it produced 914 million cubic feet of natural gas, though that has dropped slightly for this year.

    So far, drilling seems to have had even better results than in Bakken. And there is a great deal of confidence and optimism. Enough so that Marathon Oil is planning to shift its primary focus from Bakken to Eagle Ford and spend one-third of its operating budget there. Right now Marathon is producing around 40,000 net barrels of oil equivalent (boe) per day and plans to more than double this next year. It's already doubled production this year (and, incidentally, seen its profits jump 11% in the first quarter).

    The biggest producer is EOG Resources, putting out about 110,000 boe/day and holding reserves of around 1.6 billion boe.

    Analysts think Eagle Ford could end up out-producing the Permian Basin in west Texas—and soon.

    Mediterranean Plays
    The Levant Basin in the Mediterranean has an estimated 122 trillion cubic feet of recoverable natural gas, and around 1.7 billion barrels of recoverable oil. And the area has seen a flurry of activity recently.

    Between 25 and 33 billion cubic feet of this gas is in Israeli waters. The rest is carved up between Greek-held Northern Cyprus (which is a bit problematic), Syria and Lebanon.

    Of course, along with this potential comes some uncomfortable geopolitics; on one hand among Israel, Lebanon and Syria; on the other hand between Israel, Turkey and the Greek Cypriots.

    The first new natural gas field in the region is expected to begin full-scale production this year, with two additional fields coming on-line over the next six years.

    Specifically, we're talking about:
    (a) The discovery to two offshore natural gas fields in northern Israel (Leviathan and Tamar) with an estimated 25 trillion cubic feet (about 100 years year of gas for Israeli domestic use)
    (b) Estimates that Israel has a potential 1.9 billion barrels of untapped oil
    (c) About 5-6 tcf of natural gas in the Aphrodite field claimed by Greek-held Northern Cyprus (just west of Israel's Leviathan field)

    Exploitation will be a bit expensive, though. Israel's offshore fields are located 100 kilometers from the coast and in 6,000 feet of water. The natural gas is some 5,000 feet under the sea bed.

    Offshore Tanzania & Mozambique
    Tanzania has become a gas sensation in a very short time, with recent offshore discoveries of some 33 trillion cubic feet. Sweetening the deal, we have political stability and low security risk, relatively speaking, as well as an existing 70-million-cubic-feet/day capacity for natural gas processing. More gas infrastructure is in the works.

    Next door, Mozambique's 130 trillion cubic feet of gas in its offshore Rovuma Basin is eye candy for foreign investors, and officials believe there is double this amount still waiting to be discovered. It's not as attractive as Tanzania for one reason: There is no infrastructure.

    By: Jen Alic

    OCTOBER 30, 2012 - TULLOW STRIKES OIL IN SECOND NORTHERN KENYA OPERATION

    BUSINESS DAILY, AFRICA--(October 30, 2012) - British petroleum company Tullow has discovered additional oil deposits in northern Kenya, moving the country closer to having commercially exploitable reserves.

    Sources with knowledge of Tullow Kenya’s operations said the Twiga 1 South well, where exploration began mid this year, has yielded more than 30 metres of net pay’ deposits, 10 metres more than the initial discovery at the pioneer Ngamia well.

    Twiga well, which Tullow co-owns with Africa Oil at 50 per cent working interests each, is in Lokichar sub-basin onshore Block 13T in North Western Kenya.

    Tullow Oil was expected to announce the fresh discovery before the end of this month, but was delayed by a mechanical fault on the drilling rig, according to its partner, Africa Oil.

    “Africa Oil expects to announce drilling results from the Twiga South-1 well, currently being drilled in Block 13T, in early to mid-November,” the Canadian company said in a statement.

    ‘‘Announcement of these results has been slightly delayed due primarily to minor mechanical issues on the drilling rig, which have now been addressed,” said a statement to investors by Keith Hill, president and CEO of the firm that is listed on the Toronto Ventures Exchange. The Business Daily has, however, learnt that the UK explorer has discovered ‘data quality oil’ at a depth of 2,337 metres against full depth of 3,600 metres.

    Super well
    “Ngamia 1 was a super well at 100 metres of net pay and because the wells are close by, we should expect similar results,” said our source. “This is the first time that Tullow has struck oil at this depth.”

    The source described the latest discovery as encouraging news and good progress towards confirming commercial quantities of oil.

    “It should also improve market share values for the investors and enable them raise more cash to develop the wells,” our source said.

    Tullow expects higher quantities of oil at Twiga than it discovered at Ngamia 1, according to sources within the company and at the Ministry of Energy. The extent and the quality of the reservoir is yet to be determined.

    The firm initially struck 20 metres of net pay deposits at Ngamia 1 but that gradually rose to between 104 metres and 143 metres of net pay as drilling continued in Block 10BB near Lake Turkana. The discovery was made at a depth of 2,340 meters.

    Drilling at Twiga South-1 well, in Block 13T, is expected to continue to a total depth of 3,114 meters and targets the same structural layers and reservoirs as the Ngamia-1 oil well, which is located 23 kilometres to the south.

    “Twiga South-1 well, represents the next step in expanding the play northward into the Lockichar basin and proving up the ‘string of pearls’ concept along the main basin bounding fault,” Africa Oil said. Discovery of additional oil deposits is being seen as positive for Kenya even as the country awaits the official announcement next month.

    “Drilling is ongoing at Twiga 1 but they have not issued a formal report to us ,” the Commissioner for Petroleum Martin Heya. Analysts described the discovery of 30 metres of net pay deposits as very significant for the Tertiary Rift but cautioned that it was prudent to wait for release of a proper report.

    “When time is right and they have logged the well, they will issue a proper report. Oil finds are usually reported when the well has been drilled and logged,” said one industry analyst.

    “They did not handle release of the Ngamia 1 well discovery properly. Perhaps they are being careful based on the negative publicity that came with it,” said an industry analyst.

    Tullow’s manager for Kenya, Martin Mbogo, declined to respond to questions on the Twiga well.

    The company’s spokesperson for Kenya, Anne Kabugi, was non-commital with the details but did not refute the information.

    “We have not made anything public yet,” Ms Kabugi said on telephone.

    Tullow has operations on five blocks including 10A, 10BA, 10BB, 13T, 12A and 12B and is also a non-operated partner in off-shore block L8 where American oil exploration company Apache Corporation is the operator.

    Tullow was on September 29 expected to start exploration at the Paipai-1 well located in Block 10A where drilling is planned to a total depth of 4,112 meters even as it tests Cretaceous and Jurassic sandstone targets.

    Tullow Oil plc holds a 50 per cent working interest in the well while Africa Oil has a 30 per cent working interest in the Block.

    Mr Heya said eight ultra-deep offshore blocks were gazetted by the minister for Energy in March, bringing to 23 the number of major explorers on Kenya’s 46 exploration blocks.

    “We have never discovered gas off shore but we are making good progress. Apache is continuing with Mbawa,” said Mr Heya.

    Another US firm, Anadarko, will in late November begin drilling for natural gas in two wells in Lamu.

    Exploration activity is taking place in both on-shore and off-shore blocks located in Kenya’s four major basins – Anza, Lamu, Rift and Mandera with a view to discovering commercially viable deposits and reduce reliance on imported oil.

    Kenya imports 3.6 million tonnes of refined petroleum products annually.

    This is equivalent to a per capita consumption of 94.4 kilogrammes, which is still below the average for developing economies – a development that has been attributed to slow economic growth and over dependence on rain-fed agriculture.

    By: Zeddy Sambu

    25 June, 2014 - CFO of Taipan Resources Reveals All

    VANCOUVER, British Columbia, June 25, 2014 (GLOBE NEWSWIRE) -- Joel Dumaresq, CFO and Director of Taipan Resources (TSX-V:TPN) is a veteran merchant banker with a specialty in Mergers and Acquisitions. Mr. Dumaresq recently sat down for an exclusive interview with Financial Press to discuss oil and gas opportunities in Africa.

    FP: This morning Africa Oil announced a "basin opening" gas discovery at the Sala-1 well in Kenya, close to Taipan's property. According to Taipan's website, the Company's risked assets may be worth six times its current market cap of $41 million.

    Dumaresq: Africa Oil's news confirms that there are hydrocarbons in the Anza Basin. We are confident that we can succeed and create wealth for investors in Kenya. These are sizable targets and any of the wells we plan to drill in 2014 or 2015 have the potential to transform the Company. When Africa Oil made its first discovery in the Lokichar Basin of Kenya, the stock jumped from a $200M market cap to well over $1B.

    Read Full Article

    24 June, 2014 - Sala-1 Discovery In East Africa Accelerates Rift Basin Consolidation

    Africa Oil Corp Opens up New Basin with Gas Discovery

    This morning Africa Oil Corp. (TSX:AOI) announced a gas discovery at the Anza Basin Sala-1 well located on Block 9 in Kenya. This is the first major basin opening discovery in the Anza Basin and is expected to result in significant further appraisal and exploration wells to be drilled on trend with Sala-1. The Sala-1 discovery encountered three zones of interest over a 1,000 metre gross interval, with the upper interval testing at 6 million cubic feet per day of dry gas. The well also encountered oil shows with potential for oil down-dip on the structure. Africa Oil Corp is the operator of Block 9 with a 50% interest, with Marathon Oil (NYSE:MRO) owning the remaining 50% interest in Block 9.

    Read Full Article

    Jun 10, 2014 - Smaller firms will lead East Africa's oil and gas development

    LONDON, June 10 (Reuters) - Smaller oil explorers willing to take financial and operational risks will lead the development of East Africa's oil and gas industry as majors ditch riskier projects as margins fall, executives from several oil and gas firms said on Tuesday.

    The region has emerged as a significant prospect for the export of liquefied natural gas (LNG) because of the size of natural gas discoveries there and its proximity to Asia's major LNG consumers.

    The U.S. Geological Survey has estimated that more gas lies off the shores of Kenya, Tanzania and Mozambique than off Nigeria, Africa's biggest energy producer.

    However, high development costs and low profit margins in the gas sector worldwide have made large oil and gas companies more hesitant to commit to risky and expensive investments.

    This reluctance paves the way for smaller explorers, such as Tullow Oil and Ophir Energy, who typically focus their efforts on one region or country in the hope of maximising any returns.

    "The oil and gas industry is worried about costs. Oil companies are reducing their investments and putting projects on hold," Willy Olsen, former advisor to Statoil, said at the East Africa Oil and Gas conference in London.

    "If they make oil and gas discoveries in East Africa it will be 10 to 15 years before they see revenues ... so the focus will be on small and medium-sized companies and few big players," he added.

    RACE FOR GAS

    Mozambique and Tanzania are racing to be first to export gas from Africa's eastern seaboard to transform their economies but have substantial challenges to overcome.

    Both countries lack infrastructure and technical know-how. Both lack clear oil and gas policies and legislation of the sector is uncertain. Debate continues over how much gas should be sold to foreign investors and how much should be kept for domestic use.

    Around 180 trillion cubic feet of gas has been found in Mozambique's Rovuma Basin, according to Jose Branquinho, resource assessment director at Mozambique's National Petroleum Institute. This would be enough to supply, Germany, Britain, France and Italy for some 18 years.

    "The Mozambique discoveries have changed the world - that's why people are still interested in East Africa," Miles Donnelly, commercial director at oil and gas exploration firm Bahari Resources, said on the sidelines of the conference.

    "They are on a scale which could be comparable to Qatar," he said, referring to the world's top LNG exporter.

    Companies currently exploring for gas in the region include a mix of smaller and larger players. In Mozambique Anadarko , Buzi Hydrocarbon, Eni, Petronas and Sasol are active. In Tanzania, Britain's BG Group and Ophir Energy, have been at the forefront of exploration, while Exxon Mobil and Statoil have also found gas.

    But it will be the smaller companies that get production off the ground in earnest in places such as Mozambique, executives said.

    Taipan Resources, an oil exploration company focused on Africa with a $50 million market capitalisation, hopes to start drilling for oil in northeast Kenya next year.

    "Smaller companies get on with things and have a big role to play. We bring in the medium companies, who draw in the large companies" said Max Birley, chief executive of Taipan Resources, which is based in Kenya and listed in Canada.

    "We may not have big pockets but we employ bright people who are aggressive about exploration and we drill wells which some of the majors won't drill," he added.

    * East Africa's huge gas reserves a big lure; proximity to Asia attractive
    * Smaller explorers set to kick start development
    * Majors cut investments as margins squeezed

    Written by: Nina Chestney; Editing by: Louise Heavens

    13 May, 2014 - Largest Global Drilling Prospects in 2014 Onshore Africa Offers the Most Upside for Investors

    The U.S. Geological Survey has estimated that more gas lies off the shores of Kenya, Tanzania and Mozambique than off Nigeria, Africa's biggest energy producer.

    Read Full Article

    8 May, 2014 - Big Oil Consolidates African Oil Assets

    Rift basin prospects like Badada, have delivered some of the most consistent exploration results in recent years. In Uganda, Heritage Oil drilled 6 exploration wells with 100% success in the Lake Albert Rift Basin, which is now estimated to have 1.7 billion barrels of recoverable oil resources. In Kenya, Tullow and Africa Oil have drilled wells with an 88% success rate in the Lokichar rift basin discovering over 368 million barrels of oil.

    Read Full Article

    February 18, 2014 - Billion Barrel Bonus: Taipan’s Latest Resource Injection in Kenya

    With significant industry interest, low valuations relative to resource potential, and large rift basin acreage positions, Kenyan rift oil companies Africa Oil Corp. (AOI-TSX; AOIFF-US) and Taipan Resources (TPN-TSX-V; TAIPF-US) are primed for potential takeovers.

    Read Full Article

    November 16, 2012 - Technical Analyst Meeting Invitation

    Technical Analyst Meeting Invitation - Please RSVP to TPN@kincommunications.com by Thursday, November 15, 2012. - (View Advertisement)

    Dear Sirs,

    Taipan Resources warmly invites you to a technical analyst meeting at 11:00 am on November 16, 2012 at IoD London Pall Mall - 116 Pall Mall, London, SW1 5ED, to introduce you to our portfolio of assets which currently comprise onshore Block 1 and Block 2B, Kenya.

    The technical briefing will summarise the status and technical work programmes currently being undertaken in both Block 1 and Block 2B and their resource potential.

    Special attention will be given to explaining Taipan's evolving technical understanding of Block 2B in the Anza Graben. This block is currently being farmed-out and is creating significant excitement in the industry. Taipan's recent proprietary technical work is demonstrating that the Anza Graben is likely to be the largest Tertiary-age rift-basin of the whole East African Rift system, bigger than the petroleum bearing Lake Albert and Lokichar (containing the recent Ngamia-1 oil discovery) basins.

    The Anza Garben contains Tertiary plays directly analogous to those proven to be oil bearing in the Lake Albert and Lokichar basins and it also contains additional Cretaceous plays concomitant to the proven, oil producing-plays in the Muglad and Melut basins, in southern Sudan. Given that the proven reserves of the Sudanese and Lake Albert basinsalone likely exceed 8 billion barrels of crude oil, the potential of the Anza Graben is undeniable.

    Taipan Resources looks forward to welcoming you to this event.

    Kind regards,

    Maxwell Birley
    Chief Executive Officer