Taipan Resources Inc. 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.”
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