Taipan Resources Inc. Announces Completion of FTG Survey on Block 2B Onshore
NAIROBI, KENYA -- (Marketwired) -- 04/18/13 -- 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
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
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
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
. 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
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.
Taipan Resources Inc.
Taipan Resources Inc.
Kin Communications Inc.
604-684-6730 or 1-866-684-6730
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