Press release from Marketwire
Taipan Resources Inc. Announces Completion of FTG Survey on Block 2B Onshore Kenya
Thursday, April 18, 2013
Taipan Resources Inc. Announces Completion of FTG Survey on Block 2B Onshore Kenya08:44 EDT Thursday, April 18, 2013
NAIROBI, KENYA--(Marketwired - April 18, 2013) - 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 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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
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.
Taipan Resources Inc.
Kin Communications Inc.
604-684-6730 or 1-866-684-6730