An independent assessment carried out by RPS Energy on behalf of Taipan Resources Inc. has resulted in an increase in Taipan’s total gross aggregate mean prospective resource on Block 1 in northern Kenya to 1,303 million bbl of oil. Of that total, Taipan holds working interest in 260 million bbl.
The El Wak lead represents the largest identified feature on the block, with gross mean prospective resources of 728 million bbl, of which Taipan holds interest in 146 million bbl. The high estimate of prospective resources for El Wak is 1,911 million bbl, of which the company holds interest in 382 million bbl.
The El Wak lead is a four-way dip closed structure at surface overlying 1,200-sq-km of gravity high. A 290-km 2D seismic shoot is planned over the prospect before yearend.
Taipan holds 20% interest in the 22,246-sq-km Block 1 through wholly owned subsidiary Lion Petroleum Corp. (OGJ Online, May 17, 2012). The block is operated by East Africa Exploration (Kenya) Ltd., a subsidiary of Afren PLC, which has a two-well commitment for the block’s current exploration period.
Taipan operates the 5,464-sq-km Block 2B with 30% interest (OGJ Online, Mar. 6, 2014).
