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Thursday, October 23, 2014
Taipan Resources announced that its recent independent assessment of its prospective resources on Kenya’s Block 1 has been completed. The assessment was carried out by RPS Energy with an effective date of October 15. The total gross aggregate mean prospective resources on Block 1 in the report are estimated at 1,303 million barrels oil (260 million barrels Taipan working interest).
The largest identified feature is the El Wak lead with gross mean prospective resources of 728 million barrels 1 (146 million barrels Taipan working interest). The high estimate of prospective resources for El Wak is 1,911 million barrels. 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 the end of the year.
Taipan holds a 20% working interest in the block which is operated by Afren unit, East Africa Exploration (Kenya).
Afren has a two well commitment in the current exploration period in Block 1.
Paul Logan, exploration manager for Taipan commented, “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.”
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