Badada-1 Well Drilling Update in Kenya’s Block 2B

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Taipan Resources through its Kenya-based subsidiary Lion Petroleum has provided the following update on drilling operations for the Badada-1 well, Block-2B, onshore Kenya.

The Badada-1 well commenced drilling operations on 7 January 2015 and has been drilled to a total depth of 918 metres MDBRT (Measured Depth Below the Rotary Table) intersecting a Neogene sequence.

A 20-inch casing has been set at 298 metres MDBRT and the well is currently drilling ahead with the 17 1/2-inch section to the next casing point.

The plan is to drill the well to a total depth of between 3,000 and 4,000 metres in order to test primary targets in Tertiary age reservoirs. Lion, the operator on Block-2B, expects the well to take up to 70 days to complete.

The Company will provide further operational updates as the Badada-1 well progresses. A comprehensive update will also be provided once operations on the Badada-1 well have been fully completed and analysed.

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