Taipan Resources Inc. 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."

Tags: Taipan Resources