Taipan Resources Inc. announce that an independent assessment of the Company's prospective resources on Block 1, northern Kenya has been completed by RPS Energy in the United Kingdom (RPS). The independent assessment was carried out in accordance with the standards established by the Canadian Securities Administrators in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The effective date of the report is October 15, 2014.
The total gross aggregate mean prospective resources on Block 1 in the report are estimated at 1,303 MMbbls 1 oil (260 MMbbls Taipan working interest).
The largest identified feature is the El Wak lead with gross mean prospective resources of 728 MMbbls 1 (146 MMbbls Taipan working interest). The high estimate of prospective resources for El Wak is 1,911 MMbbls 1 (382 MMbbls net to Taipan).