NAIROBI, KENYA--(Marketwired - Oct. 11, 2013) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) is pleased to announce that the Company has appointed Mr. Paul Logan as Exploration Manager.
Mr. Logan was previously Chief Geologist at Heritage Oil Plc, where he was part of the team that discovered approximately 1.75 billion barrels of oil in Uganda on Blocks 1 and Block 3A in the Albert Basin of Uganda, and over 9 trillion cubic feet of natural gas at the Miran Gas Field in Kurdistan. In Uganda, Block 1 and Block 3A were operated by Heritage Oil Plc and the discoveries included the world-class Kingfisher, Warthog, and Buffalo-Giraffe fields where six discovery wells were drilled between 2006 and 2009 with 100% exploration success. Two of the wells on the Kingfisher Field tested at over 12,000 barrels of oil per day and the Buffalo-Giraffe Field is considered to be the largest onshore oil field to be discovered in Sub-Saharan Africa in more than two decades. In January 2010, Heritage announced the sale of its 50% interest in Blocks 1 and 3A in Uganda by its wholly owned subsidiary, Heritage Oil & Gas Limited, to Tullow Uganda Limited for US$1.45 billion.
Mr. Logan has over 36 years of experience in exploration with British Gas, Getty Oil, Hamilton Oil, BHP Billiton, and Heritage Oil Plc.
Mr. Maxwell Birley commented, "We are very pleased to have Paul joining the Taipan team. Paul's exploration success in Uganda is directly analogous to the Tertiary rift oil prospects that Taipan has on Block 2B and to the existing discoveries to date in Kenya. Paul's success and experience in Uganda will be invaluable to Taipan as the Company commences its drilling program on Block 2B."
About Taipan Resources Inc.
Taipan Resources Inc. (TSX VENTURE:TPN) is an independent Africa focused oil exploration company with interests in 7.43 million gross oil and gas exploration acres (30,054 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9M acres / 7,807 km2) and a 20% working interest in Block 1 (5.5M acres / 22,247 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Taipan. As a result, Taipan cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Taipan will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.