Taipan Announces Temporary Injunction Order Lifted at Badada-1 Wellsite

Taipan Announces Temporary Injunction Order Lifted at Badada-1 Wellsite

Further to the announcement dated November 17, 2014, Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) (“Taipan”, “the Company”) reports that the Lawyers representing the Company’s wholly-owned Kenya-based subsidiary, Lion Petroleum Inc. (“Lion”), have appeared in the High Court in Nairobi on November 21, 2014 seeking a variation to the conservatory orders issued with respect to drilling activities on Block-2B.

Taipan is pleased to announce that the Court agreed to vary its conservatory orders to allow the Operator to continue preparations for drilling at the Badada-1 wellsite.

Subsequently, on November 25, 2014, lawyers representing the Operator appeared in the High Court in Nairobi where the County Government of Wajir was permitted to join the petition as an interested party alongside Taipan, Lion and Premier Oil plc, the Ministry of Energy & Petroleum Kenya, the Attorney General’s Office Kenya and the Department of Lands Kenya (the “parties”).

At the request of lawyers acting on behalf of the parties, it was deemed by the High Court that the two outstanding petitions against the parties be consolidated and heard as one petition before the High Court on December 10, 2014.

The variation to the conservatory orders and consolidation of petitions signifies meaningful progress allowing the Operator to continue work at the Badada-1 well-site. Taipan and the Block-2B joint-venture partners remain confident that the remaining petitions will be over-ruled at the next Court hearing and will remain on schedule to spud the Badada-1 well in early January.

Source: Taipan Resources Inc

Oil and Gas Press

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