Taipan Resources Secures Greatwall Drill Rig for Badada Well

Taipan Resources (TSXV:TPN,OTCQX:TAIPF) announced that its Kenya based subsidiary Lion Petroleum has entered into a letter of intent with Greatwall drilling to use its GW-190 rig for the planned Badada well. The Badada well is targeting 251mmbbl of oil in the Tertiary rift play.

According to the press release:

Ground has been broken on the Badada well site on Block 2B in the Anza Basin, where a water well is presently being drilled and site preparation underway in advance of the delivery of the rig. Taipan has also contracted or is in the process of contracting with a number of local Kenyan companies from the surrounding area for a range of services including site construction, road repair and the provision of food and other supplies.
It is anticipated the well will be spud between mid-December 2014 and mid-January 2015, and will take approximately 70 days to complete.

Click here to read the Taipan Resources (TSXV:TPN,OTCQX:TAIPF) press release