The well which will take 70 days to complete will test tertiary age reservoirs similar to those in Block 10BB, 13T in the Lokichar basin where Tullow and its partner have discovered oil.

 

According to Taipan CEO Maxwell Birley the spudding of Badada-1 well is an important milestone by the company which is yet to drill an exploration well since acquiring its licence.

 

“Since acquiring the Kenya-based assets of Lion, the Taipan team has identified the Badada prospect after acquiring two seismic surveys on Block 2B, building on legacy data from an earlier period of exploration, and then successfully financed the drilling through a combination of capital raises and farm downs. We along with our partners Tower Resources and Premeir Oil are extremely excited about the opportunity that Badada presents as a potential play opener which could generate potential upside from a follow-on exploration programme,” says Birley.

 

Taipan estimates gross mean unrisked recoverable resources of 251mmboe according to estimates from an assessment by Sproule International Limited in February 2014 which was an updated assessment from one carried out by the same company in December 2013.

 

Taipan holds 30% working interest in Block 2B while Premier Oil holds 50% and Tower Resources 20%.

Source : OIL NEWS KENYA