VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) is pleased to announce the addition of Adam Zive to the Board of Directors of Taipan Resources Inc.
Mr. Zive brings significant international investment banking experience with Credit Suisse, Renaissance Capital, and HSBC, in London, New York, Hong Kong SAR, Lagos, and Toronto. Mr. Zive has spent his career focused on investment opportunities and transactions in the global oil and gas industry and was the former Head of Oil & Gas Research Africa at Renaissance Capital. Mr. Zive has made numerous television appearances including on CNBC Africa, has been quoted in such international publications as Forbes Magazine and Barrons, and was previously ranked Superleague Analyst by Brendan Wood International.
Mr. Charles Watson commented, "Mr. Zive's combination of in-depth knowledge of the financial markets, corporate transactions, and the global and African oil and gas industry, will be invaluable in optimizing Taipan's strategic options during the next phases of the Company's development."
Mr. Stephen Jackson has accordingly stepped down as a Director of the Company.
About Taipan Resources Inc.
Taipan Resources Inc. (TSX VENTURE:TPN) is an independent Africa oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 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 (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan's total mean net unrisked prospective resources on the Blocks are estimated to be 530 million barrels of oil equivalent. Taipan is traded on the TSX Venture Exchange with the symbol TPN.
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.
This news release contains forward-looking statements relating to the timing and completion of a farm out for Block 2B, the timing and completion of exploration programs on Block 1 and Block 2B, the future operations of Taipan and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the completion of a farm out for Block 2B and the completion of exploration programs on Block 1 and Block 2B, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Taipan's expectations are risks detailed from time to time in the filings made by Taipan with securities regulations.
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.
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.