Taipan Resources Inc Kenya-based subsidiary Lion Petroleum has announced that the Badada-1 well has been drilled to a total depth of 3,500 metres MDBRT (Measured Depth Below the Rotary Table) and following completion of logging operations will be plugged and abandoned as a dry hole.<\/p>\n
The well encountered a thick and previously untested Neogene age succession in the Anza Basin, of similar age to that encountered in the Lokichar and Albertine Basins, confirming the pre-drill geological model for this part of the basin.<\/p>\n
Block 2B joint venture partner Tower Resources adds that although the well has failed to find commercial hydrocarbons, minor gas shows and traces of heavier gas molecules indicate the presence of a thermogenic source rock.<\/p>\n
The well which has taken a total of 46 days to date, compared to the Operator\u2019s expectations of 70 days in total and is expected to have been drilled under the gross budget of $25.8 million.<\/p>\n
Taipan says it proposes seeking additional time from the Government of Kenya in order to complete its evaluation of the remaining prospectivity of what is a very large 5,458 sq km Block, prior to a decision on entering the next phase of exploration.<\/p>\n
Tower Resources CEO Graeme Thomson says the well was sandier than had been expected and the development of sealing claystones is less than had been hoped.<\/p>\n
\u201cThis was the first well to drill the thicker undisturbed Tertiary section in the Anza Basin, close to the basin-bounding faults and potentially analogous to Tullow Oil\u2019s Ngamia discovery in the South Lokichar Basin. Drilling results suggest that the section here is sandier than had been expected and the development of sealing claystones is less than had been hoped. This was always the principal risk for the play. We shall be evaluating the results of the well to assess the remaining prospectivity in this very large area,\u201d said Graeme.<\/p>\n
Taipan Resources and Operator of Block-2B with 30% working interests \u00a0while Tower Resources and Premier Oil have 15% and 55% respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"