{"id":3028,"date":"2015-05-28T16:35:07","date_gmt":"2015-05-28T16:35:07","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=3028"},"modified":"2015-05-28T16:35:07","modified_gmt":"2015-05-28T16:35:07","slug":"premier-oil-withdraws-kenyas-block-2b","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/premier-oil-withdraws-kenyas-block-2b\/","title":{"rendered":"Premier Oil withdraws from Kenya\u2019s Block 2B"},"content":{"rendered":"

Kenya\u2019s block 2B operator Taipan Resources has announced that its majority partner Premier Oil with 55% interest has exercised their right to withdraw from the license effective April 30th\u00a02015.<\/p>\n

Following the withdrawal of Premier Oil the working interests for Taipan through its Kenya-based subsidiary Lion Petroleum and Tower Resources plc in the Block will be adjusted on a pro-rata basis (Lion 66.66%, Tower 33.34%) for the remaining approximately six months of the current licence phase.<\/p>\n

According to Taipan CEO Maxwell Birley Premier Oil has met all their commitments in the joint venture to date.<\/p>\n

“While we are disappointed to see Premier Oil exit the block, we are appreciative of the fact that they met all their commitments to the joint venture, and proved an excellent partner through the drilling process. We would welcome the opportunity to partner with Premier Oil again in the future,” he says.<\/p>\n

Meanwhile Taipan has announced that the Ministry of Energy, Kenya has agreed to a six month extension to the First Additional Exploration Period to 30 November 2015 in order to complete the assessment of the remaining prospectivity of Block-2B, and as a result of the ongoing legal action relating to the temporary injunction<\/a> served upon Lion, Premier, and other named parties which has prevented operations over the majority of the block.<\/p>\n

Birley says this will give the Lion and Tower time to complete their remaining technical assessments and review their strategy with respect to Block-2B.<\/p>\n

Taipan further reports that de-mobilization efforts with the Badada-1 well are now complete, and that despite the disappointment of not locating commercial levels of hydrocarbons in the well, Badada-1<\/a> was drilled on budget and with no security or lost time incidents.<\/p>\n

Taipan anticipates providing additional detail on its future plans in the coming weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kenya\u2019s block 2B operator Taipan Resources has announced that its majority partner Premier Oil with 55% interest has exercised their right to withdraw from the license effective April 30th\u00a02015. Following … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":2730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[212,274,3260,1252,3261,2071,2458,2541],"class_list":["post-3028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-badada-1","tag-block-2b","tag-court-injunction","tag-kenya","tag-maxwell-birley","tag-premier-oil","tag-taipan-resources","tag-tower-resources","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/Block-2B.png?fit=560%2C420&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-MQ","jetpack-related-posts":[{"id":2254,"url":"https:\/\/www.oilnewskenya.com\/index.php\/drilling-of-badada-1-well-in-kenyas-block-2b-begins\/","url_meta":{"origin":3028,"position":0},"title":"Drilling of Badada-1 well in Kenya’s Block 2B begins","author":"Samuel Kamau Mbote","date":"January 8, 2015","format":false,"excerpt":"Block 2B operator Taipan Resources through its subsidiary Lion Petroleum has announced that the GW-190 rig has spudded Badada-1 well with the well planned to be drilled to a total depth f between 3000 and 4000 meters. The well which will take 70 days to complete will test tertiary age\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/01\/taipan-badada-1-well1.jpg?fit=576%2C1024&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/01\/taipan-badada-1-well1.jpg?fit=576%2C1024&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/01\/taipan-badada-1-well1.jpg?fit=576%2C1024&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":2096,"url":"https:\/\/www.oilnewskenya.com\/index.php\/court-lifts-temporary-injunction-order-barring-drilling-of-badada-1-in-kenyas-block-2b\/","url_meta":{"origin":3028,"position":1},"title":"Court lifts Temporary Injunction Order barring drilling of Badada-1 in Kenya\u2019s Block 2B","author":"Samuel Kamau Mbote","date":"November 27, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] The high court in Nairobi has allowed Block 2B operator Taipan Resources to continue with drilling preparations after lawyers representing the Company's wholly-owned Kenya-based subsidiary, Lion Petroleum Inc. sought a variation to the conservatory orders issued with respect to drilling activities. The court which agreed to vary its\u2026","rel":"","context":"In "Oil Politics"","block_context":{"text":"Oil Politics","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/oil-politics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-2b.jpg?fit=750%2C668&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-2b.jpg?fit=750%2C668&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-2b.jpg?fit=750%2C668&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-2b.jpg?fit=750%2C668&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":428,"url":"https:\/\/www.oilnewskenya.com\/index.php\/taipan-announces-update-on-220-million-barrel-kenyan-prospect\/","url_meta":{"origin":3028,"position":2},"title":"Taipan announces update on 220 million barrel Kenyan prospect","author":"Samuel Kamau Mbote","date":"February 4, 2014","format":false,"excerpt":"Taipan Resources Inc. has announced that BGP has commenced the acquisition of further 2D seismic data on Block 2B, onshore Kenya. The data acquired will be used to finalize the drilling location for the Pearl-1 prospect. BGP has been contracted to provide an additional 178.75 km of 540 fold 2D\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/02\/blocks.jpg?fit=468%2C628&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2729,"url":"https:\/\/www.oilnewskenya.com\/index.php\/future-drilling-kenyas-block-2b-unlikely-without-farm\/","url_meta":{"origin":3028,"position":3},"title":"Future drilling in Kenya\u2019s block 2B unlikely without a farm-out","author":"","date":"March 19, 2015","format":false,"excerpt":"Following the disappointment at the Badada-1 well in Block 2B in February the joint venture partners led by Tower Resources who says it expects no significant expenditure in 2015 with any extra drilling likely to require a farm-out. Tower Resources says it has already met all the financial commitments having\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/Block-2B.png?fit=560%2C420&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/Block-2B.png?fit=560%2C420&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/03\/Block-2B.png?fit=560%2C420&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":2065,"url":"https:\/\/www.oilnewskenya.com\/index.php\/badada-1-well-likely-to-delay-as-court-injunction-halts-operations-in-kenyas-block-2b\/","url_meta":{"origin":3028,"position":4},"title":"Badada-1 well likely to delay as court injunction halts operations in Kenya\u2019s Block 2B","author":"Samuel Kamau Mbote","date":"November 18, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Taipan Resources\u00a0 has announced that the Company's wholly-owned Kenya-based subsidiary, Lion Petroleum Inc. has received a formal notice from the High Court of Kenya of a temporary injunction preventing the Company from working on the Badada-1 well site in Block 2B, north east Kenya. Adjoined to Lion in\u2026","rel":"","context":"In "Oil Politics"","block_context":{"text":"Oil Politics","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/oil-politics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-2b.jpg?fit=750%2C668&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-2b.jpg?fit=750%2C668&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-2b.jpg?fit=750%2C668&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/06\/block-2b.jpg?fit=750%2C668&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1875,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tower-resources-more-hopeful-of-oil-find-rather-than-gas-in-kenyas-block-2b\/","url_meta":{"origin":3028,"position":5},"title":"Tower Resources more hopeful of oil find rather than gas in Kenya\u2019s Block 2B","author":"Samuel Kamau Mbote","date":"October 7, 2014","format":false,"excerpt":"Tower Resources is more hopeful of an oil find unlike a gas find in Kenya;s block 2B Badada-1 well exploration well according to a recent report by the company. 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