important milestones look like they'll be missed in Kenya? I would assume that TPN is going to exit Kenya and focus on Pakistan gas? Anyone have any insights? thx
The Ministry of Energy of Kenya has agreed to a six-month extension to the first additional exploration period to Nov. 30, 2015, in order for the company to complete the assessment of the remaining prospectivity of block-2B, and as a result of the continuing legal action relating to the temporary injunction served upon Lion, Premier and other named parties highlighted in the news release dated Dec. 11, 2014 (Taipan updates on Badada well progress and continuation of work), which has prevented operations over the majority of the block. This will give Lion Petroleum and Tower Resources time to complete their remaining technical assessments, and review their strategy with respect to block-2B.
In addition, Taipan has been notified by Afren/East African Exploration, its partner on block 1, Kenya, that as a result of security concerns in the area, the government of Kenya's Ministry of Energy has granted a 15-month extension to the current second additional exploration period from Oct. 8, 2014, to the Jan. 7, 2016. At the expiry of the extension period, the situation will be further reviewed. Afren/EAX and Lion Petroleum have a two-well commitment on the block during the current exploration period.