TAAT Global Alternatives Inc C.TAAT

Injunction Order

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Taipan Reports on Temporary Injunction Order

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NAIROBI, KENYA--(Marketwired - Nov. 17, 2014) - Taipan Resources Inc. ("Taipan", "the Company") (TSX VENTURE:TPN)(OTCQX:TAIPF) announces that the Company's wholly-owned Kenya-based subsidiary, Lion Petroleum Inc. ("Lion"), has received today 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 the lawsuit as co-respondents are the Kenyan Cabinet Secretary, Ministry of Petroleum, the Honorable Attorney General of Kenya, the Chairperson of the National Land Corporation and Premier Oil plc.
Based on legal advice received the Block 2B partners are confident that the injunction will be revoked such that the Company can progress to its projected spud of the Badada-1 well in early January 2015.
About Taipan Resources Inc.
Taipan Resources Inc. (TSX VENTURE:TPN)(OTCQX:TAIPF) is an independent, Africa- focused oil exploration company with interests in Block 1 and Block 2B onshore Kenya through its wholly owned subsidiary Lion Petroleum Corp.
Taipan operates and holds a 30% working interest in Block 2B (1.35 million acres / 5,464 km2) and a 20% working interest in Block 1 (5.497 million acres / 22,246 km2) which is operated by East Africa Exploration (Kenya) Ltd, a subsidiary of Afren plc.
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. 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.
By definition of the COGC Handbook - "Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered." Further the Handbook states - Caution (per NI 51-101/5.9(2)(v)(B)) - "There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources." In addition, per NI 51-101/5.6 "the estimated values disclosed do not represent fair market value."
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.





FOR FURTHER INFORMATION PLEASE CONTACT:







Contact Information:
Taipan Resources Inc.
Theo van der Linde, Corporate Secretary
+1 [phone] (Office)
+1 [phone] (Canadian Cell)
+1 [phone] (US Cell)
[e-mail] / www.taipanresources.com


For Investor Relations Contact:
Kin Communications Inc.
+1 [phone] or +1 [phone]
[e-mail]
www.kincommunications.com


For Investor Relations (Europe) Contact:
Vigo Communications
[phone]
www.vigocomms.com