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Taipan Resources Inc.

03:43 PM EST - Taipan Resources Inc. : through its Kenya-based subsidiary Lion Petroleum, is pleased to provide the following update on drilling operations for the Badada-1 well, Block-2B, onshore Kenya. The Badada-1 well commenced drilling operations on January 7 and has been drilled to a total depth of 1,647 metres MDBRT (Measured Depth Below the Rotary Table). A 13 3/8- inch casing has been successfully run to 1,644 metres MDBRT and cemented in the 17 1/2-inch hole and the well is currently preparing to drill ahead with the 12 1/4 -inch hole section to the next casing point which is expected to be at TD. Taipan Resources Inc. shares V.TPN are trading down $0.015 at $0.14.