Taipan Resources Inc. Announces Board Appointment of Mr. Stephen Lowden
April 14, 2014 (Source: Marketwired) — Taipan Resources Inc. (TSX VENTURE:TPN) is pleased to announce the appointment of Mr. Stephen Lowden to the Board of Taipan Resources Inc as a Non-executive Director.
Steve Lowden has 28 years of wide ranging experience in international oil and gas exploration, development, production and gas liquefaction with a track record in defining strategy and creating and acquiring new businesses.
After graduating with a BSc. in Pure Mathematics and a Masters in Petroleum Engineering, Steve worked as a Petroleum and Operations engineer in the North Sea, Middle East, South East Asia and North Africa and then joined Premier Oil in 1987. Steve held a number of leadership roles at Premier in Business Development, Exploration and Production. In 1996 Steve was appointed to the Premier Oil Board of Directors as Executive responsible for Exploration and Production. Steve was also instrumental in developing a number of world scale gas projects whilst at Premier.
In 2000 Steve joined Marathon Oil Company as President of Marathon International, Head of Corporate Business Development and an Officer of the Company. From 2000 to 2005 he led the new growth strategy based on international expansion adding 1billion bbls of reserves and 100,000bopd of new production. In 2002 Steve’s responsibilities were expanded to include Marathon’s Global Integrated Gas (IG) business which included a new LNG production business.
Steve is currently founder, CEO and Chairman of NewAge which was launched in mid 2008 and has since helped NewAge to acquire 24 oil and gas concessions in seven countries, discover over 450mmboe of proven and probable reserves and build a portfolio of prospective reserves of over 2billion boe. NewAge will see its first production in 2015 and will be bringing four new fields on stream over the next 3 years.
Maxwell Birley, Taipan CEO commented: “Having worked alongside Steve at Premier and later at Marathon, I personally can attest to his vision and dynamic energy in building oil and gas exploration companies. Steve brings to Taipan’s Board a wealth of knowledge surrounding sub-Sahara African assets and opportunities. Now that we have secured and fully-financed well commitments on each of our two Kenyan exploration blocks, we plan to draw on Steve’s extensive knowledge and experience as we aggressively pursue additional assets and acreage.”
The Company further announces that it has granted incentive stock options to a director, new management hires, and a consultant to the Company to purchase up to 1,250,000 common shares in the capital stock of the Company. The options are exercisable for a period of 5 years, at a price of $0.36 per share.
About Taipan Resources Inc.
Taipan Resources Inc. (TSX VENTURE:TPN) 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 upon closing the recently-announced farm down to Tower Resources plc will hold a 30% working interest in Block 2B (1.35 million acres / 5,464km2) 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.
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.
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