1. Taipan farm-out—Q2-Q3 2013:
The most recent NI 51-101 compliant resource estimate on Taipan’s Block 2B from Sproule International estimates an unrisked prospective resource of 387 million barrels. Coming from 17 leads, with prospects ranging in size from 2.5 million barrels to 128 million barrels, with potential for multiple stacked horizons.
Recently the company announced that it has wrapped up the first phase of the exploration period. In doing so, they have effectively competed what was to be a 3-year work program, in only 8 months. It is expected that Taipan will soon announce the initiation of an additional exploration period that will include the drilling of its first well.

2. Spudding of Bahasi-1 (formerly “Kinyonga”)—Q3 2013:
Scheduled to spud in Q3 2013, the upcoming Bahasi-1 well is expected to be a huge boost to the Africa Oil/Marathon partnership, as well as for their neighbors. Drilling both tertiary and cretaceous rock, the goal of Bahasi to target a structure believed to be 60 metres in thickness. From a geological perspective, the play has what it takes to be big: it’s a large anticlinal structure, trapped by a 4-way closure, which keeps the hydrocarbons they are targeting in place.
But the true excitement regarding the play’s potential comes from the fact that over 6 billion barrels of oil have been discovered along trend in Sudan, under very similar geologic conditions.
This is one of, if not THE biggest target being drilled onshore in East Africa this year, and would provide a regional catalyst for all players, says Adam Zive, a director of Taipan Resources.
“I think the potential analogue that the market is probably not appreciating enough is particularly this Bahasi-1 well on Block 9 right beside us,” says Zive. According to Africa Oil’s presentation, this prospect has a best estimate of 320 million barrels and a high estimate of 656 million barrels.

I just got a mailing from Africa oil about their annual general meeting on June 3rd, Murchr, Hisah or anyone else, did you guys also get it? Its 36 pages long and why lie hakuna vile I will read all that, but it seems like the main agenda is to elect the 5 directors. I was literally going to sell off my shares tomorrow, not because I don't believe in AOIFF but because there's opportunity to make more money elsewhere then come back to it. June 3rd is 3 trading days away though, I wonder how the stock will perform after the meeting?!

Thanks ycsun, that puts stuff into perspective but 2 weeks is a long time away!