StockMarketWire.com - Tower Resources noted the announcement yesterday by Taipan Resources regarding the planned Badada-1 well, onshore Kenya.

It received formal notice from the High Court of Kenya of a temporary injunction preventing the company from working on the Badada-1 well site.

Taipan is operator and has a 30% working interest. Other working interests included Tower (15%) and Premier Oil (55%).

Taipan stated that its 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." At 9:06am: [LON:TRP] Tower Resources PLC share price was -0.1p at 0.63p



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