Taipan Resources

CORPORATE PRESENTATION Version 15.2

6th November 2013

World-Class Oil & Gas Assets

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¡  Kenya - world’s top onshore oil exploration area ¡  Estimated 22.7 billion barrels gross unrisked prospective resources in Tertiary/Cretaceous rifts following play

opening discoveries in 2012*

¡  Only 58 wells drilled in Kenya vs. 11 wells planned for next 12 months by Taipan, Tullow, Africa Oil, Afren and Vanoil ¡  Taipan is the fourth largest, gross acreage holder in Kenya with 27,712 km2 and net 328 MMBO prospective

resources ¡  Block 2B (45%) and Operator, Partners with Premier Oil plc, net 184 MMBO prospective resources ¡  Block 1 (20%) Operator Afren plc, net 144 MMBO prospective resources.

¡  Management of Taipan has discovered over 3.75 billion boe in similar early-stage basins with success rates from 50% to 80%

¡  Farm in Agreement signed with Premier Oil on the 3rd October 2013

¡  Premier earn 55% interest for a gross investment up to $30.5 mm ¡  Taipan fully funded through the drilling of first well on Block 2B.

¡  Near Term Drilling

¡  Africa Oil, Block 9: Bahasi-1 Drilling, 320 MMBO ¡  Africa Oil, Sala Prospect spud Q4 of 2013, 402 MMBO ¡  Afren Block -1 Khorof Prospect spud Q3 2014, 390 MMBO ¡  Taipan Block 2B Pearl Prospect spud Q3 2014, 200+ MMBO

¡  Taipan drilling plan in next 12 months exposed to gross 590 MMBO prospective resources, 166 net MMBO ~$1.245 billion unrisked NPV

* AOC 2013 Corporate Presentation

Block 1

Block 2B

12 month drilling plan exposes Taipan to $1.245 billion un-risked NPV

Taipan Key Management 3

Max Birley, CEO and Director •  34 years international exploration & production experience •  Discovered over 2.0 BBOE in 8 fields across 3 continents, 50% Success rate for Exploration wells •  Senior roles with Marathon, Premier, Oil Search, •  Involved with producing projects totalling 500,000 boepd •  In-country operating experience - Equatorial Guinea, India, Pakistan, Yemen, Kenya •  Managed & developed multi-billion dollar African assets

Paul Logan, Exploration Manager •  Over 35 years’ experience in international exploration •  Have found 1.75 billion bbls oil equivalent , 80% success rate for exploration wells •  Previously Chief Geologist at Heritage Oil responsible for Uganda •  Worked with British Gas, Getty Oil, Texaco, Hamilton Oil, and BHP. •  20 years working in Africa, including Uganda and Tanzania

Joel Dumaresq, CFO and Director •  +20 years experience in the financial sector •  Former financial and investment banking roles with RBC Dominion Securities •  12 years Managing Director of Matrix Partners Inc. – Vancouver based private equity and merchant banking firm •  Extensive M&A expertise

Charles Watson, N.E.D. •  +30 years experience including Bechtel and Royal Dutch Shell, Former Chairman of Shell Russia and Sakhalin Energy •  Former Executive Vice President Royal Dutch Shell Russia & CIS, Shell Energy Europe, Shell Gas and Power & Exp. &

Production for Africa & the Middle East

Recent Commercial Activity in Kenya Over $200 million farm-in activity in the last 12 months

4 **Source: Africa Oil Corp

Block 11B Bowleven

Block 9 (+12A) Marathon

Basemap modified from NOCK

Block 7/8 New Age

South Omo Marathon Oil discovery Oil seep

Block 2B Premier

Block 2A Ajax

Year Seller Buyer Blocks (% Interest) Gross Investment

$mm

2013 Taipan Premier 2B (55%) 30.5

2013 Simba Ajax 2A (66%) 36.5

2012 Africa Oil Marathon 9 (50%), 12A (15%) 78.5

2012 Agriterra Marathon South Omo (20%) 50

2012 Admantine Bowleven 11B (50%) 10

2012 Africa Oil New AGE Ethiopia 7/8 (25%) 1.5

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Source: NOCK

Limited offshore licensing only

Licensing Comparison 2000

“Surrounded By Success” Proven Plays & Discoveries

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Uganda

L8 / Mbawa Gas Disc. >50m

Cretaceous pay

Albert Basin >2.5 bn bbls oil in the Tertiary

Tarbaj Oil Seep Jurassic sands

Genale Jurassic Oil seep

Heglig+Unity Field 594 mmbbl of oil

Muglad & Melut Basins

6 bn bbls oil in Cretaceous plays

Anza Basin All 10 wells drilled in basin

have oil/gas shows

Ogaden Basin >4 TCF gas in Karoo & Jurassic

plays + El Kuran oil

El Kuran Oil Disc.

Lokichar Basin Ngamia, Twiga

, Ekales and Etuko Oil discoveries in Tertiary

sediments ++250 mmbbls

Paipai Oil shows in Cretaceous To be tested

Hilala and Calub Gas and oil fields

Kubwa well Oil shows

Turkana Basin Sabisa Oil

encountered in Tertiary sediments

Block 2B & Block 9 - Contiguous Exploration Trends & Significant Potential

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Pearl Prospect Xx km2 xx mmbbl

Anza Basin BLOCK 2B

BLOCK 9

50 0 kilometres

Bahasi-1 Prospect Drilling

60 km2 320 mmbbl

Sala-1 Prospect Spud Q4 2013

100 km2 402 mmbbl

Basement Area

Basement Area

ANZA-1

BOGAL-1

NDOVU-1

DUMA-1

KAISUT-1

HOTHORI-1

Pearl Prospect Spud Q3 2014

43 km2 200 mmbbl +

Comparison of Block 2B & Lokichar Basin

¡  Both basins contain analogous “string of pearls” and “tilted fault block” structural plays

¡  Average Prospect size in Lokichar is 200 MMBO ¡  Current Success rate 100%

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20 0

kilometres

2B Block Outline

HOTHORI-1

Block 2B: Anza Basin – Late Miocene Age Rift Lokichar - Late Miocene Age

“String Of Pearls” Play Ngamia , Twiga & Ekales

oil discoveries

“Tilted Fault Block” Play Etuku Discovery

Block 2B PSC and Work Program Summary

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Block 2B Commitment •  25 km2 3D for $7 mm •  Drill Exploration well to 3000m $6.0 mm •  Total $13 mm

Premier Farm-in Summary •  Taipan retains Operatorship •  $1.0 million Back Costs •  Forward costs gross to $29.5 million

2013 2014 Q4 Q1 Q2 Q3 Q4 O N D J F M A M J J A S O N D Geological Studies Seismic Acquisi>on Drilling Planning Mobiliza>on/ Construc>on Drilling Explora>on Period First Addi>onal Explora>on Period

Block 2B Timeline

Initial Exploration Period & Extension Seismic Acquisition + FTG Survey

2008

PSC Signed 17-09-2008

2009 2010 2011 2012 2013 2014 2015 2016

End IEP Ext. 1-06-2013

End 1st Add. EP 1-06-2015

End 2nd Add. EP 1-06-2017

1st Additional Period 1 Well + 3D seismic

2nd Additional Period 2 Wells + 3D seismic

2017

Drilling Activity •  Fully funded for First well •  Well to spud Q3 2014 •  Well $18 to $25mm

Comparison of Ngamia-1 and Pearl-1 Prospect

9 Source: Africa Oil Corp website / 2013-03-18_CP.pdf

Top Auwerer Oil Zones

Top Lokhone Shale

Top Lokhone Ss

P1 closing contour

2 km

P1 closing contour Pearl

Gross Oil Resources “ Ngamia & Pearl

Prospect 2C (MMBO)

BE MMBO GCOS

Ngamia 180 281 64%

Pearl 200 30%

Block 2B Pearl Prospect

Ngamia

Comparision of Etuko-1 and RFB -4 Prospect

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Source: Africa Oil Corp website / 2013-03-18_CP.pdf

P1 closing contour

RFB 4

Block 2B RFB-4 Prospect

Gross Oil Resources “ Etuko & RFB-4

Prospect 2C (MMBO)

BE MMBO GCOS

Etuko ? 100 34%

RFB-4 100 20%

Block 1 PSC and Work Program Summary

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•  Currently in First Additional Exploration Period.

•  Acquired 1,900 km of 2D seismic and Gravity/ Magnetics in Initial Exploration Period

•  Seismic interpretation on-going

•  Committed to a 3000m well for $6.0 million

•  Committed to 25 km2 of 3D seismic

•  Exploration well expected in mid-2014

Block 1 Timeline

Initial Exploration Period & Extension Seismic Acquisition + FTG Survey

2008

Commencement 8-10-2008

2009 2010 2011 2012 2013 2014 2015 2016

End IEP Ext. 8-10 -2012

End 1st Add. EP 8-10-2014

End 2nd Add. EP 8-10-2016

1st Additional Period 1 Well + 3D seismic

2nd Additional Period 1 Well + 3D seismic

2017

Block- 1 Summary & Prospects

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•  22,247 km2, 20% working interest, Afren 80%, Operator

•  Gross unrisked prospective resources 715MMBO

•  Net to Taipan = 143 MMBO •  Khorof Prospect 380 MMBO gross

Drilling Activity in Kenya Two tested oil discoveries, 3 wells with oil shows that will flow on test, 6 wells to be drilled in next 12 months next to or near Taipan acreage

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El Kuran El Kuran-3

Drilling

Ngamia,Twiga Ekales and Etuko

Oil Discoveries 100% Success Rate

Sabisa-1 Oil Shows

Block 9 Sala Prospect

402 MMBO Spud Q4 2013

Block 3A Madogashe Prospect

Drilling

Block 1 Khorof Prospect

390 MMBO Spud 2014

Paipai-1 Light oil shows, 180ft

sand, 656ft Cretaceous source rock interval

Block 2B Pearl Prospect

200 MMBO Spud 2014

Kubwa well Oil shows

Tultule-1 Drilling

Block 9 Bahasi-1Prospect

320 MMBO Drilling

Oil discovery & shows or Drilling

Drilling or planned

Albert Basin 80% Success Rate

Summary and Next Steps ¡  Taipan Resources (Lion Petroleum Corp) signed Farm in Agreement with Premier Oil on the 3rd October 2013.

Premier will earn a 55% working interest for a gross investment of up to $30.5 million. FO expected to close year end.

¡  Premier Oil plc is a leading FTSE 250 independent exploration and production company with interests in the North Sea, South East Asia, the Middle East, Africa, Pakistan and the Falkland Islands with a current market capitalisation of circa $3.0 billion

¡  Taipan is fully funded through seismic and the drilling of the first well on Block 2B ¡  The certified resource estimate for 100% of Block 2B is currently 410 million barrels unrisked prospective resources.

A new CPR including the new seismic and FTG data will be published in December 2013

¡  Africa Oil, Block 9 has spudded the Bahasi well and will drill the Sala Prospect in Q4 2013.

¡  Vanoil Block 3A is preparing to drill the Madogashe Prospect

¡  Taipan Block 2B, plans to drill the Pearl Prospect in Q3 2014

¡  Afren, Block 1 plans to drill the Khorof Prospect in Q3 2014

¡  Taipan drilling plan in next 12 months exposed to gross 590 MMBO prospective resources, 166 net MMBO ~$1.245 billion unrisked NPV

¡  Taipan will identify additional Exploration Assets in Africa in order to expand its exposure to additional exploration drilling

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Share Structure

Share Structure Issued & Outstanding 85,299,363

Warrants 53,341,886

$0.12 per share until March 2015 $0.60 per share until July 2017 $0.50 per share until February 2018

19, 400,000 23,523,540 10,418,346

Options 8,100,000

Fully Diluted 146,741,249

15 As at 14th October 2013

Disclaimer

This presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities in Taipan Resources Inc., nor shall it or any part of it form the basis of or be relied on in connection with or act as any inducement to enter into any contract or commitment whatsoever. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this presentation or on any other document or oral statement or on the completeness accuracy or fairness of any such information and/or opinions. No undertaking, representation, warranty or other assurance express or implied is made or given by or on behalf of Taipan Resources Inc. or any of its directors, employees or advisors, as to the accuracy or completeness of the information or opinions contained in this presentation and, save in the case of fraud, no responsibility or liability is accepted by any of them for any such information or opinions or for any errors, omissions, misstatements, negligence or otherwise contained or

referred to in this presentation. This presentation includes "forward-looking statements" including forecasts, estimates, expectations and objectives relating to the Company’s exploration activities in Africa that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding future exploration activities, financings and capital expenditures are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement except as required by applicable law.

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Contact Information Max Birley, CEO +254 70564 3745 (Kenya)

+1 830 998 2252 (USA)

[email protected]

Joel Dumaresq, CFO +(604) 306 4000 (Canada)

+(604) 336 3193 (Canada)

[email protected]

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Investor Relations

Taipan Resources