1st May 2013

CORPORATE PRESENTATION

Version 13.0

Block 1, 20%, 22,247 km2 Block 2B, 100%, 7,807 km2 7.43 million gross and 3.03 million net acres Net unrisked prospective resources 530 mmbbls

Taipan Resources Inc

A World-Class Oil & Gas Team & Assets
Kenya is the top location for onshore oil exploration in the world, with Africa Oil Corporation estimating 23 billion barrels in Tertiary/Cretaceous rifts following play opening discoveries in 2012*

There have only been 42 wells drilled in Kenya vs. 17 wells planned to be drilled in the next 18 months by Tullow Oil, Africa Oil Corporation, Marathon Oil and Afren. Taipan is planning to drill its first well in the first half of 2014 Taipan is the fourth largest, gross acreage holder in Kenya with 30,054 km2 Block 1 (20%) Block 2B (100%) Management of Taipan has discovered over 2 billion barrels of oil equivalent in similar early-stage basins The Anza Basin is one of the largest Tertiary-age rift-basins of the East African Rift system which contains multi-billion barrel oil discoveries Taipan believes Block 2B is located in the "sweet spot" of the Anza Basin and plans to drill its first well in 2014 targeting the Tertiary Taipan is currently farming down its 100% interest in Block 2B Marathon Oil recently paid $57 mm for a 50% interest in Block 9 which is contiguous to Block 2B Two analogue wells for Block 2B will be spudded by Africa Oil later this year on Block 9: Bahasi-1 (formerly Kinyonga) High Estimate 656 mmbbls Sala (formerly Pundamilia) High Estimate 952 mmbbls

* AOC 2013 Corporate Presentation

Strong Board & Management Team

Max Birley, CEO and Director
+30 years international exploration & production experience Senior roles with Marathon, Premier, Oil Search, Discovered over 2.0 BBOE in 8 fields across 3 continents 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

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 Managed controlling interests in a range of private and public enterprises world-wide

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

Adam Zive, N.E.D.

Senior roles in Oil & Gas equity research with Credit Suisse, Renaissance Capital, and Desjardins Securities Former head of Oil & Gas Research, Africa at Renaissance Capital Ranked Superleague analyst by Brendan Woods

4th Largest Acreage Holder in Kenya

After Tullow, Africa Oil, & Afren
Taipan current holdings: 22,247 30,054 km2 km2 + 7,807 km2 =
South Omo Marathon $50M Oil Disc.

Taipan Resources Blocks 1 & 2B

Block 1 & 2B include multiple exploration plays in different basins Only 42 wells drilled onshore Kenya to date Vastly under-explored + 20 year hiatus in drilling All new wells drilled so far - all discoveries or have hydrocarbon shows Significant new oil discoveries in onshore Kenya in 2 separate basins (Ngamia & Twiga Lokichar, Sabisa Turkana Basins) All acreage tightly held. New blocks will have +$20 million commitments according to the MOE. Recent corporate activity in the Tertiary play amounts to ~ $117 million The Block 2B farm-out campaign is well advanced & is generating substantial industry interest

Twiga oil disc.

Paipai Suspended Oil shows

Ngamia oil disc. Block 9 Marathon farm-in $57M

Bogal-1 gas disc.

Mbawa gas disc.

Source: NOCK

Limited offshore licensing only

2012

Licensing 2000 Comparison

Recent Commercial Activity in Kenya

Approximately $117 in million farm-in activity in last few months 2012, Block 9 (50%) & 12A (15%) - Marathon farm-in (to AOC) for $57 million** 2012, South Omo - Marathon Oil acquires Agriterras 20% interest for $40+$10 million 2012, Block 11B - Bowleven farm-in (to Adamantine) $10 million for 50% interest 2011, Block 10BB - Tullow farm-in (to AOC) and drill Ngamia & Twiga Tertiary oil discoveries 2009, Block 1 - Afren farm-in (to Lion Petroleum) for $12 million Block 7/8 El Kuran oil discovery - New age farm-in (to AOC) increases interests to 40% Taipan currently farming-out 50% interest of Block 2B and expects to announce a definitive agreement
South Omo Marathon buy 20% $40+$10 million Block 11B Bowleven farm-in $10 million

Block 7/8 New Age farm-in

Block 1 Afren farm-in $12 million

Tullow farm-in in to AOC

Block 9 (+12A) Marathon farm-in in $57M

Oil seep Oil discovery Basemap modified from NOCK

**Source: Africa Oil Corp

Proven Plays & Discoveries:

Surrounded By Success
Muglad & Melut Basins 6 bn bbls oil in Cretaceous plays Ogaden Basin
Heglig+Unity Field 594 mmbbl of oil

>4 TCF gas in Karoo & Jurassic plays + El Kuran oil

Genale Jurassic Oil seep Hilala and Calub Gas and oil fields

Albertine Basin >2.5 bn bbls oil in the Tertiary

Turkana Basin Sabisa Oil encountered in Tertiary sediments

Paipai Oil shows in Cretaceous To be tested

El Kuran Oil Disc.

Bogal 1, 1-4 Tcf Cretaceous

Tarbaj Oil Seep. Jurassic sands

Uganda
Lokichar Basin Ngamia & Twiga Oil discoveries in Tertiary sediments +200 mmbbls Anza Basin All 10 wells drilled in basinproper have oil/gas shows
Kubwa well Oil shows

Lamu/Offshore Basins
Potential for Billions bbls oil+gas in the Cretaceous & Tertiary

L8 / Mbawa Gas Disc. 170ft Cretaceous pay

Drilling Activity in Kenya

2 proven oil discoveries, 2 wells with oil shows, 5 wells to be drilled in next 6 months next to or near our acreage
El Kuran 1.3 BBO El Kuran-3 spud June 2013

Sabisa-1 Drilling
(Spud 15th January 2013) Oil Shows

Paipai-1 Twiga South-1 Oil Discovery 98 ft. net pay, 2,812 bopd Potential 5000 bopd Ngamia-1A Oil Discovery >328 ft. net pay FARO 281 bopd further tests Block 2B Spud 2014 Etuko 1 to Spud
Spud within 3 months (formerly Kamba)

Light oil shows, 180ft sand, 656ft Cretaceous source rock interval

Block 1 Commitment Spud 2014

Block 3A+B 2 well commitments Spud 2Q-3Q/2013 Block L4/L13 Spud 2013

Bahasi-1 Prospect*
spud 2H/13 320 mmbbls

Sala prospect** 15 10
Wells

Historic Drilling

**402 mmbls

Bogal-1 Gas
Cretaceous 1-4Tcf

5 0 50's 60's 70's 80's 90's Decade 00's 10's *formerly Kinyonga Prospect **formerly Pundamilia Prospect

Kubwa well
Oil shows

Mbawa Gas Discovery

180 ft. pay

Oil discoveries & shows Drilling imminent

(within next 9 months)

Drilling planned
(9 18 months)

The Normal & Transform Branches of the East African Rift System

Late Tertiary (Oligo-Miocene) Basins of the East African Rift System shown The normal opening braches of the rift system are readily recognised (East + West Complexes & Ethiopia branch)

Normal Branches of East African Rift System

Transform Branch of East African Rift System

The transform branch of the Late Tertiary rift system (Anza Basin) has been overlooked The Anza Basin is one of the largest basins of the East African Rift System

Seismic Phase moving 10 Into the drilling phase

Block 2B
Taipan 100% Operator Area 7,807 km2 Initial Exploration Period Elected to enter First Additional Exploration Period

Block 2B - Anza Basin

Comparison of Scale to the North Sea & Texas

11

The Millennium Atlas: Petroleum Geology of the central and northern North Sea.

Block 2B

km

500

Block 2B equivalent to 43 North Sea Blocks Anza Basin is comparable in size to the Central Graben of the North Sea Anza Basin ~ 10 wells drilled in basin North Sea ~2408 wells drilled in basin and found multi-billion barrels of oil Remains very early stage with world-wide potential
0

Moray Firth Basin

Block 2B
Anza Basin for size comparison
km 200

Central Graben

North Sea oil, gas and condensate fields.

Anza Basin Compared to Texas

Texas 700,000 km2 vs. Kenya 570,000 km2 Since 1960 approx. 500,000 wells drilled in Texas. Probably 1,000,000 since first oil Less than 50 wells drilled to date in Kenya

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East African Basin Scale Comparison

Albertine & Lokichar Basins are each ~6,000 km2 Anza Basin ~78,000 km2

13

All diagrams = same scale

>2.5 Billions bbls

>200? mmbbls

~130 km

Sweet-Spot of the Tertiary-age Anza Basin is in Bock 2B

Paipai Prospect
Light oil shows, 180 ft. sand, 656 ft. Cretaceous source rock interval

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Cretaceous part of the Anza Basin Is indicated by the green color

Tertiary part of the Anza Basin is indicated by the blue color

Block 9

Sala Prospect
402 mmbbls

Thickest Tertiary section or best part of the basin indicated by purple

Bahasi Prospect
Oil discoveries & shows Drilling imminent
(within next 9 months)

spud 2H/2013 320 mmbbl

Block 2B

Drilling planned
(9 18 months)

Residual Gravity
(200km High-pass filter)

Hot-thinned continental crust

kilometres

200

Anza Basin: Regional Stratigraphy & Plays

15

Anza & Lokichar Source Rock Study

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Sirius-1
(Cretaceous Source)

Twiga South-1 Oil Discovery

Pseudo-well 1 Loperot-1
(Source rocks) (Modelled pseudo Well)

Lokichar Basin
Ngamia-1A Oil Discovery >328 ft. net pay

Hothori-1
(Modelled Well)

Bahati-1
(Oligo-Miocene Source)

Potential sources and oil shows from the Anza & Lokichar basins have been reviewed Both basins have a similar Tertiary history moreover, there appears to be compatible coeval source horizons in both basins Important analysed wells are shown Source rock study indicates the Block 2B area of the Anza Basin is oil prone

Block 2B Summary 100% working interest, 7,807 km2 in Anza basin

Newly identified under-explored Tertiary-age riftbasin play in the Anza Basin:
Analogous to Ngamia-1A & Twiga South-1 oil discoveries (Tullow / Africa-Oil) Lokichar Basin and Sabisa in the Turkana Basin Tertiary basin trend extends into Block 9 and Block 2B

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Wells & Seismic on Bouguer Gravity

Hothori-1 = 9500ft of Tertiary & oil/gas shows, 12 to 15,000 down dip against bounding fault Additional Potential from the extension of the oilproducing Cretaceous Melut - Muglad basins trend on to Block 2B 387 mmbbls mean unrisked prospective resources (NI 51-101 report, Sproule)
17 prospective leads so far Largest lead 128 mmbbl unrisked Management estimates significantly higher

Block 2B

Lead Summary

439 km 2D seismic program completed March 13 FTG survey completed April 13 Drilling anticipated mid 2014 End of Initial Exploration Period 1st June 2013 Two further extensions of 2 years each Development Licence for 25 years

Block 2B

Exploration Timeline

Block 2B Timeline Exploration Work Program Completed 3 years work in 8 months

439 km of 560 fold 2D seismic data acquisition & processing completed in March 2013 12,173 km Block-wide Full-Tensor Gravity gradiometry survey (FTG) finished April 2013 500 km of additional 2D seismic acquisition being planned for 2H 2013 Drilling anticipated mid 2014
Forward Plan: Time-line

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2013 New 2D Seismic Acquisition Results

Comparative Data-quality in Block 2B & Blocks 13T (Twiga discovery)
Block 2B (advanced 560-fold 2D seismic )

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Block 13T/10BB (60-120 fold traditional seismic)

439 km of new 2D seismic, high-fold (560-fold), acquired January-March 2013 The New Block 2B seismic data is obviously clearer and easier to interpret Full pre-stack time migration processing completed only 2 weeks after acquisition

Block 2B Block-wide FTG Gravity Survey - Completed

Bouguer gravity over Lagh-Bogal fault

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12,173 km block-wide FTG gravity survey completed April 2013 Line spacing : 500m x 2000m to 2000m x 6000m Survey results already revealing additional information of the detailed structure of Block 2B; E.g. the previously unrecognised rugosity of the basin bounding Lagh-Bogal fault, which helps to create the roll-over structures in the string of pearls along the basin margin

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

21

Scale & Prospectivity Comparison of Block 2B & Blocks 10BB/13T (Twiga / Ngamia Discoveries)

22

Comparison of String of Pearls Plays in Block 2B & Block 13T (Twiga discovery)
Block 2B Anza Basin Miocene Basin Stratigraphy

23

Block 13T Lokichar Basin Miocene Stratigraphy

Comparable scale examples of the Twiga discovery structure and similar structures in Block 2B Both blocks contain string of pearls plays in Miocene age basins

Comparison of String of Pearls Plays in Block 2B & Block 10BB (Ngamia discovery)
Block 2B Anza Basin Miocene Basin Stratigraphy

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Block 10BB Lokichar Basin Miocene Stratigraphy

Comparable scale examples of the Ngamia discovery structure and similar structures in Block 2B Both blocks contain string of pearls plays in Miocene age basins

Comparison of String of Pearls Plays in Block 2B & South Omo Block (Sabisa discovery)
Block 2B Anza Basin Miocene Basin Stratigraphy

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South Omo Block Turkana Basin Miocene Stratigraphy

Comparable scale examples of the Sabisa discovery structure and similar structures in Block 2B Both blocks contain string of pearls plays in Miocene age basins

Comparison of Tilted Fault-Block Plays in Block 2B & Block 10BB (Etuko Prospect)
Block 2B Anza Basin Miocene Basin Stratigraphy

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Block 10BB Lokichar Basin Miocene Stratigraphy

Comparable scale examples of the Etuko prospect and similar structures in Block 2B Both blocks contain Tilted Fault Block plays in Miocene age basins

Older Exploration wells did not test the plays. Deviated drilling is required
20 15 10 5 0

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Block 1
Taipan 20% Area 22,247 km2 First Additional Exploration Period

Block 1 Summary
20% working interest, 22,247 km2 Acreage
Block 1, 22,247 km2, 20% working interest, Afren 80%, operator. Afren carried Taipan through $12 million of a 1,900 km seismic program Basin is the southward extension of the hydrocarbon-proven Ogaden Basin. Karoo, Jurassic & Cretaceous plays Surrounded by oil seeps/discoveries Genale oil seep, El Kuran oil discovery (72); Tarbaj oil seep Afren has reported gross unrisked prospective resources 715 mmbbl (Net to Taipan = 143 mmbbl) Gravity and magnetic data acquired 1,900 km 2D seismic acquisition program complete Seismic interpretation on-going New Age to drill El Kuran-3 in 2013 estimated 45 days prospect P50 1.3 BBO Drilling anticipated 2014 Seismic Base-camp
Genale Oil Seep

28
Wells & Seismic Map
El Kuran Oil Discovery (1972) Well to be spudded June 2013

Ramu

Tarbaj Oil Seep

Tarbaj-2

km

100

2012 Seismic Acquisition Vintage Seismic

Mandera-Lugh Basin & Block 1 Exploration Plays

29

Simple traps imaged in Karoo Rift system

Source: 2012 Afren

New Seismic (brute stack)

Exploration Plays

Block 1 Current & Planned Activities

Acquired 1,900 km of 2D seismic and Gravity/ Magnetics in Initial Exploration Period Seismic processing and interpretation ongoing in 2013 Currently in First Additional Exploration Period. Committed to a 3000m well and 25 km2 of 3D seismic Exploration well expected in Early 2014

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Conclusions

31

Taipan Resources Inc. through its 100% subsidiary, Lion Petroleum Corp has completed the three year exploration work program on Block 2B in 8 months without incident and within budget The Sabisa well proves up that three Tertiary basins in the region can produce oil. We believe that the Anza Tertiary Basin will be the next The certified resource estimate on Block 2B is 387 million barrels unrisked prospective resources. Management estimate post new seismic and FTG is likely to be significantly higher Regarding the farm-out, although this has taken longer we are receiving significant interest in the block. Management believes that an agreement will be concluded shortly Africa Oil plans to drill 1 well on block 9 which is contiguous to block 2B in 2013. Three other commitment wells expected to be drilled in 2013/14 Company is set to enter the First Additional Exploration Period (2 years) and plans to drill an exploration well on Block 2B in mid 2014

Share Structure
As at 28th April 2013

32

Issued & Outstanding Warrants

20,000,000 exercisable at $0.12 per share until March 2015 23,833,540 exercisable at $0.60 per share until July 2017 10,418,346 exercisable at $0.50 per share until February 2018

84,699,363 53,953,886

Options Fully Diluted

6,300,000 144,953,249

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 Companys 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 forwardlooking 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) mbirley@taipanresources.com

Joel Dumaresq, CFO

+(604) 306 4000 (Canada) +(604) 336 3193 (Canada) jdumaresq@taipanresources.com

Edward Blunt
+44 (0)1491 835 550 (UK) +44 (0)772 070 7591 (UK) edward.blunt@pdf.ltd.uk

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2013-04-25_TPN_CorpPres_V13.0

Potential Oil Export Routes

Tullow needs to build a pipeline through Kenya to export their 2.5 bn bbls of oil from Uganda If the Sudanese build a southern pipeline, it would transit through Kenya The route would be similar to the Lapsset Route for rail and road links to central and west Africa Block 2B is 175 km from both of these projects

35

Uganda

Kenya: Security Incidents in 2012

36

Block 2B is located in an area with a very low population Most active areas are along roads and in areas of major population Security breaches do occur, however they are relatively low in frequency Security uncertainties are mitigated by armed Administration Police and Community relations work

Location of Block 2B

Kenyan Fiscal Regime Comparison

37

Daily Production bopd 0- 20,000 20,00130,000 30,00150,000 50,001100,000 100,001 +

Governm ent Share % 55 60 63 68 78

Contractor Share % 45 40 37 32 22

Anza Basin: Hydrocarbon Maturity Windows

38

Anza Basin: Play Concepts

39