""What do you think a fair $/b is for reserves in the event of a discovery by a company like Taipan or Tower?""
Good question... as Kenya has not done any PSC's yet (I am assuming PSC's are the way they will go). There will have to be a pipeline from Uganda down to the coast, which will cost a pretty penny. TPN and partners will have to go down to connect to it. Given that they're in Somali country, they might even choose to use convoys of trucks, rather than a vulnerable pipeline?
Anyway, I'd put an undeveloped find at $4/bbl. I think that's conservative enough. I can't see how it would be less...