Vanoil Completes 100km2 3D Seismic and Gravity Survey

Vanoil Energy Ltd. (TSX VENTURE:VEL) ("Vanoil") is pleased to announce that it
has completed a 100km2 3D seismic and gravity survey over its western leads in
block 3A in Kenya. This is the first 3D seismic survey ever completed onshore in
Kenya and it complements the 845km of 2D seismic acquired by Vanoil in previous
years. A suite of substantial drilling targets have been defined on block 3A
within the surveyed area and Vanoil plans to select its first two well locations
by the end of November.


Vanoil has furthermore signed a contract with Sinopec to secure the last
available onshore drilling rig in Kenya. The rig is stacked in Nairobi and ready
for mobilisation. Vanoil's contract includes two firm wells and an option for
two more.


With its seismic surveys completed and a drilling rig in place, Vanoil is on
track to spud its first well in Q1 2013.


Aaron D'Este commented, "Vanoil has completed a comprehensive exploration
program in Kenya, using 3D seismic and the latest interpretation techniques to
produce robust drilling targets. Securing the last available onshore rig in
Kenya allowed Vanoil to avoid substantial mobilisation fees and to be ready for
its first well in Q1 2013."


About Vanoil Energy Ltd.

Based in Vancouver, Canada, Vanoil is an internationally diversified resource
company that has a comprehensive portfolio of oil and gas assets in the African
countries of Kenya and Rwanda. In Kenya, Blocks 3A and 3B were acquired in
October 2007 through the signing of a Production Sharing Contract with the
Government of the Republic of Kenya. Blocks 3A and 3B, which cover 24,912 square
kilometers, are part of the vastly under-explored Cretaceous Central African
Rift Basin System. The Company is preparing to drill in Q1 2013 its first
exploration well on its Kenyan concession. Vanoil's is also the holder of 1,631
square kilometers of an oil and gas exclusive licence in the East Kivu Graben in
Rwanda at the southern extension of the Albertine Graben where Heritage and
Tullow Oil made their historic discovery in neighbouring Uganda.


On behalf of the Board of VANOIL ENERGY LTD.

Aaron D'Este, Chief Executive Officer

To find out more about Vanoil please visit our website at www.vanoil.ca.

Disclaimer for Forward-Looking Information

This news release includes forward-looking statements that are subject to
assumptions, risks and uncertainties. Statements in this news release which are
not purely historical are forward-looking statements, including without
limitation any statements concerning the Company's intentions, plans, estimates,
beliefs or expectations regarding the future. Although the Company believes that
any such intentions, plans, estimates, beliefs and expectations in this news
release are reasonable, there can be no assurance that any such intentions,
plans, beliefs and expectations will prove to be accurate.


The Company cautions readers that all forward-looking statements, including
without limitation those relating to the Company's future operations and
business prospects, are based on assumptions none of which can be assured, and
are subject to certain risks and uncertainties that could cause actual events or
results to differ materially from those indicated in the forward-looking
statements. Readers are advised to rely on their own evaluation of such risks
and uncertainties and should not place undue reliance on forward-looking
statements.


Any forward-looking statements are made as of the date of this news release, and
the Company assumes no obligation to update the forward-looking statements, or
to update the reasons why actual events or results could or do differ from those
projected in the forward-looking statements. The Company assumes no obligations
to update any forward-looking statements, whether as a result of new
information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Vanoil Energy Ltd.
Don Padgett
604-689-1515 x104
dp@primarycapital.net
www.vanoil.ca

Vanoil Energy Ltd. (TSXV:VEL)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024