VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2012) - 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.
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