News Column

Vanoil TEA Expires With Rwandan MNR

Jun 17 2013 12:00AM

Marketwire

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VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/17/13 -- Vanoil Energy Ltd. (TSX VENTURE: VEL), reports that the current Technical Evaluation Agreement ("TEA") with the Rwandan Ministry of Natural Resources has expired effective June 13, 2013. The Company has referred this matter to the Conciliation Committee pursuant to Article 10 of the TEA agreement "settlement of disputes".

About Vanoil Energy Ltd.

Vanoil is an oil and gas company with a portfolio of assets in East Africa and the African state of the Seychelles Islands in the Indian Ocean.

In Kenya, Vanoil holds a 100% interest in onshore Blocks 3A and 3B, acquired in October 2007 through the signing of a Production Sharing Contract (PSC) with the Government of the Republic of Kenya. These blocks cover 24,912 km2 between Tullow Oil's recent oil discoveries and Apache Corp.'s offshore gas well.

In the Seychelles, Vanoil has a 25% participating interest alongside partner Afren plc in offshore Exploration Areas A and B, covering some 14,319 km2.

On behalf of the Board ofVANOIL ENERGY LTD.James PassinChairman



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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 that cannot 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.



Contacts:
Vanoil Energy Ltd.
Don Padgett
+1 604 689-1515 x104

Vanoil Energy Ltd.
Malcolm Burke
+1 604 689-1515 x108

Vanoil Energy Ltd.
Scott Rose
+1 604 684-1974 x 227
www.vanoil.ca

Media and investor enquiries:
FTI Consulting
Natalia Erikssen or Sara Powell
+44 20 7269 9348





Source: Marketwire


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