|golfram, you seem to be abit behind the times :+} see the new Vanoil thread,
this sus is just a formality, your shares are currently being changed into vanoil for monday morning..........|
|Vanoil Energy Ltd. (TSX VENTURE:VEL), an oil and gas company with a portfolio of
assets in East Africa ("Vanoil" or the "Company") is pleased to announce that
all motions put forward for approval at its Annual and General Special Meeting
held on May 10, 2013, passed with significant shareholder support.
James Passin, Aaron D'Este, Don Padgett, Larry Van Hatten, Samuel Malin and
Francis Karanja were elected to the Company's board of directors. The Company's
shareholders also reappointed Ernst & Young LLP as auditors for the coming year
and approved the re-adoption and amendment of the Company's stock option plan.
By way of an ordinary resolution by the minority shareholders of the Company,
the acquisition of Fluormin Plc by Vanoil, as announced on March 26, 2013, was
approved, with 99.83% of the votes cast in favour of the acquisition.
Mr. Aaron D'Este stated, "We are extremely pleased with the overwhelmingly
positive response we received from shareholders approving the acquisition of
Flourmin PLC. We are currently marching towards our two-well drilling program in
Kenya, and we remain on track to commence our first well in July."
Full details on the acquisition of Fluormin Plc can be found in Vanoil's
management information circular dated April 8, 2013, which is available on the
Company's website at www.vanoil.ca or on SEDAR at www.sedar.com.
About Vanoil Energy Ltd.
Based in Vancouver, Canada, Vanoil is an oil and gas company with a portfolio of
assets in East Africa and listed on the TSXV.
The Company holds Blocks 3A and 3B, onshore Kenya, which were acquired in
October 2007 through the signing of a Production Sharing Contract with the
Government of the Republic of Kenya. These blocks, which cover 24,912 km2
between Tullow's recent oil discoveries and Apache's offshore gas well have been
assigned prospective resources in excess of 3 billion barrels. Offshore Kenya,
the anticipated perfection of a 10% participating interest in offshore Block L9
alongside partner Ophir Energy plc ("Ophir"), is estimated by Ophir to represent
270 million barrels or 1.18 Tcf of prospective resources net to Vanoil.
In the Seychelles, Vanoil's 25% participating interest alongside partner Afren
plc ("Afren") in oil and gas exploration Areas A and B, which cover some 14,319
km2, entitles the Company to mean net unrisked prospective resources of 700
million barrels of oil-equivalent as estimated by Afren.
Vanoil also has the exclusive right to negotiate a production sharing contract
with the Republic of Rwanda covering 1,631 km2 of oil and gas concessions in the
northwestern part of the country, incorporating the eastern waters of Lake Kivu
and the surrounding shoreline.
Media and investor enquiries:
Natalia Erikssen, Sara Powell
+44 20 7269 9348|
|Sure the announcement will relate to the Vanoil transaction...................
The following dates are subject to change; please see note (5) below
Last day of dealings in, and for registration 16 May
of transfers of, Fluormin Shares
Scheme Record Time 6.00 p.m. on 16 May
Suspension of Fluormin Shares from trading 7.30 a.m. on 17 May
Court Hearing to sanction the Scheme 17 May
Effective Date of the Scheme 17 May
New Vanoil Shares and New Vanoil Warrants 20 May
Cancellation of Fluormin Shares from trading 7.30 a.m. on 20 May
New Vanoil Shares listed on the TSX-V by 8.00 a.m. (EST)
on 20 May
Commencement of dealings in New Vanoil by 8.00 (EST) a.m.
Shares on the TSX-V on 20 May
Vanoil DCIs credited to CREST accounts By 8.00 (EST) a.m.
(in respect of Scheme Shares held in uncertificated on 21 May
Latest date for despatch of statements 31 May
of entitlement in respect of the New Vanoil
Shares and warrant certificates in respect
of the New Vanoil Warrants by|
|would be happy with an unconditional cash offer, but just strange that the shares are suspended on the last trading day...Hopefully, there will be a new announcement on corporate action|
|Farewell fair Fluormin thread you have served us well..(wipes tear)|
|Also consider this thread closed, please move (to the future) to the Vanoil thread;
|The mm's have too many shares on their hands, they are now far cheaper than Vanoils then you get the warrants! You would think the Canadians would buy them as they will automatically get exchanged come the 16th of May.... think it is that day.....|
|wow that's one hell of a steep drop at the end of the day,news leaked that we all don't know about as usual,would not surprise me in the slightest.|
|Cheers Vauch, lets hope that it works out for us all.|
|It will all be sorted for us.|
Haven't been watching this for sometime, but have a daft question ref the transfer of shares to vanoil. Is this process automatic or do we have to do anything?
|I have set up a rough vanoil thread, but can not put a daily chart on it at the moment, not sure how you could do it, but you can put vanoil on your monitor, VEL and choose the canadian stock, or you will get a uk based software company.......
|Yes dropside - very hot hot hot area!!
so why the hell did someone dump 400k vanoil last thing last night, offer now 28 cents..... mad...|
|What the neighbours are up to.
Some very positive seismic next door to us:
Block 2B is just north of Vanoil's 3A as you can see from this map
|would be very much appreciated :)
and no rush whatsoever!|
|I will do it in the next few days if noone has any objections ....... too busy at the moment..........|
|anyone fancy setting up a vanoil thread????|
|April 19, 2013
Fluormin Transaction Update and Entry into Transfer Agreement in Respect of Block L9 Kenya
April 19, 2013 - Vanoil Energy Ltd., a TSX-V-listed oil and gas company with a portfolio of assets in East Africa ("Vanoil"), is pleased to announce that, following the announcement on 26 March 2013, confirming its intention to acquire the entire issued and to be issued share capital of AIM-listed Fluormin PLC (AIM: FLOR) ("Fluormin"), it has received confirmation of Fluormin's shareholders having passed by the necessary majorities, the resolutions proposed at the Court Meeting (convened by order of the High Court of Justice in connection with the scheme of arrangement) and at the general meeting held yesterday.
The approval by Fluormin's shareholders of the scheme of arrangement is a significant step towards the implementation of the scheme, which is expected to become effective on 17 May 2013, subject to the satisfaction of further conditions.
Vanoil is also pleased to announce that its newly acquired subsidiary, Avana Petroleum Kenya Limited ("Avana"), has entered into a transfer agreement with Dominion Petroleum Kenya Limited ("Dominion") (a wholly owned subsidiary of Ophir Energy plc), to perfect Avana's title to a 10% participating interest in Kenya offshore Block L9. Dominion holds the balance of the participating interest.
Aaron D'Este, President and CEO, commented:
"It was excellent to see such strong support from Fluormin's shareholders at the meetings held yesterday. The affirmative results are a significant and positive step in the implementation of the scheme of arrangement. The acquisition of Fluormin, once completed, will provide an invaluable source of capital for Vanoil. Execution of the L9 transfer agreement is also a welcome step in the diversification of our East African asset portfolio. The encouraging results in neighbouring blocks, and the density of seismic already acquired, give us cause for optimism in L9."
Vanoil also announces that it has filed a 51-101 report on the prospective resources of Avana Petroleum Ltd., which is available under the Company's profile at www.sedar.com.
To find out more about Vanoil, please visit our website at www.vanoil.ca or contact:|
|Yes, bring on that spud!
Just back from a very hot and sunny Rome. If that spud hits oil then I might be living there!|
|otttrader, I was there yesterday, there was only 1500 share votes against the takeover! So it was approved......
Also there are only 49 yes 49 shareholders in Fluormin,that includes the board, Firebird etc,,,,,, me and the mrs are 2 of those....... quite amazeing .......
Looking forward to the first spud........|
|From rns above......
the resolution was passed on a poll by a majority in number of the Scheme Shareholders (as defined in the Scheme) present in person or by proxy and who represented more than 75% in value of all the Scheme Shares (as defined in the Scheme) voted by such Scheme Shareholders.
It's a Yes!|