Velocity Composites Share Discussion Threads

[napoleon111] 14/5/2013 17:02

just seen the news on their website, good stuff, now we can pillage your cash piles for our drililng campaign :P

[dreggspicker] 14/5/2013 16:58

Anyway, the Fluormin transaction has formaly gone through,so no going back now;.....


"Vanoil Announces Results of AGSM and Approval of Fluormin Acquisition
Print
Alert
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."

Dreggs

[dreggspicker] 14/5/2013 16:43

After spending a good 10 mins on the phone to advfn, we have charts!
But only after changing the http code, not like they told me!! Would not work ....

[dropside] 12/5/2013 10:21

Yes a dual listing on AIM please, the sooner the better.

[dreggspicker] 11/5/2013 22:00

"They are myopic, in fact"

I would presume the Canadians are pretty much the same, thats why I would like to see a dual listing in London.....

dreggs

[dropside] 11/5/2013 15:41

Thanks Steve, have a good weekend yourself.


Interesting article about oil and gas investing generally, mixed prospects for juniors but Vanoil are an exception with a favourable mention about halfway down.




KS: .........However, in Africa for example, a lot of juniors are having fantastic success, such as Africa Oil Corp. (AOI:TSX.V). There are a lot of ongoing junior African plays that are very high-risk, high-reward plays that can see big lifts with a discovery.

TER: Is North Africa a safe place to do business?

KS: It depends where you are in North Africa. The Street tends to wipe an entire area with one brush, and sometimes that's justified. There are pockets in North Africa that one can operate in, though. Tunisia seems to be fairly safe for business. Obviously, Libya and Algeria are currently fraught with danger, and the Street does not want to go there. Morocco looks relatively safe. Despite the political disruptions, however, some business is done.

TER: Are there juniors in North Africa that investors should look at?

KS: The satellite juniors in the African risk play - Taipan Resources Inc. (TPN:TSX.V) and Vanoil Energy Ltd. (VEL:TSX.V) -are both funded and set to start drilling in the next six months. In Tunisia, there is Africa Hydrocarbons Inc. (NFK:TSX.V) as well as DualEx Energy International Inc. (DXE:TSX.V), which is going to be drilling its big well within 30–60 days. In Angola, there are a couple of drill plays getting funded.

TER: Are North American investors funding African plays?

KS: Most of the money comes from London. The Europeans are much more comfortable drilling in Africa than North Americans are. North Americans are very risk averse on the international scene. They are myopic, in fact.

[cyprussteve] 11/5/2013 09:24

Hi dropside,
Hmmm - maybe I will, but, I have always had a bit of a blind spot about oil Companies, probably because I don't really understand them to be honest.
To answer your question, I still very much like Ferrex - greatly oversold in my view but with excellent management and projects - and also Strategic Minerals who have results due.
Just my view of course - and as always both have their risk / reward ratio.
Have a good weekend all.
Steve from sunny Cyprus :):)

[dropside] 11/5/2013 08:07

Welcome to the board Steve, please keep visiting and maybe we will convince you to bag a few, East Africa is the hottest play around!

Is Ferrex still your favourite at the moment?

[cyprussteve] 10/5/2013 21:17

Hi dreggs,
Guilty as charged :)
I am not a holder here, but, I have a good friend who is, so I sometimes have a little look at what is going on .
Ciao
Steve

[napoleon111] 10/5/2013 13:38

who is our belgian friend?

[dreggspicker] 10/5/2013 11:24

Hi-ya Cyprusteve, hope you are fit and well :+} you must be the one on the flag counter......

[dropside] 09/5/2013 07:36

I read that on a Canadian BB. Apparently there was a new presentation on the Vanoil website but it is no longer there.

[dreggspicker] 08/5/2013 21:56

Never heard the name before, could be.......

[dropside] 08/5/2013 20:35

So our first well is to be called "Madogashe 1"?

[dreggspicker] 08/5/2013 16:42

and I thought Napoleon ended up on the Isle of Elba :+} ..... glad you are staying around; Post any thoughts on here, can't have just me and dropie nattering......

[dropside] 08/5/2013 16:25

You are in Monaco, Napoleon? Nice place.

Two thoughts from this VEL announcement - may be worth trying to buy a few depending on the price, and what do they mean start drilling in July? I'm sure they meant to say June :-)

[napoleon111] 08/5/2013 16:06

thought i would add a new flag to the thread :D

[dreggspicker] 08/5/2013 08:30

News out on VEL;

clink on the top link for news and charts, for the full one, I recon we are going to drill these 2 wells on our own first before farming, lets just hope we don't get too diluted at this early stage...........

dreggs


"Vanoil Announces Offering of Common Shares
Print
Alert
NOT FOR RELEASE, PUBLICATION OR DISSEMINATION IN THE UNITED STATES. ANY FAILURE
TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES
LAWS


Vanoil Energy Ltd. (TSX VENTURE:VEL), an oil and gas company with a portfolio of
assets in East Africa ("Vanoil" or the "Company") has filed with, and obtained
receipt for, a preliminary short form prospectus from the securities regulatory
authorities in British Columbia, Alberta and Ontario (the "Qualifying
Provinces") in connection with a marketed offering (the "Offering") of common
shares. The Offering will also be made in such other jurisdictions outside of
Canada where the Offering can be completed on a private-placement basis, exempt
from any prospectus, registration or other similar requirements.


The Offering will be led by GMP Securities L.P. ("GMP") and will be conducted on
a best efforts agency basis. The final terms of the Offering, including size and
price, will be determined in the context of the market, and the net proceeds
will be primarily used to fund Vanoil's previously announced 2013 two-well drill
program in Kenya commencing in July of this year. Vanoil has concurrently
launched a farm-out process to find a suitable partner for its 100%-owned blocks
3A and 3B in the South Anza Basin, onshore Kenya, where the wells are being
drilled, and the Company has an active work programme in place on its other East
African licences, with two seismic surveys completed recently and two further
wells to be drilled in 2014.


The Offering is subject to customary conditions and the receipt of required
regulatory approvals, including the approval of the TSX Venture Exchange. The
Offering is scheduled to close on or about June 3rd, 2013, or such other date as
the Company and GMP may agree."

[dropside] 04/5/2013 22:22

A clip from the link:

.....Heading north to south down the east coast of Kenya, Africa Oil is active in Block 9, then Taipan in the middle in Block 2B and junior Vanoil [VEL:CA] is also set to spud its first well on Block 3A to the immediate south of Block 2B.

Much like Africa Oil's Paipai-1 well located on Block 10A, Vanoil's well will be specifically targeting cretaceous rock. Located at a deeper depth, the cretaceous presents a higher-pressure zone that Vanoil says is in the oil window. These predictions come from the positive results that Paipai delivered, which encountered 55m thick hydrocarbon shows.

Both Taipan and Vanoil are set to benefit from planned infrastructure in the play. Vanoil already has plenty of roads crisscrossing its block, but for both companies the biggest benefit is that of proposed pipelines that come through their vicinity.

"There are a number of pipeline routes that are under discussion right now, but the ones that are the most likely are about 175 kilometers to the south of our block," says Zive, as the Taipan team postures itself for future production. "But either way, even without a pipeline being built, we can truck oil out when the time comes after a potential discovery."

Before either junior realizes its commercial potential, many eyes will be on the neighboring projects of Africa Oil and its partners. Investors from the United States will especially be intrigued by the projects involving Marathon, as it would be the first US-based Kenyan oil success story.

The landscape of Kenya's oil story is set to make a big change, with several near term catalysts. The opportunity window for juniors in the region is closing fast, and the potential is about to be realized. It's going to be an exciting six months.

[dreggspicker] 04/5/2013 20:57

I notice there has been quite a few visitors according to the flag counter, please feel free to add to the debate/salivation, even if it is just to say hi!

[dreggspicker] 04/5/2013 20:38

Thanks dropside,Sounds good,looks good,

Here is the map of the area from the link;
We are of course 3a3b, but really it is all about 3a;

Should be 2 spuds this year; Question is are we going to farm out before or after the first well ???

Do we feel lucky enough to do it after the first?

[dropside] 04/5/2013 19:47

Several mentions of Vanoil in this piece. Exciting stuff.

[dreggspicker] 04/5/2013 08:48

vel ended the doy at 29-30 down 10%, which is all meaningless when then spread changes like the tide.........