Velocity Composites Share Discussion Threads

[dreggspicker] 27/6/2013 20:53

Been out there a while N111, I don't read too much into it, not really counted Rwanda as a big asset, but like you I presume it is unfortunate news but not too big; I also think there is a good chance we will get the licence back in our hands, if that is what is meant............ share price is now 30 - 31 ....... the prices go up and down like a blinking yo-yo :+}
dreggs

[napoleon111] 27/6/2013 16:57

coudlnt remember if i had seen this before

[napoleon111] 27/6/2013 16:56

une 17, 2013
Vanoil TEA Expires With Rwandan MNR
June 17, 2013 - Vanoil Energy Ltd. (TSX-V: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 of

VANOIL ENERGY LTD.

James Passin
Chairman

[napoleon111] 27/6/2013 16:31

30k dump and down to .26 :(

[napoleon111] 18/6/2013 13:23

hi dreggs sorry, yes i got my warrants aswell in the post, but also got the share certificates from holding avana, dont forget avana has never previously been listed, it was a private company, so had to fire in the old original avana certs along with the vote to proceed etc, and then they send out vanoil certs, which i have to now send to my broker to get dematerialised, its a bit of a pain to be honest! havnt got a chance to read the warrants doc yet, but im sure its standard enough!

[dreggspicker] 18/6/2013 08:27

There has been news but it does not want to be in the header for some reason I do not know why;

"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".

Not sure what this is about, but obviously there is a differing of minds......

[dreggspicker] 18/6/2013 08:15

N111, don't you mean your warrents came last week, like mine?

[napoleon111] 18/6/2013 08:09

got my vanoil certificates in the post last week :)

[dropside] 09/6/2013 21:00

Hi dreggs, Yes it seems what was found at Pai Pai is seen as the game-changer for the similar targets Vanoil have in 3A and 3B, and Pai Pai is a recent development.

And there are the other results from drilling in the region..

hxxp://www.africaoilcorp.com/s/CurrentActivities.asp

I really does not feel like a frontier region from the Africa Oil hit rate..

[dreggspicker] 08/6/2013 19:30

I was told that the pai-pai oil shows/ discovery vastly improves the odds, I did say perhaps it could be water instead of oil? and was told that would be very unlikely, on a par with hitting gas........

[dropside] 08/6/2013 17:28

Dreggs, I agree the west focus area shows a flower structure on the technical presentation so that is a good fit for Madogashe 1 . They also show Lead 17 as the most promising prospect, which is between the western and eastern focus areas. If this is the same lead 17 as on the resource statement then the geological CoS is not great- but then they have done 3D seismic since then (and the leads may have been re-numbered). I think the problem with putting these presentations together is they have different dates and levels of development.

I'd say Madogashe 1 is in the western focus area and Lead 17 will turn out to be Shanta Abaq in 3B.

[dreggspicker] 08/6/2013 08:50

N111, just doing the waiting game ---------- shud have news of the first spud ---- in a few weeks ........

[napoleon111] 07/6/2013 16:46

all quiet here recently

[dropside] 27/5/2013 18:15

Interesting large trade of 35,000 (over £7300), stock taken by RBC Capital Markets.

[dropside] 25/5/2013 10:02

Good spot.

The southern extent of the Anza Graben does go down into the north west corner of 3B, looks like this is where they are drilling.

Also what are the little circles on the licence areas on p9, planned and past wells?

Edit....No I think they are just past wells as identified on the Technical Presentation.

[dreggspicker] 24/5/2013 22:52

on page 9 it does also show 2 arrows one pointing to 3a and the other 3b, with the words 'vanoils planned drilling' so looks like number two is inside 3b......
'shanta abaq'

[dreggspicker] 24/5/2013 22:20

you are right,(see page 12) the one on the bot right has a tiny green star on it, the same as Madogashe has, and it does say at the top "across both blocks" but I was led to believe 3b is a much less of a prospect but it would not need much just a small corner of it and the rest to be barren .......

[dropside] 24/5/2013 22:09

Are both the wells this year on 3A then? The chart looks like there is one on 3A and one on 3B but I could be reading too much into it.

[dreggspicker] 24/5/2013 21:50

Well spotted, I think we will find it will be mainly 3b,I got the feeling it was nearly all about 3a; 3b is a much poorer prospect........
With the flower structure, I think you are quite right about the multiple chances of catching and concentrating the oil..... with luck....

dreggs

[dropside] 24/5/2013 21:09

There has been no detail on the reason to relinquish the 35% of 3A/B has there? I guess it cuts the licence maintenance costs by getting rid of the unpromising sections.

I suppose the point about the trap flower structure of Madogashe 1 is that if one trap has leaked there are 'multiple' opportunities to find charged traps that are intact in the structure. Together with Pai Pai, not so far away, showing hydrocarbons in the same target zone, that must be why the vibes from Vanoil are strong that they believe there is a good chance of finding oil on this one. I'm all for that :-)

[dreggspicker] 24/5/2013 19:17

Aaaahhhh, so the first well is called Madogashe-1 , just seen it in the presentation..........

[napoleon111] 24/5/2013 14:52

very interesting presentation

[dreggspicker] 24/5/2013 14:30

Thanks drops, I think I looked last nite, it was not there then; I also think this is the document I saw Aaron with at Fluormins meeting, it said draft on it and he would not let me have it!
But we have it now........... all looks good, but it will not let me post pics from it...... so I will put the link in the header.....

Busy Programme with a Range of Catalysts
Licence 2013 1H 2013 2H 2014 1H 2014 2H
Kenya
Block 3A and 3B First spud July 2013: onshore drill two wells in
succession
Block L9 offshore
Farm-out process initiated by Potential drilling in Ophir 2014
Rwanda
East Kivu Graben Potentially sign Acquire gravity & onshore Rwanda PSC seismic data
Seychelles
3D seismic
acquisition ~3,000 km2 of 3D
Potential drilling in 2014
Areas A and B offshore
Corporate Activity
Farm-out of 3A/3B
Farm-out of Seychelles and Rwanda
Potential Third- party Drilling in Kenya
A532;Block L11B Anadarko/Total
Ekales-S, Ekales-D, Block 13T Africa Oil/Tullow
Block L17/L18 Afren
Block L8 Apache/Tullow
Bahasi-1, Block 9 Africa Oil/Marathon
Block L6 Block 2A FAR/Pancon Simba Energy
Block 1 Afren/Taipan
A532;Etuko, Ngamia, Amosing, Block 10BB Africa Oil/Tullow
Twiga (appraisal), Block 13T Block L10A or L10B Africa Oil/Tullow Premier/BG
19
Experienced Team with Solid Track Record
A532;James Passin
Chairman
• Managing partner and co- • founder of Firebird Global Fund
• Director of National Bank of • Mongolia
• Serves on the Board of Directors of several natural resources companies
President & CEO
Extensive experience in E&P, • oilfield services and strategy
Founded, managed and funded multiple oil companies and oil • investment businesses, including PGS Ventures, Azimuth Ltd and • Cove Energy, among others
Director
Extensive experience in public • company finance and
governance
Director of multiple international • public and private companies
Previously held senior executive positions at Canaccord Capital
and Burns Fry •
Director
Geophysicist with 20+ years' experience in exploration and operations
Former CEO of Avana Petroleum and founder of Madagascar Oil and Red Island Minerals

[dropside] 23/5/2013 22:47

Presentation now on the Vanoil website. One of the best I have seen from any company, very detailed and clear. There is a lot to look forward to folks..