Velocity Composites Share Discussion Threads

[dreggspicker] 04/7/2013 08:50

Lets get a hot link for that drops;



all looks good...............



" VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 3, 2013) - Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to announce excellent results from its recent drilling operations in Kenya and Ethiopia.

The testing program at the Ngamia-1 oil discovery on Block 10BB in Kenya has now been successfully completed. The cumulative flow rate from six Drill Stem Tests ("DST's") was over 3200 barrels of oil per day ("BOPD") constrained by completion techniques and surface equipment. With optimized completion techniques and surface equipment it is estimated that these combined flow rates would increase to a rate of 5400 BOPD. Five of the DSTs were completed over the Auwerwer sandstones to verify reservoir quality and fluid content which appear to be of similar quality to those tested at the Twiga South-1 well in the same basin. High quality waxy sweet crude (25-35 degrees API) was flowed from all five zones in the Auwerwer formation with good quality reservoir sands encountered. All zones produced dry oil with no water produced and no pressure depletion. One DST was completed on the Lower Lokhone with successful results as previously announced on April 15, 2013.

In addition to proving the good quality reservoir, as a result of testing several previously indeterminate zones in the well, the joint venture has been able to double the firm net oil pay estimate in the Ngamia well to over 200 meters over a gross oil column of over 1,100 meters and has increased the net pay at Twiga to over 75 meters. The Operator, Tullow Oil, has reported that they believe the Ngamia and Twiga fields contain over 250 million barrels of recoverable oil. Appraisal work, including the acquisition of 3D seismic and the drilling of appraisal wells on both discoveries, will be undertaken over the next year to confirm these estimates. A mid-year revision to the Company's third party resource report is ongoing and is expected to be issued in the third quarter and will take into account these improved reservoir thickness and quality parameters.

The Weatherford 804 rig used to test this well is currently being mobilized 13 kilometers north to the Ekales location, a prospect similar to and located between the Twiga and Ngamia discoveries, which is expected to spud in late July.

The Company is also pleased to announce that oil has been discovered in the Etuko prospect in the Lokichar Basin in Block 10BB in Kenya. This well was located on a tilted fault block target on the Basin Flank Play on eastern side of the basin. Based on logs and oil recovered by MDT sampling, net pay of 40 meters has been confirmed in the Auwerwer and Upper Lokhone targets which demonstrate good reservoir properties and oil quality. Within the Upper Lokhone sequence the well encountered a thick section of lacustrine source rocks with interbedded oil-bearing sandstones. The well is currently drilling in the Lower Lokhone sands and results from this lower section are expected by the end of July."

[dropside] 03/7/2013 22:48

More good news coming out of Kenya today..

hxxp://africaoilcorp.mwnewsroom.com/press-releases/ngamia-well-flows-at-over-3200-bopd-and-doubles-ne-tsx-venture-aoi-201307030884449001

Agree dreggs, Vanoil are not as PI friendly as Fluormin unfortunately.

[dreggspicker] 01/7/2013 16:11

I have asked when will we spud proper, but I am afraid I have not had a reply, shame, they do not seem to be pi friendly as Fluormin.......

[dropside] 01/7/2013 12:27

Hi N111, Would they oblige? Yes. Would they think you were mad? Yes!
They would also have to issue an RNS as more shares would be issued.

Well its now July so drilling this month :-)

Won't get an RNS today though as it is Canada Day and markets are closed.

[napoleon111] 01/7/2013 12:09

I was reading the warrants certificate last night out of curiosity, never really bothered reading them before (as never got a chance to exercise in the money!). A thought though, and its only a small amount so not an issue. But the warrants given to Avana shareholders were exercisable at 1 dollar per share, close on 300% from now. But if i was to write to the company and ask them to exercise them, and send them the funds for this, I wonder would they think I am mad exercisnig them so far out of the money, or would they oblige? and would this as a transaction show on the market? or would it remain unbeknownst that someone paid a dollar a share for vel??

[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