Vanoil Energy Ltd VNLEF

RE:RE:RE:RE:RE:Just about drill ready????

[Fischlaender]

So gentlemen, yes I am the one with the Kraut background and I have followed both VAN and VEL for quite a while.

With VAN I lost a substantial amount of money and also there I particularly disliked the company's totally inappropriate disclosure and information company.

VEL is in essence the same story with the same management and if the newspaper article turns out to be true they will have lost 2 key licences within a short period. Let's see whether they will be granted the L9 after this at all.

I get a gut feeling that by mid year they realized they would not be able  to sell Fluormin assets for what they had hoped for and were looking for an excuse to slow down operations to preserve cash and maybe find a farm-in partner. Seems to have failed. Also if you remember in November 2012 they were so proud of having secured the only available rig. If that is the only available rig in an area were there is drilling frenzy, how on earth can they afford to have it sitting idle on the property for months? (see further down)

If they received the letter on 27 December then hell yes, this would have not only been nice to share with shareholders but it would have been a legal obligation as far as I know. Have a look for yourself at https://www.tmx.com/en/pdf/PolicyStatementOnTimelyDisclosure.pdf and see the definition of "material event". If you have a management that deliberately casts aside its reporting obligations then I think I have a fair point in calling such management "crooks".

November 12, 2012 Vanoil Completes 100km2 3D Seismic and Gravity Survey

Vancouver, British Columbia - November 12, 2012 - Vanoil Energy Ltd. ("Vanoil") is pleased to announce that it has completed a 100km2 3D seismic and gravity survey over its western leads in block 3A in Kenya. This is the first 3D seismic survey ever completed onshore in Kenya and it complements the 845km of 2D seismic acquired by Vanoil in previous years. A suite of substantial drilling targets have been defined on block 3A within the surveyed area and Vanoil plans to select its first two well locations by the end of November. Vanoil has furthermore signed a contract with Sinopec to secure the last available onshore drilling rig in Kenya. The rig is stacked in Nairobi and ready for mobilisation. Vanoil's contract includes two firm wells and an option for two more. With its seismic surveys completed and a drilling rig in place, Vanoil is on track to spud its first well in Q1 2013. Aaron D'Este commented, "Vanoil has completed a comprehensive exploration program in Kenya, using 3D seismic and the latest interpretation techniques to produce robust drilling targets. Securing the last available onshore rig in Kenya allowed Vanoil to avoid substantial mobilisation fees and to be ready for its first well in Q1 2013."