VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/14/12 -- Vanoil Energy Ltd. (TSX VENTURE: VEL) ("Vanoil") is pleased to announce that it has embarked on the phase I, 400 line-kilometers, 2D marine high resolution low penetration seismic survey in East Kivu Graben in Rwanda. The survey forms part of Vanoil's 2012 work program which will be included in the upcoming Production Sharing Contract negotiations with the Ministry of Natural Resources of Rwanda. The seismic data after processing and interpretation will enhance the data on revealing the hydrocarbon prospectivity of the Vanoil's East Kivu Graben Block.
The survey is being undertaken by the Syracuse University, as part of their long-running scientific investigations of Africa's Great Rift Valley. The Syracuse University technical team is headed by Dr. Christopher Scholz, SU faculty member and research geoscientist. The team has conducted marine seismic surveys elsewhere in East African rift system basins including rift basins of lakes Turkana, Malawi, Albert, Edward and Tanganyika. The current survey extends across 1,631 square kilometer's area of Vanoil's exclusive license in the East Kivu Graben Block.
The northern most part of the Western Branch of East Africa Rift System (CARS) is the Albertine Graben in Uganda in the Lake Albert area which has an estimated oil reserve in place of approximately 2 billion barrels. This major oil discovery was found by Heritage and Tullow oil companies. The similar origin (tectonic and stratigraphy) of Kivu Graben with Albertine Graben presupposes a similar sedimentary basin in-fill and therefore makes East Kivu Graben Block an interesting area to explore for hydrocarbons. Its prospectivity is further enhanced by presence of Long chain hydrocarbons in the lake bottom sediments, indicative of possible existence of an active petroleum system.
About Vanoil Energy Ltd.
Based in Vancouver, Canada, Vanoil is an internationally diversified oil and gas exploration company with a portfolio of oil and gas assets in the African countries of Kenya and Rwanda. In Kenya, Blocks 3A and 3B 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 square kilometres, are part of the under-explored Cretaceous Central African Rift Basin System. In Rwanda, Vanoil has a 1,631 square kilometre oil and gas exclusive licence in the East Kivu Graben.
To find out more about Vanoil, please visit our website at www.vanoil.ca.
On Behalf of the Board of
VANOIL ENERGY LTD.
James Passin, President and CEO
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