Vanoil Energy
Vanoil Energy is a Canadian energy company founded in 2009 and headquartered in Vancouver,British Columbia. It is listed on the TSX Venture Exchange under symbol VEL. Its focus is exploration for oil and gas in East African both both offshore and onshore.
On 15 March 2013, Vanoil purchased Avana Petroleum, a company founded by Sam Malin in 2007 with assets and activities in Kenya, the Seychelles and wider East Africa/Western Indian Ocean region.
Assets
Vanoil's primary assets are interests in Kenya, both offshore and onshore, the Seychelles and Rwanda.
In Kenya, the onshore interests are in blocks 3A and 3B in Eastern Kenya with a total area of 24,912 km2 (6.2 million acres) and covering significant sedimentary basins. Through its subsidiary Avana Petroleum, Vanoil has a 10% participating interest in a 5,110 km2 (1.3 million acre) exploration area awarded to Avana and its partners Dominion Petroleum (now Ophir) and Flow Energy (now FAR - ASX:FAR) in 2011.
In the Seychelles, through its subsidiary Avana Petroleum, holds a 25% participating interest in a 14,000 km2 (3.5 million acre) exploration area granted to Avana and its partner East Africa Exploration (now a subsidiary of Afren - which operates the blocks) in 2008.
Ownership and management
Vanoil is a public company listed on the London AIM exchange. Its largest shareholder is Firebird Global Fund [1], a hedge fund managed by James Passin[2]. The Chairman is James Passin and the Chief Executive Officer is Aaron D'Este[3].
In addition to its office in Vancouver, Vanoil has representation through its subsidiaries in Nairobi, Kenya, Antananarivo, Madagascar and Douglas, Isle of Man.
References
- ^ http://investors.morningstar.com/ownership/shareholders-overview.html?t=VEL®ion=CAN&culture=en-US Vanoil Shareholder Overview
- ^ http://investing.businessweek.com/research/stocks/people/person.asp?personId=59599075&ticker=VEL:CN&previousCapId=3175090&previousTitle=VANGOLD%20RESOURCES%20LTD Profile - James Passin
- ^ http://investing.businessweek.com/research/stocks/people/person.asp?personId=145256636&ticker=VEL:CN Profile - Aaron d'Este