Vanoil Energy Ltd. (“Vanoil” or the “Company”) January 29, 2013 announce it has executed a two month extension to its Technical Evaluation Agreement with the Rwandan Ministry of Natural Resources.

The agreement was between the Rwandan Minister of Natural Resources, Stanislas Kamanzi and the chief executive officer of Vanoil Energy Ltd., James Passin, provides Vanoil with the exclusive right to negotiate a Production Sharing Contract (“PSC”) covering approximately 1,631 square kilometres of the East Kivu Graben, located beneath Lake Kivu, Rwanda.

Vanoil Energy Ltd is based in Vancouver, Canada; it is an internationally diversified energy company with a portfolio of oil and gas assets in the African countries of Kenya and Rwanda.

Blocks 3A and 3B, which cover 24,912 square kilometres, potentially contain prospective resources in excess of 900 million boe, positioned between Tullow’s recent oil discovery and Apache’s offshore gas well.

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.

Vanoil’s 1,631 square kilometres of oil and gas exclusive licence in the East Kivu Graben in Rwanda is at the southern extension of the Albertine Graben where Heritage and Tullow Oil made their historic discovery in neighbouring Uganda.

This area in Rwanda may be an analogous extension of that discovery.

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