The Rwandan Ministry of Natural Resources extended Vanoil Energy Ltd.’s technical evaluation agreement on the 1,631 sq km oil and gas license in the Kivu graben in Rwanda.
It is the intention of the company and the minister to conclude a production sharing agreement before the end of 2011, Vanoil said.
Vanoil also said that Syracuse University has received permission from the ministry to commence a 2D seismic study of Lake Kivu on behalf of Vanoil. This program will assist in identifying the areas of greatest hydrocarbon prospectivity in the Lake Kivu graben. The seismic study is to demonstrate the similarities between Lake Albert and Lake Kivu and to establish drill targets in and around Lake Kivu on Vanoil’s concession.