The TSX Venture Exchange has consented to the extension in the expiry date of the following warrants of Vanoil Energy Ltd.:

Private placement:

Number of warrants:  8,373,937

Original expiry date of warrants:  Aug. 2, 2014 (4,025,818 warrants); Aug. 10, 2014 (4,291,666 warrants); Aug. 21, 2014 (56,423 warrants)

New expiry date of warrants:  Aug. 2, 2017

Exercise price of warrants:  $1

These warrants were issued pursuant to a private placement of 8,373,937 shares with 8,373,937 share purchase warrants attached, which was accepted for filing by the exchange effective Aug. 9, 2012, and Aug. 24, 2012.