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File: NR 2014-10-31 VEL Corporate Restructuring FINAL.docx


VANOIL ENERGY LTD.  TSXV:VEL
FOR IMMEDIATE RELEASE  

VANOIL ANNOUNCES CORPORATE RESTRUCTURING

October 31, 2014 - Vanoil Energy Ltd. (TSXV: VEL) ("Vanoil" or the "Company") announces that the board of directors ha
--->s instructed management to conduct an immediate review of all Company operations.  The priority goal is to eliminate n
--->on-essential costs, dispose of non-productive assets and secure sufficient funding to enable Vanoil to aggressively pu
--->rsue its legal arbitration claims against the Republic of Kenya.
Mr. Padgett, interim President and CEO noted; "The immediate response of management in implementing our new directives
---> is greatly appreciated.  We believe our new plan will quickly reduce monthly costs by over 75% and allow the Company 
--->to focus on reaching a full and fair settlement with the Republic of Kenya for the loss of money, time and opportunity
---> experienced by the Company over the past several years".
On behalf of the Board of
VANOIL ENERGY LTD.
James Passin
Chairman
To find out more about Vanoil, please visit our website at www.vanoil.ca, email: info@vanoil.ca or contact:
Malcolm Burke 
+1 604 689 1515 x 108 or
+1 604 220 2000

Don Padgett
+1 604 689 1515 x 104 or
+1 604 763 1229

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX 
--->Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward Looking Information
This news release includes forward-looking statements that are subject to assumptions, risks and uncertainties. Statem
--->ents in this news release which are not purely historical are forward-looking statements, including without limitation
---> any statements concerning the Company's intentions, plans, estimates, beliefs or expectations regarding the future. A
--->lthough the Company believes that any such intentions, plans, estimates, beliefs and expectations in this news release
---> are reasonable, there can be no assurance that any such intentions, plans, beliefs and expectations will prove to be 
--->accurate.
The Company cautions readers that all forward-looking statements, including without limitation those relating to the C
--->ompany's future operations and business prospects, are based on assumptions that cannot be assured and are subject to 
--->certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in
---> the forward-looking statements.  Readers are advised to rely on their own evaluation of such risks and uncertainties 
--->and should not place undue reliance on forward-looking statements.
Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to 
--->update the forward-looking statements, or to update the reasons why actual events or results could or do differ from t
--->hose projected in the forward-looking statements.  The Company assumes no obligations to update any forward-looking st
--->atements, whether as a result of new information, future events or otherwise.