Exillon Energy has bought peer LLC VenlockNeft for 2.5m dollars, quadrupling the exploration area of its Timan-Pechora division in Northern Russia.
Venlock owns four exploration licenses in Timan-Pechora. Two licences lie immediately to the south of Exillon's existing fields, the other two are 600km to the south.
All four licences are covered with 2D seismic, and have been audited according to the Russian classification of reserves.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The new licences add a further 1,075 km of prospective area, more than quadrupling Exillon TP's total area to 1,419 km.
BS
-
Should I get a financial adviser?Getting a financial adviser could be the best investment you make, but who really needs one and do they add any value?
-
Workplace pension salary sacrifice schemes could be under threat as HMRC explores optionsHMRC has published research which looks at hypothetical cuts to salary sacrifice for workplace pensions
