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
-
Review: Trasierra – a yoga retreat in the Spanish hillsFlora Connell joins a yoga retreat at Trasierra, in the Sierra Morena mountains north of Seville
-
How much should I have in emergency savings?When your boiler breaks or your car won’t start, you can find yourself paying a hefty bill. How much should you have in emergency savings to cover unexpected costs?
