Exillon increases licence area in northern Russia

Exillon Energy has bought peer LLC VenlockNeft for 2.5m dollars, quadrupling the exploration area of its Timan-Pechora division in Northern Russia.

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.

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