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.
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The new licences add a further 1,075 km of prospective area, more than quadrupling Exillon TP's total area to 1,419 km.
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