Junior oil and gas
explorer, Exile Resources Inc., said it received a formal exploration
licence for its project in northeastern Zambia. Exile Resources, which
has an investment licence for Block 26, is currently reviewing data and
undertaking geochemical surveys to study the potential for oil and gas
in Zambia.
The Toronto-based company, which is focused on the
acquisition and development of oil and gas properties in sub-Saharan
Africa, also said first production at its Akepo field project in
Nigeria is targeted for May 2011. Nigerian oil company, Sogenal Ltd.,
has a 60 per cent stake in the property, while Exile owns the rest.
