Vermilion's establishment of early entry positions in Croatia, Hungary and Slovakia represents an extension of our European growth strategy.
Our positions are characterized by modest, back-loaded commitments covering acreage that is prospective for both oil and gas and that can benefit from the application of new technology.
Our position in Croatia covers nearly 2.35 million acres (100% working interest) making Vermilion the largest onshore landholder in the country. A significant portion of our acreage is located near producing oil and gas fields.
We hold more than 650,000 acres in Hungary (100% working interest) across the South Battonya, Ebes and Békéssámson concessions.
In Slovakia, we have partnered with NAFTA, the country's dominant E&P in a farm-in arrangement which grants us a 50% working interest to jointly explore 490,000 acres across two licenses.
In Ukraine, we have been awarded two exploration licenses in a 50/50 partnership with Ukrgazvydobuvannya ("UGV“), a Ukrainian state owned gas producer.