Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBlock Energy P. Share News (BLOE)

Share Price Information for Block Energy P. (BLOE)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1.225
Bid: 1.15
Ask: 1.30
Change: -0.10 (-7.55%)
Spread: 0.15 (13.043%)
Open: 1.325
High: 1.325
Low: 1.20
Prev. Close: 1.325
BLOE Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Block Energy launches two-well sidetracking programme

Wed, 23rd Jan 2019 16:00

(Sharecast News) - Block Energy rose on Wednesday after beginning sidetrack operations in the existing 16a wellbore at its West Rustavi field in the Republic of Georgia.The works on 16a are part of an initial two-well horizontal sidetrack drilling programme at which the company is targeting combined gross production of 650 barrels of oil per day (bopd) from the proven Middle Eocene formation before the end of June.Works follow December tests that retrieved over 200 barrels in the space of 10 hours from the previously producing reservoir, confirming that it is still an active hydrocarbon system and remains pressurised.Paul Haywood, chief executive of Block, said: "With gross contingent resources of 38 MMbbls of oil, a total of six historic wells identified as suitable candidates for sidetracking, and a legacy gas discovery, the potential for West Rustavi to generate significant cash flow and value for Block is clear."Block currently holds a 25% working interest in West Rustavi, which has an estimated 38 MMbbls of gross contingent resources of oil, according to a report from Gustavson Associates, and stands to increase its interest to 75% upon completion of the two-well sidetrack programme as part of an agreed earn-in.The AIM traded company said that four other wells have been identified at West Rustavi offering similar opportunities for re-entry and sidetracking."With back-to-back drilling planned at West Rustavi and multi-well workovers underway at Norio, we expect the strong momentum behind the company to continue as we focus on hitting our H1 2019 target of 900 bopd," said Haywood.In a statement, the company also announced the departure of finance director Serina Bierer, who is stepping down with immediate effect "to concentrate on her other work interests" after giving "a significant contribution" to the company's IPO and annual report.Block Energy's shares were up 4.18% at 3.49p at 1622 GMT.
More News
31 Aug 2023 14:43

Block Energy reaches total depth with latest well

(Sharecast News) - Georgia-focussed development and production company Block Energy announced on Thursday that well WR-34Z had reached total depth, and drilling operations had ceased.

Read more
26 Jul 2023 13:22

IN BRIEF: Block Energy announces spud of WR-34Z well in West Rustavi

Block Energy PLC - London-based oil and gas exploration and production company which operates the West Rustavi, Norio and Satshenisi oil fields in Georgia - Announces spud of development well WR-34Z in West Rustavi. Says well forms part of the development of 3.01 million barrels of oil gross 3P reserves, with a net present value of USD57.0 million.

Read more
5 Jul 2023 10:29

Block Energy oil production rises in second quarter

(Alliance News) - Block Energy PLC said on Wednesday that its oil production increased quarter-on-quarter, and announced that Guram Maisuradze had been appointed chief operating officer.

Read more
13 Jun 2023 15:54

UK shareholder meetings calendar - next 7 days

Wednesday 14 June 
abrdn Property Income Trust LtdAGM
abrdn Smaller Companies Income Trust PLCAGM
Andrews Sykes Group PLCAGM
Aquila Energy Efficiency Trust PLCAGM
Aurrigo International PLCAGM
Brave Bison Group PLCAGM
Christie Group PLCAGM
Foresight Solar Fund LtdAGM
IGas Energy PLCAGM
International Consolidated Airlines Group SAAGM
Iofina PLCAGM
James Fisher & Sons PLCAGM
Liberty Global PLCAGM
M&C Saatchi PLCAGM
Octopus Titan VCT PLCAGM
Petards Group PLCAGM
Thursday 15 June 
Amaroq Minerals LtdAGM
Anexo Group PLCAGM
ASA International Group PLCAGM
Baillie Gifford China Growth Trust PLCAGM
Chapel Down Group PLCAGM
Directa Plus PLCAGM
Everyman Media Group PLCAGM
HC Slingsby PLCAGM
Inspecs Group PLCAGM
Informa PLCAGM
IP Group PLCAGM
LBG Media PLCAGM
M&G Credit Income Investment Trust PLCGM re amendment to the company's articles of association
Novacyt SAAGM
OTAQ PLCAGM
Parity Group PLCAGM
PetroTal CorpAGM
Pollen Street PLCAGM
Shaftesbury Capital PLCAGM
Southern Energy CorpAGM
Friday 16 June 
Alpha Growth PLCAGM
Anglo-Eastern Plantations PLCAGM
Gulf Keystone Petroleum LtdAGM
John Lewis of Hungerford PLCGM re proposed cancellation of admission to trading on AIM
Tesco PLCAGM
Woodbois LtdAGM
Monday 19 June 
All ThingsConsidered Group PLCAGM
Blackbird PLCAGM
Finsbury Food Group PLCAGM
Globalworth Real Estate Investments LtdAGM
Marlowe PLCGM re proposed capital reduction
Metals Exploration PLCAGM
Red Rock Resources PLCGM re security conversion into shares for cash
Savannah Resources PLCAGM
Tuesday 20 June 
Acceler8 Ventures PLCAGM
Afentra PLCAGM
Armadale Capital PLCAGM
Bay Capital PLCAGM
Blackrock Smaller Companies Trust PLCAGM
Block Energy PLCAGM
Corero Network Security PLCAGM
Coro Energy PLCAGM
Crimson Tide PLCAGM
Curtis Banks Group PLCAGM
EPE Special Opportunities LtdAGM
ICG-Longbow Senior Secured UK Property Debt Investments LtdAGM
Jersey Oil & Gas PLCAGM
Kore Potash PLCAGM
Lords Group Trading PLCAGM
Mission Group PLCAGM
North Atlantic Smaller Cos Investment Trust PLCAGM
Red Capital PLCAGM
Saga PLCAGM
SDX Energy PLCAGM
Skillcast Group PLCAGM
Zegona Communications PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
11 May 2023 11:47

Block Energy shares soar as production growth drives yearly revenue

(Alliance News) - Block Energy PLC on Thursday said growth in production and improved oil pricing led its annual double-digit revenue growth.

Read more
17 Apr 2023 16:34

TRADING UPDATES: Anglo Asian gold output down; Faron hails antibody

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Read more
11 Apr 2023 10:50

IN BRIEF: Block Energy shares surge on deal with Georgia ministry

Block Energy PLC - London-based oil and gas exploration and production company focused on Georgia - Signs a deal with the Ministry of Economy & Sustainable Development of Georgia for an undisclosed sum. Says the deal will cover government support and initiatives for the developments of projects I, II, III and IV through "data sharing, cooperation and the facilitation of meetings with national and regional large oil companies".

Read more
11 Apr 2023 10:34

AIM WINNERS & LOSERS: Spectral MD to move Nasdaq in Spac deal

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

Read more
6 Apr 2023 15:36

Block Energy pulls pin on Covid salary sacrifice scheme

(Sharecast News) - Georgia-focussed developer and producer Block Energy announced the termination of its salary sacrifice scheme on Thursday, effective from 1 April.

Read more
6 Apr 2023 12:00

LONDON MARKET MIDDAY: FTSE 100 higher ahead of US employment data

(Alliance News) - Stock prices in London were higher at midday on Thursday, as investors cautiously look ahead to a key US labour market reading out this afternoon.

Read more
6 Apr 2023 10:32

AIM WINNERS & LOSERS: Block Energy up as financial position improves

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

Read more
6 Apr 2023 10:04

Block Energy ends salary sacrifice as financial position improves

(Alliance News) - Block Energy PLC on Thursday said it terminated its salary sacrifice scheme on Friday last week, as its financial position has improved.

Read more
3 Apr 2023 11:51

Block Energy project performance encouraging amid WR-B01Za results

(Alliance News) - Block Energy PLC said on Monday that Project I continues to perform better than predicted.

Read more
9 Mar 2023 14:29

IN BRIEF: Block Energy jumps on farm-out at licence XIB in Georgia

Block Energy PLC - Georgia-focused oil and gas exploration and production company - Completes farm-out agreement of part of licence XIB with Georgia Oil & Gas Ltd. Block Energy now holds a 50% interest in the new Didi Lilo and South Samgori areas of XIB. Adds that Georgia Oil & Gas have completed the seismic activities agreed under the farm-out agreement.

Read more
28 Feb 2023 14:33

TRADING UPDATES: Celsius hails MCB assays; Brandshield revenue rises

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.