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  2. Share Prices
  3. Block Energy P. Share Price
  4. Block Energy P. Share News
  5. IN BRIEF: Block Energy shares down as quarterly oil production falls

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

Block Energy P. Information

Share Price Information for Block Energy P. (BLOE)

London Stock Exchange
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Share Price: 1.55
Bid: 1.50
Ask: 1.60
Change: 0.00 (0.00%)
Spread: 0.10 (6.667%)
Open: 1.55
High: 1.55
Low: 1.55
Prev. Close: 1.55
BLOE Live PriceLast checked at -

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IN BRIEF: Block Energy shares down as quarterly oil production falls

Thu, 12th Oct 2023 14:14

Block Energy PLC - exploration and production company focused on Georgia - In the third quarter to September 30, average output declines to 630 barrels of oil equivalent per day from 664 boepd in the second quarter. Notes third successful project 1 well, with WR-34Z placed on production at 150 boepd.

Chief Executive Officer Paul Haywood says: "The third quarter of the year saw continued progress from the company. Block's third consecutive well continues to add confidence to our project I drilling strategy, whilst positioning the company to pursue the higher impact opportunities throughout our portfolio, such as those defined within project III and now being audited by RISC [Advisory]. Focus now shifts to the spud of our fourth well under this programme, KRT-45Z whilst we continue to advance our high impact strategy across project III. I look forward to providing further updates on this activity soon."

Current stock price: 0.97 pence, down 10% on Thursday

12-month change: down 57%

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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Block Energy notes CPR supports future West Rustavi field activity

Block Energy PLC - London-based oil and gas company focused in Georgia - Results from Competent Person's Report covering the Krtsanisi Anticline of the West Rustavi and Krtsanisi oil field, are in support of Block's sub-surface studies, and provides the basis to seek development financing for the next five wells of project I, the development of the Middle Eocene oil reservoir.

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Block Energy secures licensing rights of Block XI until 2043

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IN BRIEF: Block Energy revenue falls despite higher production

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