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IN BRIEF: Block Energy revenue falls despite higher production

Mon, 11th Jul 2022 15:52

Block Energy PLC - London-based oil and gas company focused in Georgia - Reports "strong and consistent" second quarter performance in 2022 with average production of 519 barrels of oil equivalent per day, up from 512 boepd in the previous quarter. Revenue, however, falls to USD2.2 million from USD2.4 million. Adds that the preparations for a five-well development plan are complete and ready for execution.

Current stock price: 1.25 pence, down 12% in London on Monday afternoon

12-month change: down 51%

By Heather Rydings; heatherrydings@alliancenews.com

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