Member Info for Terrier54

31 October 2019

Block Energy Plc

("Block" or the "Company")

AGM Presentation

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, will hold its Annual General Meeting ("AGM") at 10.00am today at the offices of Shakespeare Martineau LLP, 6th Floor, 60 Gracechurch Street, London, EC3V 0HR.

During the AGM the Company will present a review of the past year's activities featuring a presentation that will be available on the website from 10:00am at the following location: http://www.blockenergy.co.uk/media/presentations/.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

For further information please visit http://www.blockenergy.co.uk/ or contact:

Paul Haywood

(Chief Executive Officer)

Block Energy Plc

Tel: +44 (0)20 3980 6250

Neil Baldwin

(Nominated Adviser)

Spark Advisory Partners Limited

Tel: +44 (0)20 3368 3554

Peter Krens

(Corporate Broker)

Mirabaud Securities Limited

Tel: +44 (0)20 3167 7221

Billy Clegg / Owen Roberts / Violet Wilson

(Financial PR)

Camarco

Tel: +44 (0)20 3757 4980

Notes to editors

Block Energy is an AIM-listed independent oil and gas company focused on production and development in the Republic of Georgia, applying innovative technology to realise the full potential of previously discovered fields. The company is pursuing a fully-funded multi-well programme through 2019/20 designed to convert contingent resources to reserves, and reserves to revenue.

The Company has a 100% working interest in the highly prospective West Rustavi onshore oil and gas field with multiple wells that have tested oil and gas from a range of geological horizons. The Field has so far produced 50 Mbbls of light sweet crude, and has 0.9 MMbbls of gross 2P oil reserves in the Middle Eocene. It also has 38 MMbbls of gross 2C contingent resources of oil and 608 BCF of gross unrisked 2C contingent resources of gas in the Middle, Upper and Lower Eocene formations (Source: CPR Gustavson Associates: 1 January 2018).

Block also holds 100% and 90% working interests in the onshore oil producing Norio and Satskhenisi fields.

The Company offers a clear entry point for investors to gain exposure to Georgia's growing economy and strong regional demand for oil and gas.

Simple Simon just read the previous RNS..

"Encouragingly, the WR-16aZ appraisal well has proved the productivity of the Middle Eocene naturally fractured oil reservoir.

Ready for my top up when the daft ones have left. ;)

More steady rise today.

Much better.

Thanks AJW informative as always.
Going to be an interesting Agm !

As I've mentioned this time they're going to make sure everything is spot on. Lessons learned.
Multiple fractures and oil shows !
Beautiful.

31 October 2019

Block Energy Plc

("Block" or the "Company")

Operations Update

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to announce the completion of drilling at well WR-38Z ("WR-38Z" or "the Well") at its flagship West Rustavi field ("West Rustavi" or "the Field") following the reaching of planned total depth ("TD") and installation of a slotted production liner.

A final TD of 2,634m was reached with the successful drilling of 646m of a highly-deviated, horizontal wellbore section into the Field's primary oil-bearing Middle Eocene formation. Drilling operations were completed with the subsequent installation of a slotted 4½" production liner. Field observations at the wellsite indicate multiple natural fractures, and oil shows were encountered during drilling. Direct measurements of WR-38Z's productivity will be available when the Company's planned well test is complete: Block will provide further guidance on the Well's test results over the coming weeks.

As the Company announced on 21 October 2019 WR-38Z's design has been informed by valuable data gained through operations at the first West Rustavi well that the Company drilled, the appraisal well WR-16aZ. WR-38Z's design includes the use of swellable packers that guard against possible fluid incursion from formations beyond the targeted Middle Eocene zone.

WR-38Z is the second in the multi-well programme Block is pursuing to realise West Rustavi's oil and gas potential. The Company plans to sidetrack three other wells, and is currently acquiring a 3D seismic survey to provide a comprehensive understanding of West Rustavi's subsurface to facilitate the identification of optimal locations for future drilling.

Paul Haywood, Director of Block Energy, said:

"We're delighted to announce further significant progress in our multi-well campaign with the completion of drilling operations at WR-38Z. We look forward to announcing the test flow rate as soon as we are able to do so."

Excellent summary SEA7
I believe they've all taken a deep breath at BLOE and are really making sure this opportunity is maximised.
The new team on board have been brought in because the basics are there and in quantity, it just needs the latest expertise to extract it.
It may take a little longer on this next drill and the 3nD is paramount to future success.
Fingers crossed for all.

Heavy buys incoming at the end of day.

Prepared to buy plenty.

Excellent sign for the next news !

Had a trade high of 9.5p today .
Time to move back.

Some profit taking as expected but nicely positioned to regain a stronger position.
Expecting us to move with drill news very close now.

GLE

An overhang but once cleared should bounce back.

The next update could double this SP.

I'm staying put.

Selling atm. hasn't done their research.
Still it takes all sorts.

No worries just MM's sorting things out before the bounce ;)

Entry price now after the Gas news. imo.

DYOR

Well Jekyll that's a 500% improvement on your last prediction in September ! Lol.
Get back to stacking the shelves.

Forget the Oil it's all about the Gas ;)

Has swung firmly back up this last 10 days and for good reason.
Anyone going to AGM as I don't live in UK ?