Last checked at 31 Oct 2019 08:19
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.