Block Energy P. Regulatory News (BLOE)

8 April 2022

Block Energy plc

("Block" or the "Company")

Director/PDMR Dealing

Block Energy plc, the development and production company focused on Georgia, announces that, today, it was advised by Dr Kenneth Seymour, a non-executive director of the Company that today, in a "Bed and ISA" transaction, he sold 553,795 ordinary shares of 0.25p each ("Ordinary Shares") at a price of 1.10 pence per share and purchased the same number of Ordinary Shares at a price of 1.24 pence per share.

Following these transactions, Dr Kenneth Seymour's resulting beneficial holding is unchanged at 1,135,888 Ordinary Shares, representing 0.17% of the Company's issued share capital of 657,174,343 Ordinary Shares.

**ENDS**

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

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

Notes to editors

Block Energy plc is an AIM-listed independent oil and gas company focused on production and development in Georgia, applying innovative technology to realise the full potential of previously discovered fields.

Block has a 100% working interest in Georgian onshore licence blocks IX and XIB. Licence block XIB is Georgia's most productive block, with 2P reserves of 64 MMboe, comprising 2P oil reserves of 36 MMbbls and 2P gas reserves of 28 MMboe (Source: CPR Bayphase Limited: 1 July 2015) and historical production of over 180 MMbbls of oil from the Middle Eocene, peaking in the mid-1980s at 67,000 bopd.

The Company has a 100% working interest in the 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 unrisked 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 respectively 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 the strong regional demand for oil and gas.

Glossary

1. bbls: barrels. A barrel is 35 imperial gallons.

2. Bcf: billion cubic feet.

3. boe: barrels of oil equivalent.

4. bopd: barrels of oil per day.

5. Mbbls: thousand barrels.

6. MMbbls: million barrels.

7. MMboe: million barrels of oil equivalent.

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.