Block Energy P. Regulatory News (BLOE)

Block Energy Plc(the "Company")

15 April 2019

Exercise of Warrant

Block Energy Plc, announces that it has today allotted 1,837,500 new ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") pursuant to the exercise of a warrant. Application has been made for the admission to trading on AIM ("Admission") for the new Ordinary Shares The warrant exercised had an exercise price of 4 pence. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company. Admission of the new Ordinary Shares is expected on 23 April 2019.

Following Admission, the Company's issued share capital will comprise 272,281,892 Ordinary Shares which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

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NOTES TO EDITORS

About Block Energy

Block Energy (BLOE.L) is an AIM quoted oil and gas company with a growing portfolio of production, development and exploration assets in the Republic of Georgia. Block holds a 100% WI in the producing Norio licence, a 90% WI in the producing Satskhenisi licence and a 71.5% WI in the West Rustavi licence, with an agreement to take a 100% WI.

For more information see www.blockenergy.co.uk