Block Energy P. Regulatory News (BLOE)

Block Energy Plc(the "Company")

13 June 2019

Exercise of Warrants

Block Energy Plc announces that it has today allotted 275,674 new ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") pursuant to the exercise of warrant. Application has been made for the admission to trading on AIM ("Admission") for the new Ordinary Shares. The options exercised had an exercise price of 4 pence, and amount in aggregate to £11,026.96. 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 or around 19 June 2019.

Following Admission, the Company's issued share capital will comprise 389,064,667 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