Last checked at 8 Aug 2019 07:00
Block Energy Plc | Index: AIM | Epic: BLOE.L | Sector: Oil and Gas
Preparation for Horizontal Sidetrack Begins at West Rustavi Well 38Z
8 August 2019
Block Energy Plc ('the Company' or 'Block'), the exploration and production company focused on the Republic of Georgia, is pleased to announce the mobilisation of an A50 service rig to the site of well 38Z at its flagship West Rustavi field ('the Field') in preparation for planned horizontal sidetrack operations.
Well 38Z is one of four wells scheduled to be sidetracked across the Field, in which Block now holds a 100% working interest. Well 38Z is analogous, adjacent and updip to well 16aZ, where Block resumed production last month (https://bit.ly/2SRUO2l). Both wells target the same Middle Eocene formation. The Company will draw on the valuable experience gathered from the drilling of well 16aZ to optimise the completion design for well 38Z.
The Company is also preparing a set of Frequently Asked Questions ('FAQs') for publication on its website to provide stakeholders with ready answers to common enquiries. The Company will announce this update through the RNS Reach service.
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.
**ENDS**
Further information
For further information please visit http://www.blockenergy.co.uk/ or contact:
Paul Haywood (Chief Executive Officer) | Block Energy Plc | Tel: +44 (0)20 7997 6136
|
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 |
Frank Buhagiar/Juliet Earl (Financial PR) | St Brides Partners Ltd | Tel: +44 (0)20 7236 1177 |
Notes
1. Well 16aZ has been referred to as well 16a in previous updates. The Company is now referring to the well as 16aZ to reflect the addition of the horizontal sidetrack to the vertical well.
2. Block Energy is using the suffix Z in a well number to indicate a horizontal sidetrack.
3. RNS Reach is an investor communication service designed to assist listed and unlisted - including AIM quoted - companies to publish non-regulatory news releases such as marketing messages, corporate and product information to the public domain.