28 May 2024
Block Energy
Plc
("Block"
or the "Company")
Posting of Annual Report and
Notice of AGM
Block Energy plc, the development and
production company focused on Georgia, confirms that it has today
sent to shareholders the Annual Report for the year ended 31
December 2023 and notice of meeting for the Company's annual
general meeting ("AGM").
The AGM will held at 11.00am on 20
June 2024 at 33 Cavendish Square, London, W1G 0PW.
A copy of the Annual Report and AGM
Notice is available on http://www.blockenergy.co.uk/
**ENDS**
For
further information please
visit http://www.blockenergy.co.uk/ or
contact:
|
Paul
Haywood
(Chief Executive Officer)
|
Block Energy plc
|
Tel: +44 (0)20 3468 9891
|
|
Neil
Baldwin
(Nominated Adviser)
|
Spark Advisory Partners Limited
|
Tel: +44 (0)20 3368 3554
|
|
Peter
Krens
(Corporate Broker)
|
Tennyson Securities
|
Tel: +44 (0)20 7186 9030
|
|
Philip Dennis / Mark Antelme / Ali
AlQahtani
(Financial PR)
|
Celicourt
Communications
|
Tel: +44 (0)20 7770
6424
|
Notes to editors
Block Energy plc is an AIM quoted
independent oil and gas production and development company with a
strategic focus on unlocking the energy potential of Georgia. With
interests in seven Production Sharing Contracts in central Georgia,
covering an area of 4,256 km2, including the XIB licence
which has over 2.77TCF of 2C contingent gas resources,
with an estimated Net Present Value 10
("NPV") of USD 1.65 billion, in the
Patardzueli-Samgori, Rustavi and Teleti
fields. (Source: IER, OPC 2024 &
Internal estimates).
The Company has structured its
operations around a four-project strategy. These projects,
characterized by development stage, hydrocarbon type, and
reservoir, are pursued concurrently to achieve multiple objectives.
This includes increasing existing production, redeveloping fields,
discovering new oil and gas deposits, and capitalizing on the
substantial, yet untapped, gas resource across its licences. The
goal is to deliver on multi TCF gas assets, strategically well
located for the key EU market, supported by partner funding and
cash from existing producing assets.
Located near the Georgian capital of
Tbilisi, Block Energy is well-positioned to contribute
significantly to the region's energy landscape. This proximity
facilitates seamless operations and underscores our commitment to
the economic and energy development of Georgia.