BLOE Block Energy Plc

TIDMBLOE

Block Energy PLC

19 June 2020

19 June 2020

Block Energy plc

("Block Energy", "Block" or the "Company")

AGM Video

Block Energy Plc, the exploration and production company focused on Georgia, held its AGM yesterday, attended by Philip Dimmock (Chairman) and Paul Haywood (CEO). A video of the proceedings, including the resolutions and a corporate summary, is now available https://vimeo.com/430629812 .

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

 
 Paul Haywood           Block Energy Plc              Tel: +44 (0)20 
  (Chief Executive                                     3980 6250 
  Officer) 
 Neil Baldwin           SPARK Advisory Partners       Tel: +44 (0)20 
  (Nominated Adviser)    Limited                       3368 3554 
 Peter Krens            Mirabaud Securities Limited   Tel: +44 (0)20 
  (Corporate Broker)                                   3167 7221 
 Billy Clegg /          Camarco                       Tel: +44 (0)20 
  Owen Roberts /                                       3757 4980 
  Violet Wilson 
  (Financial PR) 
 

Notes to editors

Block Energy 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.

The Company has a 100% working interest in the highly prospective 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 Energy also holds 100% and 90% working interests in the onshore oil producing Norio and Satskhenisi fields. It has recently entered into a conditional sale and purchase agreement for Georgian onshore Blocks XI (B) and IX.

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.

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June 19, 2020 05:54 ET (09:54 GMT)

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