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
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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