Block Energy PLC (LON:BLOE) Operations Update

Paul Haywood, Director of Block Energy, said: “We’re delighted to announce further significant progress in our multi-well campaign with the completion of drilling operations at WR-38Z. We look forward to announcing the test flow rate as soon as we are able to do so.”

Roger McMechan, Technical Director, has reviewed the operational, reserve, resource and production information contained in this announcement. Mr McMechan has a BSc in Engineering from the University of Waterloo, Canada and is a Professional Engineer registered in Alberta.

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to announce the completion of drilling at well WR-38Z (“WR-38Z” or “the Well”) at its flagship West Rustavi field (“West Rustavi” or “the Field”) following the reaching of planned total depth (“TD”) and installation of a slotted production liner.

A final TD of 2,634m was reached with the successful drilling of 646m of a highly-deviated, horizontal wellbore section into the Field’s primary oil-bearing Middle Eocene formation. Drilling operations were completed with the subsequent installation of a slotted 4½” production liner. Field observations at the wellsite indicate multiple natural fractures, and oil shows were encountered during drilling. Direct measurements of WR-38Z’s productivity will be available when the Company’s planned well test is complete: Block will provide further guidance on the Well’s test results over the coming weeks.

As the Company announced on 21 October 2019 WR-38Z’s design has been informed by valuable data gained through operations at the first West Rustavi well that the Company drilled, the appraisal well WR-16aZ. WR-38Z’s design includes the use of swellable packers that guard against possible fluid incursion from formations beyond the targeted Middle Eocene zone.

WR-38Z is the second in the multi-well programme Block is pursuing to realise West Rustavi’s oil and gas potential. The Company plans to sidetrack three other wells, and is currently acquiring a 3D seismic survey to provide a comprehensive understanding of West Rustavi’s subsurface to facilitate the identification of optimal locations for future drilling.


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