Paul Haywood, chief executive of Block Energy PLC (LON:BLOE) targeting 1500 barrels a day

Paul Haywood, chief executive of Block Energy PLC (LON:BLOE), chats to Proactive London’s Andrew Scott after closing the bookbuild for their new placing.

Block Energy targeting 1500 barrels a day by end of 2019 as Georgia exceeds all expectations

 

Proactive Investors Stocktube Uploaded on May 21, 2019

 

Block launched a £12mln equity raise to fund an accelerated growth strategy in the Republic of Georgia.The cash injection will pay for the drilling of up to four new horizontal sidetrack wells to scale up production, the expansion of production facilities to provide capacity for 4,000 to 5,000 barrels of oil per day, and the acquisition of 3D seismic data.

 

Andrew Scott

 

Source Link www.proactiveinvestors.co.uk

 

 

Article originally published by proactive investors. Share Talk is not responsible for its content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

 

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