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.
Source Link www.proactiveinvestors.co.uk
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