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Block Energy PLC

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

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 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.

Quick facts: Block Energy PLC

Price: £0.07

Market: AIM
Market Cap: £26.37 m
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Non-exec Chris Brown explains Block Energy's upcoming exploration at West...

Chris Brown, industry veteran and non-executive director at Block Energy PLC (LON:BLOE), explains the thinking and aims of the upcoming drill programme at West Rustavi in Georgia. Georgia is an amazing geological structure, he explains to Proactive,  but unlike more uniform structures it...

6 days, 15 hours ago

2 min read

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