Block Energy plc will issue 371,657 ordinary shares of 0.25p each, following an exercise of nil-cost share options, granted under the November 2025 capital structure simplification. TVRs Following admission, the company’s total issued share capital will comprise 1,469,751,612 ordinary shares, with one voting right each. The company does not hold any shares in treasury. Block […]
Tag: Block Energy plc
Block completes $6.3m fundraise
Block Energy plc has raised US$6.3 million (£4.66m) from a private placement and retail offer to fund its investment in two oil and gas production sharing contracts, offshore Gabon. TVRs The company raised $6.23 million (£4.61m) through the placing of 418,701,200 shares, at the issue price of 1.1 pence per ordinary share. The retail offer […]
Block agrees conditional entry into Gabon
Block Energy plc has conditionally agreed to invest in the Ndjila and Mpari production sharing contracts offshore Gabon, through a proposed US$6.3 million (£4.65m) fundraise. POTENTIAL The agreement, which adds to the company’s existing Georgia oil and gas asssets, is with Pilgrim Exploration Ltd whose subsidiaries own a 90% interest in the PSCs. The project […]
Block issues 30m shares as bonuses
Block Energy plc has settled bonuses by issuing 30,428,200 ordinary shares of 0.25p each, and 9,231,083 nil-cost options over ordinary shares, to senior executives and employees. TVRs The company’s remuneration committee made the awards, for performance during 2025, to a director, one person discharging managerial responsibilities and staff members. Chief executive officer Paul Haywood received […]
Block extends £2m senior loan facility
Block Energy plc has extended its existing $2 million senior secured loan facility for a further 18 months to 2 August 2027. DIRECTORS The loan, orginally agreed in February 2023, was increased to $2m in May 2023, and the original 18-month term extended to July 2024 and then to February 2026. In relation to the […]
Block completes farm-out for XIQ
Block Energy plc has completed the farm-out of licence XIQ, containing the Martkopi Terrace prospect, following approval from the Georgia Government. STRATEGY The transaction with US-based Aspect Energy Group, will see Block fully carried through the staged work, which includes seismic, exploration and appraisal drilling, and early production facilities. Aspect’s subsidiary in Georgia will fund […]