Block Energy plc has raised £1,499,974 via an institutional placing of, and direct subscriptions for, a total of 214,282,000 new ordinary shares of 0.25 pence each, at an issue price of 0.7 pence per share. TVRs The company, with oil and gas assets in Georgia, said the fundraise had attracted strong demand from new and existing investors. The fundraise, […]
Tag: Block Energy plc
Block to ‘slim hole’ drill sidetrack at West Rustavi
Block Energy plc plans to drill a sidetrack using directional pilot ‘slim hole’ technology in late September-October on the West Rustavi/Krtsanisi field, onshore Georgia. FARM-OUTS Operations, funded from existing cash resources, are part of project I, one of four running simultaneously in the company’s portfolio. Block said that the technology would be used for the first […]
Block issues 3.4m shares in options exercise
Block Energy plc has allotted 3,345,398 ordinary shares of 0.25p each to a former employee, following the exercise on 20 May 2025 of nil cost options. The options were granted as part of the salary sacrifice scheme between April 2020 and April 2023. Following admission, the company’s issued share capital will comprise 772,653,343 ordinary shares […]
Block acquires share in Martkopi Terrace
Block Energy plc has acquired a 10% participating interest in the XIQ production sharing contract containing Martkopi Terrace prospect with 267.2 MMbbl prospective resources in Georgia. STRATEGY XIQ comprises six PSCs of XIC, XIK, XIM, XIN, XIQ and Didi Lilo, which were combined in 2024 to create the enlarged single PSC to attract a farm-in […]
Block acquires Samgori South Dome
Block Energy plc has acquired a further 574 billion cubic feet unrisked prospective resources by securing the operational rights in the Samgori South Dome field in southeast Georgia. STRENGTHEN The company’s rights cover the Upper Eocene, Lower Eocene and Upper Cretaceous, following confirmation from the State Agency of Oil and Gas of Georgia. National […]
Block issues 36m shares and 10.5m options
Block Energy plc, focused on Georgia, issued 35,912,008 shares of 0.25 pence each and 10,548,289 nil-cost options over ordinary shares under its performance related scheme. DIRECTORS /PDMRs The company’s renumeration committee made the awards to a senior executive, two management and four staff for the financial year ended 3 December 2024. Additionally, on 6 February […]