Block Energy plc reported stable production from well JKT-01Z, with operations at West Rustavi in Georgia unaffected by “wider geopolitical tensions”. PRODUCTION The company said that production was at a current rate of 310 boepd, comprising 182 bopd and 21,800 m3 (128 boe) of gas per day. “It is encouraging to note, after over a month of […]
Tag: Block Energy plc
Block notes options issue and PDMR dealings
Block Energy plc issued nil-cost options over a total of 2,429,948 ordinary shares of 0.25p each to its directors, employees and consultants. CASH CONSERVATION The options were issued in lieu of cash payment for 40% of salaries and consultants’ fees and up to 50% of directors’ fees. This is in accordance with the cash conservation […]
Block makes good progress on testing well JKT-01Z, Georgia
Block Energy plc said it had made good progress testing well JKT-01Z with initial rates of 344 boepd at the company’s operations in Georgia. OPERATIONS Well JKT-01Z reached total depth at 2,565 metres measured depth as planned in early January 2022 . Production comprised 241 bopd and 17,500 m3 of gas per day. The company recorded no […]
Block starts drilling JKT-01Z well in XIB
Block Energy plc announced it had started drilling JKT-01Z well yesterday, targeting circa eight million barrels of oil-in-place, at its project in Georgia. PROGRAMME Well JKT-01Z is the second well in the company’s current two-well drill programme and lies near the vertical well KRT-39, which has produced c.450 Mbbls of oil over the past 20 […]
Block appoints Jeremy Asher as senior director
Block Energy plc has appointed Jeremy Asher as senior independent director, with immediate effect. Mr Asher was appointed to the board during August this year as non-executive director. He has extensive public listed company experience, including currently being on the board of Tower Resources plc, and having previously served on the boards of Pacific Drilling […]
Block Energy issues share options to PDMRs
Block Energy plc has issued nil-cost options over a total of 2,866,022 ordinary shares of 0.25p each to directors/PDMRs*, employees and consultants as part of cash conservation measures. CASH CONSERVATION The options issued on 3 December were issued in lieu of cash payment for 40% of salaries and consultants’ fees and up to 50% of […]