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: Georgia
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 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 simplifies capital structure
Block Energy plc has cancelled unexercised options and issued new shares to its directors and staff voluntarily participating in a scheme to simplify the company’s capital structure. EBT The exercise follows the company’s review which identified the number of unexercised share options, equal to some 11.3% of its fully diluted share capital, as a “material […]
Block CEO increases voting rights
Block Energy plc chief executive officer and director Paul Haywood has increased his voting rights in the Georgia-focused oil and gas developer and producer. TVRs A TR-1 notification states that on 13 November 2025, Mr Haywood held 134,139,905 shares, and had increased his voting rights from 5.82% to 13.3%. The change has made him the […]
Block agrees Martkopi Terrace licence farm-out
Block Energy plc and its partners have agreed a farm-out to an as yet unnamed “leading E&P company” for licence XIQ, containing the Martkopi Terrace prospect, held within its Georgia portfolio. CONFIDENCE The transaction remains subject to regulatory approval, expected between the final quarter of 2025 and the first quarter of 2026. XIQ is currently […]