Posting of Notice of AGM

RNS Number : 0623P

Block Energy PLC

08 October 2019

 

8 October 2019

Block Energy Plc

("Block" or the "Company")

Posting of Notice of AGM

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, is pleased to announce that its Notice of Annual General Meeting was posted to shareholders yesterday.  In addition, the Notice of Annual General Meeting and Form of Proxy documents are available on the Company's website at www.blockenergy.co.uk.

The Annual General Meeting will be held at 10:00 on Thursday 31 October 2019 at the offices of Shakespeare Martineau LLP, 6th Floor, 60 Gracechurch Street, London, EC3V 0HR.

For further information please visit http://www.blockenergy.co.uk/ or contact:

Paul Haywood (Chief Executive Officer)	Block Energy Plc	Tel: [phone]
Neil Baldwin (Nominated Adviser)	Spark Advisory Partners Limited	Tel: [phone]
Peter Krens (Corporate Broker)	Mirabaud Securities Limited	Tel: [phone]
Billy Clegg / Owen Roberts / Violet Wilson (Financial PR)	Camarco	Tel: [phone]

Notes to Editors

Block Energy is an AIM-listed independent oil and gas company focused on production and development in the Republic of Georgia, applying innovative, modern technology to realise the full potential of previously discovered fields. The Company is pursuing a fully-funded multi-well programme through 2019/20 designed to convert contingent resources to reserves, and reserves to revenue.

The Company has a 100% working interest in the highly prospective West Rustavi onshore oil and gas field with multiple wells that have tested oil and gas from a range of geological horizons. The Field has so far produced 50 Mbbls of light sweet crude, and has 0.9 MMbbls of gross 2P oil reserves in the Middle Eocene. It also has 38 MMBbls of gross 2C contingent resources of oil and 608 BCF of gross unrisked 2C contingent resources of gas in the Middle, Upper and Lower Eocene formations (Source: CPR by Gustavson Associates: 1 January 2018).

Block also holds 100% and 90% working interests in the onshore oil producing Norio and Satskhenisi fields.

The Company offers a clear entry point for investors to gain exposure to Georgia's under-developed opportunities and strong regional demand for oil and gas.

 

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