Posting of Notice of General Meeting

RNS Number : 3624G

Block Energy PLC

26 July 2021

 

26 July 2021

Block Energy plc

("Block" or the "Company")

Posting of Notice of General Meeting

Further to the announcement on 5 July 2021 about the request for the Company to convene a general meeting of its shareholders, Block Energy plc, the development and production company focused on Georgia, announces that the Notice of a General Meeting and Form of Proxy were posted to shareholders on 23 July 2021 and are available in the Investors section of the Company's website at  www.blockenergy.co.uk/investors/circulars-presentations-and-reports/.

The general meeting will be held at 10:00 a.m. on 11 August 2021 at Landmark Office Space, 33 Cavendish Square, London W1G 0PW.

The result of the general meeting will be announced after its conclusion and published on the Company's website.

**ENDS**

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)	Tennyson Securities	Tel: [phone]
Mark Antelme Philip Dennis (Financial PR Adviser)	Celicourt Communications	Tel: [phone]

Notes to editors

Block Energy plc is an AIM-listed independent oil and gas company focused on production and development in Georgia, applying innovative technology to realise the full potential of previously discovered fields.

Block has a 100% working interest in Georgian onshore licence blocks IX and XI^B. Licence block XI^B is Georgia's most productive block, with 2P oil and gas reserves of 64 MMboe, which is comprised 2P oil reserves of 36 MMbbls and 2P gas reserves of 28 MMboe (Source: CPR Bayphase Limited: 1 July 2015)and historic production of over 180 MMbbls of oil from the Middle Eocene, peaking in the mid-1980s at 67,000 bopd.

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 unrisked 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 Gustavson Associates: 1 January 2018).

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

The Company offers a clear entry point for investors to gain exposure to Georgia's growing economy and the strong regional demand for oil and gas.

Glossary

1.  bbls: barrels. A barrel is 35 imperial gallons.

2.  boe: barrels of oil equivalent.

3.  bopd: barrels of oil per day.

4.  Mbbls: thousand barrels.

5.  MMbbls: million barrels.

6.  MMboe: million barrels of oil equivalent.

7.  Bcf: billion cubic feet.

 

END

 

 

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