Block Energy Plc · LSE:BLOE
Block Energy — Investor Presentation (April 2026)
19 slides from Block Energy's investor presentation, April 2026
Slide 1: A growing independent energy company: Georgia to Africa
A growing independent energy company Georgia to Africa Investor Presentation April 2026 7 PSCs in Georgia 2 new PSC Interests in Gabon Project I & II Project III Gabon Existing production, Up to US$75m carry to 75 million bbl cashflow and target 2.77 TCF 2C pMean discovered reserves Contingent Resou
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) is being supplied to you solely for your The Presentation or documents referred to in it contain forward-looking The forward-looking statements contained in the Presentation are based information. The Presentation has been prepared by, and is the sole st
Slide 3: About Block Energy
About Block Energy Operating oil and gas company in Georgia with new venture targets identified • Established AIM-listed operating platform with a fully staffed in-country Georgian operating base and proven delivery capability. • Portfolio spans production, redevelopment, gas appraisal, carried expl
Slide 4: Multi-Project Portfolio Driving Value Creation
Multi-Project Portfolio Driving Value Creation A diversified portfolio of production, redevelopment, carried growth and low-cost entry opportunities across Georgia and Gabon The Company has grouped its existing operations in Georgia, into four projects defined by development stage, hydrocarbon type
Slide 5: Projects I & II; Production base and redevelopment upside
Projects I & II; Production base and redevelopment upside 19.5 MMbbl US$57m 235 MMbbl 180 MMbbl Project I 2C oil Project I 3P NPV Project II 2C Historical production • Block developed field in production providing cash generation and • Patardzeuli-Samgori redevelopment offers material oil upside aro
Slide 6: Project III – Sanning farm-in and value to Block equity
Project III – Sanning farm-in and value to Block equity • Three discovered gas fields and one low-risk exploration prospect beneath Block’s existing Georgian footprint. • Binding framework agreed with Sanning for a staged carry to earn 51% in Project III, with Block retaining operatorship. • Complet
Slide 7: Project III Farm-in Highlights
Project III Farm-in Highlights Binding framework signed with major industrial partner, Sanning Transaction highlights 51% US$75m US$13m US$12m Farm-in interest Staged carry Firm appraisal Contingent facilities • Binding framework signed for farm-in to Project III. Work Programme and Funding Scope •
Slide 8: Sanning; Project III Partner Overview
Sanning; Project III Partner Overview Binding agreement signed with major industrial partner, Sanning Why Sanning matters Industrial partner profile • Zhijiang Sanning Energy is the upstream affiliate of Hubei Sanning Chemical, one of China's leading privately held chemical groups. • 2025 production
Slide 9: Project III – Full Field Development
Project III – Full Field Development Plateau production of 500 MMCF/d (2C case) • Conceptual field development plans in place, integrated with appraisal and early gas planning. • Phased approach to development based upon well test results and updated data collection and modelling. • Onshore nature o
Slide 10: Project IV; Aspect farm-out and value to Block equity
Project IV; Aspect farm-out and value to Block equity • Fully carried exploration programme on XIQ validates the basin and reduces direct capital burden on Block. • Aspect can fund up to c.US$95m across staged work including 3D seismic and preparation to drill. • Firm carry includes 3D seismic with
Slide 11: Aspect Energy Overview
Aspect Energy Overview A technically credible partner with proven exploration, production and monetisation track record. Why Aspect matters to Block Selected markers • U.S.backed upstream company with more than 30 years of exploration success across four continents and multiple commodity cycles. 30+
Slide 12: A New Front; West Africa, Gabon
A New Front; West Africa, Gabon Secured position to enter two proven high-potential PSCs Investment Highlights • Low near-term PSC commitments allow early de-risking before heavier capital is committed. • Transaction offers a ground-floor entry into discovered oil plus wider upside • US$6m secures 7
Slide 13: Gabon: Why Now, Why Ndjila & Mpari
Gabon: Why Now, Why Ndjila & Mpari Two large, contiguous licences offshore Gabon with discovered oil • Mature offshore hydrocarbon jurisdiction, going through a revival. Proven plays, established operators and existing export routes. • Data rich assets (Texaco, Tullow, Shell), with near-full 3D seis
Slide 14: Ndjila and Mpari Discovery and Prospect Inventory
Ndjila and Mpari Discovery and Prospect Inventory Four discovered areas and multiple prospects mapped; Iguega anchor field supported by blue-sky upside in the pre-salt STOIIP (pMean); • Initial programme is a low-risk Field/Prospect Well Test(s) Originator MMbbl rapid G&G programme, desktop based, f
Slide 15: Gabon Deal – Acquisition Value
Gabon Deal – Acquisition Value Ground-floor acquisition supported by tested oil discoveries and low commitments • US$ 6 MM to fund licences (PSC committments, asset start-up, initial work programme). Gain net 76.5% in Ndijila and Mpari PSCs. • High-impact near term work programme with discovered oil
Slide 16: Consolidated Story
Consolidated Story High-impact value creation over 12 – 18 months from carried interests in Georgia and low-risk high-impact acquisition in Gabon Project I & II Project III Project IV CCS Gabon New Geographical Cashflow Strategic Gas Project Exploration Upside New Energies Upside Area Small producti
Slide 17: Milestones and value-add
Milestones and value-add Project Project Project I Project II CCS Gabon III IV 1 2 3 4 5 6 In-house Low-cost Farm-out to Complete Sanning Acquire seismic Build reserves, Advance EBRD production boost industry to unlock farm-in and and progress define entry and move to keep growth redevelopment comme
Slide 18: Use of funds
Use of funds Focused on securing the PSCs and funding a short work programme to deliver farm-out ready assets Gabon Execution focus Secure title, access data, then move quickly into technical de-risking and farm-out preparation. 2x New PSCs Technical work Farm-out US$6.0m 76.5% 12 months & analysis
Slide 19: Summary
Summary Developing into a diversified independent • No longer a small onshore producer. • Project III & IV farm-outs transformational for Company and asset base. • Low-cost opportunity for high-quality licences in Gabon. • Building on existing operating capacity and farm-out success to deliver conti