Block Energy Plc · LSE:BLOE
Block Energy — Investor Presentation (October 2026)
24 slides from Block Energy's investor presentation, October 2026
Slide 1: Partner-funded asset development
CORPORATE PRESENTATION Partner-funded asset development Built on production. Positioned for high-impact growth. From Georgia to Gabon OCTOBER 2026 | AIM: BLOE
Slide 2: Disclaimer
IMPORTANT INFORMATION Disclaimer This presentation (“Presentation”) is being supplied to you solely for your information. The Presentation has been prepared by, and is the sole responsibility of, Block Energy plc (the “Company”, “Block”, or “Block Energy plc”). The directors of the Company have take
Slide 3: Material gas and oil - backed by production and partners
INVESTMENT CASE Material gas and oil - backed by production and partners Block offers investors exposure to material gas resources and discovered oil, underpinned by cash from production, a proven operations team and established partner funding, creating multiple catalysts across assets and geograph
Slide 4: Where we operate
PORTFOLIO OVERVIEW Where we operate Six onshore PSCs in Georgia and two contiguous offshore PSCs in Gabon, supported by Georgian Operating Base. GEORGIA GABON NDJILA (CD2) Iguega anchor discovery with wider appraisal and exploration inventory on- licence MPARI (CD3) Three historical discoveries, pos
Slide 5: Shareholder value
INVESTMENT PROPOSITION Shareholder value Five independent value catalysts - led by Project III and Gabon, supported by funded exploration, CCS and production. PROJECT III GABON Strategic Georgian gas Discovered oil + exploration 2.77 TCF 2C contingent resources → up to US$ 75 MM appraisal Technical
Slide 6: Partner-funded asset development
STRATEGY Partner-funded asset development Identify the opportunity, establish its value and attract the right partner to fund the next phase. 01 02 03 04 05 Identify Mature Partner Execute Retain upside Secure assets, where Define the resource, Bring in industry Deliver through the Preserve meaningf
Slide 7: Turning Partnerships into Asset Delivery
STRATEGY IN ACTION Turning Partnerships into Asset Delivery 2026 has seen a completed exploration farm-out, an agreed appraisal farm-out and continued progress on CCS. ASPECT ENERGY (PROJECT IV XIQ) SANNING (PROJECT III) INDORAMA Up to c.US$95m Up to US$75m Industrial partner Staged carried gross pr
Slide 8: Project III - retained operatorship and a staged carry
GEORGIA GAS Project III - retained operatorship and a staged carry Binding Framework Agreement executed; final transaction documents under negotiation. US$13m US$12m US$50m 2.77 Tcf Initial appraisal Conditional early facilities Optional further programmes Gross 2C contingent gas resources (Block En
Slide 9: A phased route from early gas to full field development
PROJECT III • DEVELOPMENT SCALE A phased route from early gas to full field development Agreed appraisal programme focused on Patardzueli-Samgori followed by a phased early gas programme leading to full field development 20 MMcf/d up to 500 MMcf/d US$2.2bn Initial early-gas target (2C) Conceptual 2C
Slide 10: Gabon - discovered oil in an established offshore province
GABON Gabon - discovered oil in an established offshore province Ndjila and Mpari combine historical discoveries, extensive data and wider post-salt / pre-salt exploration potential. NDJILA Iguega anchor discovery + exploration upside MPARI Three historical discoveries + exploration 76.5% 5,331 km²
Slide 11: Ndjila and Mpari discoveries & upside
GABON • TECHNICAL PROGRAMME Ndjila and Mpari discoveries & upside The work programme converts existing data into development programmes with exploration upside 01 INTEGRATE Subsurface interpretation and data integration. 02 REFINE IGUEGA Development concept updates. 03 OTHER DISCOVERIES Evaluation o
Slide 12: A discovery-led route to development
GABON • NDJILA - IGUEGA A discovery-led route to development Historical well tests on the field concluded by Shell in the late 1990s – early 2000s. 3,300 bopd 23 MMbbl 4 discoveries Historical discovery well Shell development concept (Iguega) Iguega anchors the wider test rate (Iguega) Ndjila & Mpar
Slide 13: Iguega conceptual development case
GABON • MANAGEMENT CASES Iguega conceptual development case Ongoing technical work to refine volumetrics, production programme and development concept in advance of asset-level finance Illustrative Iguega production profile Resource Iguega – Conceptual Development Case 20,000 18,000 Report 16,000 14
Slide 14: Project IV (XIQ) - the strategy delivered in the field
CARRIED EXPLORATION Project IV (XIQ) - the strategy delivered in the field The farm-out and completed 3D seismic acquisition now lead into interpretation and drilling decisions. 301.7 Up to c.US$95m MMboe gross mean Staged carried gross unrisked prospective work programme Resources (DeGoyler MacNaug
Slide 15: CCS - an industrial partnership with Indorama
CARBON CAPTURE AND STORAGE CCS - an industrial partnership with Indorama A global chemicals and fertiliser group provides the industrial counterpart to Block’s storage opportunity. 151.5 Mt Pilot Injection Indorama Mid-case screening Injection completed 2025; Global industrials group storage estimat
Slide 16: Project I & II - production foundation and redevelopment option
GEORGIA OIL Project I & II - production foundation and redevelopment option Existing production and operating base supports additional investment in field development PROJECT I / PRODUCTION • WEST RUSTAVI / KRTSANISI PROJECT II • SAMGORI–PATARDZUELI (MIDDLE EOCENE) 19.5 MMbbl US$57m 235 MMbbl Gross
Slide 17: Built through execution
OPERATING CAPABILITY Built through execution From Georgian entry to an international portfolio and asset-level partnerships. 2017–18 2019 2020 2021–24 2025 2026 Georgia entry XIF Acquisition, 3D IX / XIB acquisition Gas sales, drilling, Slim-hole XIQ delivery; and AIM listing seismic and facilities
Slide 18: Licences connected to established regional infrastructure
GEORGIA INFRASTRUCTURE Licences connected to established regional infrastructure Core licences alongside major oil and gas corridors. EXCELLENT OPERATING ENVIRONMENT OPTIMAL LOCATION • Excellent road, rail, air and sea access • Proximity to Tbilisi and Rustavi industrial gas demand • Multiple oil an
Slide 19: Board experience across operations, transactions and capital
LEADERSHIP Board experience across operations, transactions and capital Concise leadership focused on the capabilities relevant to Block. Paul Haywood Philip Dimmock Jeremy Asher Founder & CEO Non-Executive Non-Executive Director Chairman Founded Block; 20+ years building, Former senior BP executive
Slide 20: Technical depth and execution capability
MANAGEMENT Technical depth and execution capability A multidisciplinary team supports evaluation, partner execution and safe operations. Guram Maisuradze Chris Brown Stefano Delfino Chief Operating Officer Technical Director Finance Director 20+ years in drilling, engineering and field 45+ years ups
Slide 21: Multiple assets across jurisdictions and geologies
MARKET CONTEXT Multiple assets across jurisdictions and geologies Selected AIM energy comparables • Market capitalisation at the 16 October 2026 close. What differentiates Equity market capitalisation (£m) Block’s proposition Block 11.0 An established operations team Europa 22.4 Oil, gas and CCS exp
Slide 22: Material project potential
VALUE PROPOSITION Material project potential The opportunity is to convert resource scale into funded, attributable and increasingly de-risked cash flows. c.£11m US$2.2bn 49% 18.6 kbopd Reference equity market cap Published gross Project III Retained Project III interest Illustrative Iguega peak pro
Slide 23: The two principal near-term re-rating routes
PRINCIPAL CATALYSTS The two principal near-term re-rating routes Project III and Gabon have potential value at multiples of the current market capitalisation, supported by existing production. PROJECT III GABON From framework agreement to appraisal and early Four discoveries in a proven petroleum ba
Slide 24: Built on production. Positioned for partner-funded growth.
WHY BLOCK ENERGY Built on production. Positioned for partner-funded growth. An established operator People, infrastructure and a field-delivery team. A material portfolio Production, appraisal, development, exploration & CCS. A partner-funded model Technical work translated into third-party capital.