4 June 2026
Block Energy plc
("Block" or the "Company")
Posting of Annual Report and Notice of AGM
Block Energy plc, the international oil and gas company with assets in Georgia and interests in offshore Gabon, confirms that it has today posted to shareholders the Annual Report for the year ended 31 December 2025 and notice of the Company's annual general meeting ("AGM").
The AGM will held at 11.00am on Tuesday 30th June 2026 at 33 Cavendish Square, London, W1G 0PW.
Copies of the Annual Report and AGM Notice are available on http://www.blockenergy.co.uk/
**ENDS**
For further information please visit http://www.blockenergy.co.uk/ or contact:
|
Paul Haywood (Chief Executive Officer) |
Block Energy plc |
Tel: +44 (0)20 3468 9891 |
|
Neil Baldwin (Nominated Adviser) |
Spark Advisory Partners Limited |
Tel: +44 (0)20 3368 3554 |
|
Peter Krens (Corporate Broker) |
Tennyson Securities |
Tel: +44 (0)20 7186 9030 |
|
Mark Antelme Philip Dennis (Financial PR Adviser) |
Celicourt Communications |
Tel: +44 (0)20 7770 6424 |
Notes to Editors
Block Energy plc is an AIM-quoted independent international oil and gas company with production, development, appraisal and exploration assets in Georgia and a post year-end offshore Gabon growth platform.
In Georgia, the Company holds interests in seven Production Sharing Contracts covering an area of 4,256 km² in the central part of the country. These include the XIB and XIF licences, which host Project III's 2.77 TCF of 2C gross contingent gas resources in the Patardzueli-Samgori, Rustavi and Teleti fields, together with 574 BCF of 2U gross prospective resources at South Dome. Project III has an estimated NPV10 of approximately US$2.2 billion (Source: IER, OPC 2024 and internal estimates).
The Company is structured around a multi-project approach, progressing assets across different stages of development, hydrocarbon type and reservoir characteristics. This approach is designed to deliver a balanced portfolio of production growth, field redevelopment, new discoveries and the commercialisation of substantial gas resources, supported where appropriate by partner funding, carried work programmes and cash from existing producing assets.
Located near the Georgian capital of Tbilisi, Block Energy is well-positioned to contribute to the region's energy landscape. This proximity facilitates operations and underpins the Company's commitment to the economic and energy development of Georgia.
In April 2026, the Company announced a strategic entry into offshore Gabon through a secured convertible loan to Pilgrim Exploration Limited, providing Block with a 76.5% indirect economic interest in the Ndjila (CD2) and Mpari (CD3) PSCs. The two licences cover 5,331 km² and contain four historical oil discoveries - Iguega, Topaz, Ekouata and Pilote - together with material pre- and post-salt exploration potential in an established Gulf of Guinea hydrocarbon fairway.