Business
Posting of Circular & Notice of General Meeting
Posting of Circular & Notice of General Meeting.
About this update from Block Energy Plc
RNS Number : 8181H Block Energy PLC 07 December 2020 7 December 2020 Block Energy plc ("Block Energy", "Block" or the "Company") Posting of Circular & Notice of General Meeting Further to the announcement of 3 December 2020, Block Energy plc (AIM: BLOE), the production company focused on Georgia, confirms that a C ircular containing the Notice of General Meeting has been posted to Shareholders. A copy of the Circular and Notice of General Meeting are available on the Company's website: www.blockenergy.co.uk. Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement released on 3 December 2020 unless the context requires otherwise. 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) Mirabaud Securities Limited Tel: +44 (0)20 3167 7221 Billy Clegg / Owen Roberts / Violet Wilson (Financial PR) Camarco Tel: +44 (0)20 3757 4980 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 XIB. Licence block XIB is Georgia's most productive block, with 2P oil and gas reserves of 64 million boe 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 intere...