Block Energy counts down to first gas sales from West Rustavi
The company is preparing to start gas production and sales before year-end, meanwhile, amid improving oil prices, some US$570,000 of crude inventory has been sold
Company
Block Energy PLC
LON:BLOE
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.
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Block Energy says it is enthusiastically active as it adds key equipment and a new contractor to Georgia operation
The company is set to boost production, with the addition of gas processing, and it is advancing for new development plans
Block Energy reveals change of Technical Director as Roger McMechan moves to non-executive role
in his place, the group has appointed Ritchie Wayland, a former Group Exploration Manager of JKX Oil & Gas PLC as its new Technical Manager
Block Energy says it is prepared and remains strong
“We are confident the market will recognise our inherent value and re-rating potential” Block Energy's chairman said
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Malcy's Blog - Oil price, Premier, Block
Block Energy (AIM:BLOE) Cost cutting at Block means a 40% reduction of cash expenditure, currently they have $3.4m and crude stocks worth $470,000 depending what time it is but it’s not for sale now. The company are shutting-in WR-16aZ and
Block Energy moves to protect business and future production
“With the implementation of the measures announced today, we have made our business significantly more sustainable, as well as conserving our hydrocarbon assets for the future”
Block Energy acquires Schlumberger assets in Georgia without upfront payments
Schlumberger gets options over a 23% stake in Block Energy in return for “Georgia's most productive block”
Block Energy’s latest sidetrack flows 550 boepd in tests, kicks off WR-51Z drilling
“WR-38Z promises to be a pivotal well for Block,” said chief executive Paul Haywood
Block Energy says WR-38Z well is flowing naturally, ready for production testing
“We look forward to updating the market on the results from the multi-rate production test," Paul Haywood said.
Block Energy completes second sidetrack well at West Rustavi in Georgia
WR-38Z is the second in the multi-well programme underway at West Rustavi.
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Block Energy ties up sales agreement for gas in Georgia
“West Rustavi is the site of multiple historic gas discoveries, which we will test in the course of our work programme"
Block Energy takes significant step in West Rustavi well sidetrack
"The successful cementing of WR-38Z's seven inch casing is a significant step in the sidetracking of the well,” said Paul Haywood, Block Energy chief executive.
Block Energy continues to advance well programmes at West Rustavi
“We have a fully funded five well drilling programme in the months ahead, providing our investors multiple, near-term value creating opportunities.”
Block Energy updates on West Rustavi’s multi-well programme
"Encouragingly, the WR-16aZ appraisal well has proved the productivity of the Middle Eocene naturally fractured oil reservoir,” said Paul Haywood, Block chief executive.
Block Energy appoints William McAvock as chief financial officer
“We are delighted William is joining the board to lead our finance team at this critical and exciting time for the company,” said Philip Dimmock, Block chairman.
Block Energy prepares for next West Rustavi sidetrack well
It will be the second sidetrack in a potential programme of five wells.
Block Energy begins preparation for second well at West Rustavi
Block last month took full control of West Rustavi, which has an estimated 900,000 barrels of 2P oil reserves
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