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Block Energy increases stake in ‘highly prospective’ West Rustavi licence

Paul Haywood, director of Block Energy Plc (LON:BLOE), tells Proactive Investors they've acquired an additional 20% interest in the ‘highly prospective’ West Rustavi licence in Georgia - taking their stake to 25%.

Haywood says the West Rustavi licence has proven reserves and multiple gas discoveries have already been made in the Lower Eocence and Upper Cretaceous within the licence.

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Price: 2.46 GBX

AIM:BLOE
Market: AIM
Market Cap: £10.72 m
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Block Energy CEO talks 'transformational' Schlumberger deal and progress...

Block Energy's (LON:BLOE) Paul Haywood discusses with Proactive London the measures they've introduced including steps taken for cash preservation to see them through the coronavirus crisis. He updates on their recent acquisition of new acreage in Georgia - picking up two areas held by...

on 26/5/20

2 min read