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Block Energy 'days away' from start of major horizontal side-track at West Rustavi

Paul Haywood, director of Block Energy Plc (LON:BLOE), updates Proactive London's Andrew Scott on the sidetrack operations at the West Rustavi field, in the existing 16a wellbore.

It's the first of an initial two well programme there as Block aims to increase production up to 650 barrels of oil per day by the end of the first half.

The drilling follows a successful oil test in December which confirmed it is in an active hydrocarbon system, and, the previously producing reservoir retains reserves and is still pressurised.

Haywood describes the sidetrack as a “high impact well” for the company.

Quick facts: Block Energy PLC

Price: 2.5 GBX

Market: AIM
Market Cap: £10.94 m

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on 26/5/20

2 min read