Block Energy PLC (LON:BLOE) has begun preparations to drill a second well at its promising West Rustavi field in Georgia.
Well 38Z, which is one of four wells to be sidetracked across the wholly-owned oilfield, is nearby and has very similar characteristics to well 16aZ, which produced at an average rate of approximately 360 barrels of oil equivalent per day when it began testing last month.
WATCH: Non-exec Chris Brown explains Block Energy's upcoming exploration at West Rustavi
With both wells targeting the same geologic formation, Block will be able to draw on the experience gathered from the drilling of well 16aZ to optimise the completion design for this new well.
Block last month took full control of West Rustavi, which has an estimated 900,000 barrels of 2P oil reserves and 38mln barrels of resources (2C).