viewBlock Energy PLC

Block Energy prepares for next West Rustavi sidetrack well

It will be the second sidetrack in a potential programme of five wells.

Block Energy PLC - Block Energy prepares for next West Rustavi sidetrack well

Block Energy PLC (LON:BLOE) told investors that the ZJ40 drilling rig is now being mobilised to the 38Z well site at its flagship West Rustavi field.

The rig will deliver the planned horizontal sidetrack operations at the 38Z well.

Block noted that the mobilisation of the ZJ40 rig triggers the 12 month term under an equipment agreement with JSC Norio Oil Company and Georgia Oil and Gas.

Sidetracking 38Z represents the start of Block’s next phase of operations in a £12mln programme to boost West Rustavi – presently estimated to host some 38mln barrels of contingent oil resources and 608bn cubic feet of of gas.

The 38Z well is described as being analogous to the adjacent 16aZ well which saw a recent production restart in July. A further three horizontal sidetracks are planned for other wells at West Rustavi.

Quick facts: Block Energy PLC

Price: 5.19 GBX

Market: AIM
Market Cap: £20.42 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Block Energy PLC named herein, including the promotion by the Company of Block Energy PLC in any Content on the Site, the Company receives from...



Investor Update: SIMEC Atlantis chosen for demo project in Japan

Headlines from the Proactive UK newsroom. SIMEC Atlantis Energy (LON:SAE) has been chosen to supply tidal generation equipment and offshore construction services for a demonstration project in Japan. The project is located in the straits of Naru Island.  Block Energy (LON:BLOE) has...

2 weeks, 6 days ago


Holding(s) in Company

2 weeks, 5 days ago

Result of AGM and Board Change

2 weeks, 6 days ago

AGM Presentation

2 weeks, 6 days ago

Operations Update

2 weeks, 6 days ago

Gas Sales Agreement

3 weeks ago

Grant of Options

on 21/10/19

Operations Update

on 21/10/19

2 min read