Block Energy PLC (AIM:BLOE, FRA:BE9) updated investors on the WR-B1 well in Georgia, saying drilling operations continue on target and as planned.
The company said it has begun drilling the horizontal section of the well and expects to reach target depth in August.
“Reaching the second casing point represents a significant milestone in the successful delivery of this well,” said chief executive Paul Haywood. “The team on the ground has undertaken the drilling operations safely and efficiency and we can now look forward to commencing the horizontal section of the well to the target depth."
Block describes the WR-B1 as potentially transformational. It is targeting some 2.1mln barrels of recoverable oil and gas and its envisaged that, if successful, the well will be tied into the company’s early production facility.