Block Energy PLC Board Change (1169L)
September 08 2021 - 4:09AM
UK Regulatory
TIDMBLOE
RNS Number : 1169L
Block Energy PLC
08 September 2021
8 September 2021
Block Energy plc
("Block" or the "Company")
Board Change
Block Energy plc, the development and production company focused
on Georgia, is pleased to announce that, further to the
notification of 6 September 2021, regulatory due diligence checks
on Dr Kenneth "Ken" Seymour by the Nominated Adviser are complete
and he has joined the Board with effect from 7 September 2021.
Commenting, Philip Dimmock, Chairman of Block Energy, said:
" As previously announced, in a number of jurisdictions, Ken has
had a distinguished career in the management of drilling
operations, asset mananagenent and strategy formulation.
I look forward to his bringing his experience and skills to bear
on the Company's operations in Georgia and the corporate planning
of Block Energy."
**ENDS**
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
For further information please visit
http://www.blockenergy.co.uk/ or contact:
Paul Haywood Block Energy plc Tel: +44 (0)20 3468
(Chief Executive Officer) 9891
Neil Baldwin Spark Advisory Partners Tel: +44 (0)20 3368
(Nominated Adviser) Limited 3554
Peter Krens Tennyson Securities Tel: +44 (0)20 7186
(Corporate Broker) 9030
P hilip Dennis / M ark Celicourt Tel: +44 (0)20 8434
Antelme 2643
(Financial PR)
Notes to editors
Block Energy plc is an AIM-listed independent oil and gas
company focused on production and development in Georgia, applying
innovative technology to realise the full potential of previously
discovered fields.
Block has a 100% working interest in Georgian onshore licence
blocks IX and XI (B) . Licence block XI (B) is Georgia's most
productive block, with 2P oil and gas reserves of 64 MMboe, which
is comprised 2P oil reserves of 36 MMbbls and 2P gas reserves of 28
MMboe (Source: CPR Bayphase Limited: 1 July 2015) and historic
production of over 180 MMbbls of oil from the Middle Eocene,
peaking in the mid-1980s at 67,000 bopd.
The Company has a 100% working interest in the highly
prospective West Rustavi onshore oil and gas field with multiple
wells that have tested oil and gas from a range of geological
horizons. The field has so far produced 50 Mbbls of light sweet
crude and has 0.9 MMbbls of gross 2P oil reserves in the Middle
Eocene. It also has 38 MMbbls of gross unrisked 2C contingent
resources of oil and 608 Bcf of gross unrisked 2C contingent
resources of gas in the Middle, Upper and Lower Eocene formations
(Source: CPR Gustavson Associates: 1 January 2018).
Block also holds 100% and 90% working interests respectively in
the onshore oil producing Norio and Satskhenisi fields.
The Company offers a clear entry point for investors to gain
exposure to Georgia's growing economy and the strong regional
demand for oil and gas.
Glossary
1. bbls: barrels. A barrel is 35 imperial gallons.
2. boe: barrels of oil equivalent.
3. bopd: barrels of oil per day.
4. Mbbls: thousand barrels.
5. MMbbls: million barrels.
6. MMboe: million barrels of oil equivalent.
7. Bcf: billion cubic feet.
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END
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