REG - Block Energy PLC - Annual Financial Report

Block EnergyAnnouncement

28/05/2024 07:00

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RNS Number : 9566P  Block Energy PLC  28 May 2024

28 May 2024

Block Energy Plc

("Block" or the "Company")

Posting of Annual Report and Notice of AGM

Block Energy plc, the development and production company focused on Georgia,
confirms that it has today sent to shareholders the Annual Report for the year
ended 31 December 2023 and notice of meeting for the Company's annual general
meeting ("AGM").

The AGM will held at 11.00am on 20 June 2024 at 33 Cavendish Square, London,
W1G 0PW.

A copy of the Annual Report and AGM Notice is available
on http://www.blockenergy.co.uk/ (http://www.blockenergy.co.uk/)

 

**ENDS**

For further information please visit http://www.blockenergy.co.uk/
(http://www.blockenergy.co.uk/)  or contact:

 Paul Haywood                                   Block Energy plc                 Tel: +44 (0)20 3468 9891

 (Chief Executive Officer)
 Neil Baldwin                                   Spark Advisory Partners Limited  Tel: +44 (0)20 3368 3554

 (Nominated Adviser)
 Peter Krens                                    Tennyson Securities              Tel: +44 (0)20 7186 9030

 (Corporate Broker)
 Philip Dennis / Mark Antelme / Ali AlQahtani   Celicourt Communications         Tel: +44 (0)20 7770 6424

 (Financial PR)

 

Notes to editors

Block Energy plc is an AIM quoted independent oil and gas production and
development company with a strategic focus on unlocking the energy potential
of Georgia. With interests in seven Production Sharing Contracts in central
Georgia, covering an area of 4,256 km(2), including the XIB licence which has
over 2.77TCF of 2C contingent gas resources, with an estimated Net Present
Value (10) ("NPV") of USD 1.65 billion, in the Patardzueli-Samgori, Rustavi
and Teleti fields. (Source: IER, OPC 2024 & Internal estimates).

The Company has structured its operations around a four-project strategy.
These projects, characterized by development stage, hydrocarbon type, and
reservoir, are pursued concurrently to achieve multiple objectives. This
includes increasing existing production, redeveloping fields, discovering new
oil and gas deposits, and capitalizing on the substantial, yet untapped, gas
resource across its licences. The goal is to deliver on multi TCF gas assets,
strategically well located for the key EU market, supported by partner funding
and cash from existing producing assets.

Located near the Georgian capital of Tbilisi, Block Energy is well-positioned
to contribute significantly to the region's energy landscape. This proximity
facilitates seamless operations and underscores our commitment to the economic
and energy development of Georgia.

 

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