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Block Energy PLC

Preparation Begins at West Rustavi Well 38Z

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RNS Number : 3178I
Block Energy PLC
08 August 2019
 

Block Energy Plc | Index: AIM | Epic: BLOE.L | Sector: Oil and Gas

Preparation for Horizontal Sidetrack Begins at West Rustavi Well 38Z

8 August 2019

Block Energy Plc ('the Company' or 'Block'), the exploration and production company focused on the Republic of Georgia, is pleased to announce the mobilisation of an A50 service rig to the site of well 38Z at its flagship West Rustavi field ('the Field') in preparation for planned horizontal sidetrack operations.

Well 38Z is one of four wells scheduled to be sidetracked across the Field, in which Block now holds a 100% working interest. Well 38Z is analogous, adjacent and updip to well 16aZ, where Block resumed production last month (https://bit.ly/2SRUO2l). Both wells target the same Middle Eocene formation. The Company will draw on the valuable experience gathered from the drilling of well 16aZ to optimise the completion design for well 38Z.  

The Company is also preparing a set of Frequently Asked Questions ('FAQs') for publication on its website to provide stakeholders with ready answers to common enquiries. The Company will announce this update through the RNS Reach service.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

**ENDS**

Further information

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

Paul Haywood

(Chief Executive Officer)

Block Energy Plc

Tel: +44 (0)20 7997 6136

 

Neil Baldwin

(Nominated Adviser)

Spark Advisory Partners Limited

Tel: +44 (0)20 3368 3554

Peter Krens

(Corporate Broker)

Mirabaud Securities Limited

Tel: +44 (0)20 3167 7221

Frank Buhagiar/Juliet Earl

(Financial PR)

St Brides Partners Ltd

Tel: +44 (0)20 7236 1177

Notes

1.   Well 16aZ has been referred to as well 16a in previous updates. The Company is now referring to the well as 16aZ to reflect the addition of the horizontal sidetrack to the vertical well.

2.   Block Energy is using the suffix Z in a well number to indicate a horizontal sidetrack.

3.   RNS Reach is an investor communication service designed to assist listed and unlisted - including AIM quoted - companies to publish non-regulatory news releases such as marketing messages, corporate and product information to the public domain.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Block Energy increases stake in ‘highly prospective’ West Rustavi licence

Paul Haywood, director of Block Energy Plc (LON:BLOE), tells Proactive Investors they've acquired an additional 20% interest in the ‘highly prospective’ West Rustavi licence in Georgia - taking their stake to 25%. Haywood says the West Rustavi licence has proven reserves and multiple gas...

on 29/6/18