Block Energy PLC (LON:BLOE) has raised its stake in the West Rustavi field in Georgia to 100% from 71.5%.
The Aim-listed company paid Georgia Oil and Gas US$750,000 in cash and shares for the additional interest in a deal that was flagged in February.
West Rustavi has an estimated 900,000 barrels of 2P oil reserves and 38mln barrels of resources (2C).