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Block Energy begins trading on AIM amid plans to enhance production

Block Energy

Block Energy Plc's (LON:BLOE) Paul Haywood tells Proactive that the company holds three licenses in the country of Georgia, an area that is starting to appear on the radar of several oil majors.

Haywood adds that the firm, whose shares have just begun trading on AIM, is currently producing around 20 barrels of oil per day of light crude, with an immediate plan to enhance existing production through a work programme expected to start within the next few months.

Quick facts: Block Energy PLC

Price: 5.199 GBX

AIM:BLOE
Market: AIM
Market Cap: £20.46 m
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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...

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