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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 discoveries have already been made in the Lower Eocence and Upper Cretaceous within the licence.

Quick facts: Block Energy PLC

Price: 5.25 GBX

Market: AIM
Market Cap: £20.66 m

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Block Energy begins trading on AIM amid plans to enhance production

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...

on 11/6/18


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