Block Energy plc said it had made good progress testing well JKT-01Z with initial rates of 344 boepd at the company’s operations in Georgia. OPERATIONS Well JKT-01Z reached total depth at 2,565 metres measured depth as planned in early January 2022 . Production comprised 241 bopd and 17,500 m3 of gas per day. The company recorded no […]
Tag: Block Energy plc
Block starts drilling JKT-01Z well in XIB
Block Energy plc announced it had started drilling JKT-01Z well yesterday, targeting circa eight million barrels of oil-in-place, at its project in Georgia. PROGRAMME Well JKT-01Z is the second well in the company’s current two-well drill programme and lies near the vertical well KRT-39, which has produced c.450 Mbbls of oil over the past 20 […]
Block appoints Jeremy Asher as senior director
Block Energy plc has appointed Jeremy Asher as senior independent director, with immediate effect. Mr Asher was appointed to the board during August this year as non-executive director. He has extensive public listed company experience, including currently being on the board of Tower Resources plc, and having previously served on the boards of Pacific Drilling […]
Block Energy issues share options to PDMRs
Block Energy plc has issued nil-cost options over a total of 2,866,022 ordinary shares of 0.25p each to directors/PDMRs*, employees and consultants as part of cash conservation measures. CASH CONSERVATION The options issued on 3 December were issued in lieu of cash payment for 40% of salaries and consultants’ fees and up to 50% of […]
Block Energy starts gas sales from KRT-39
Block Energy plc announced the start of gas sales from well KRT-39 in Block XIB in West Rustavi, Georgia. WELL KRT-39 The associated gas produced (currently 140,000 scf per day) from KRT-39 was being flared prior to the company’s acquisition of Block XIB. Gas sales began following the installation of two gas separators and the […]
Block produces below average target levels at WR-B1a, West Rustavi
Block Energy plc announced that new well WR-B1a had produced below average target levels over the last eight days in West Rustavi, Georgia. FRACTURED RESERVOIRS Block has to date drilled three horizontal wells in naturally fractured reservoirs and acquired 3D seismic of the West Rustavi field. The company said that following the interim installation of […]