Block Energy plc said it issued 12 million shares to Jindal Petroleum (Georgia) Ltd which once owned licence X1B in West Rustavi, Georgia. TRANSACTION In 2020, Block Energy granted 120m nil-cost options to SLB (formerly Schlumberger) for the acquisition of Schlumberger Rustaveli Company Ltd (SRCL), which held XIB in Georgia. As part of the transaction, […]
Tag: Schlumberger Rustaveli Company Ltd (SRCL)
Block welcomes SLB’s rights waiver over 108m shares
Block Energy plc said that SLB (formerly Schlumberger) had decided not to exercise its right to acquire 108 million ordinary shares in the company. ACQUISTION In 2020, Block granted 120 million options as consideration for the acquisition of the Schlumberger Rustaveli Company Ltd (SRCL), which held Georgia’s most productive licence, Block XIB. Of these, SLB assigned to Jindal Petroleum […]
Block nears Schlumberger Rustaveli acquisition
Block Energy plc said it had made some amendments to the sale and purchase agreement of Schlumberger Rustaveli Company Ltd (SRCL) in Georgia. TERMS The company’s agreement with Schlumberger to acquire its subsidiary SRCL, covering Blocks XIB and IX, had been delayed due to Covid-19. Completion will be next Monday (23 November) and subject to Block […]