Block Energy Plc

Block Energy Plc is an independent oil and gas production and development company focused on fields in Georgia. The Company’s projects include Blocks XI B & IX, West Rustavi, Norio, and Satskhenisi. The Company is engaged in the evaluation and development of natural gas resources throughout the Eocene in Blocks XIF and XIB. Block XIB (about 615 square kilometers) is a productive block, with over 180 million bbls of oil produced from the Middle Eocene. Exploration Block IX has about 38 wells with two drilled wells with oil and gas shows. West Rustavi onshore oil and gas field covers approximately 36.5 square kilometers (km2) with multiple wells. Norio onshore oil field is located approximately 35 kilometers (km) from the center of Tbilisi. Satskhenisi onshore oil field produces from the Maikop and shallow Sarmatian lithologies. The Company's segments include Oil Extraction and Corporate and other. The Company has an operations subsidiary in Georgia, Block Operating Company LLC (BOC).