Block Energy plc provided an update on the well test of WR-34Z. WR-34Z has now been in continuous production for over 19 days on a range of choke settings from 7.1mm to 12.7 mm, producing at an average rate of 223 boepd (153 bopd & 11,900 m3/d gas). The well has now been handed over to the production team, on a 10.3mm choke size, with production at a five-day average rate of 150 boepd with all produced hydrocarbons being monetised.

Total group production as of the 25th September was 684 boepd. In 2022, ERCE completed an independent reserves report on a portion of the West Rustavi/Krtsanisi field and assigned gross 3P reserves of 3.01 MMstb oil & 2.14 BSCF gas with an associated NPV 10 of USD 57 MM. The first of the Company's Project I development wells, JKT-01Z commenced production in January 2022 and continues to perform better that the mid case from the ERCE reserve report.

WR-B01Za was brought onto stabilised production in March 2023 and continues to perform above the high case from the ERCE reserve Report. Well WR-34Z was drilled within the area covered by the ERCE reserves report and its success validates both the conclusions of this evaluation and the Company's internal contingent resource report ascribing 2C contingent resources of 19.5 MMstb within the wider field.