UK's Block Energy up on spudding next Project I development well
26/07/2023 09:01
** Shares of Block Energy BLOE.L up 3.9% at 1.35p after co
says it has spud its next Project I development well, WR-34Z
** WR-34Z forms part of the development of co's 3.01 MMbbl
gross 3P reserves, with present value of $57 mln
** Co says delivery of the development programme is being
undertaken by in-house operating company
** "We have set out an aggressive drilling plan for the
remainder of this year and next," said CEO Paul Haywood, which
if successful will increase drilling rate across Project I
** Stock has risen 24% YTD
(Reporting by Richard Rohan Francis in Bengaluru)
((Richardrohan.francis@thomsonreuters.com))