Block Energy Plc · LSE:BLOE
Block Energy — Investor Presentation (March 2024)
21 slides from Block Energy's investor presentation, March 2024
Slide 1: Delivering on Georgia's energy potential
Delivering on Georgia’s energy potential Corporate Presentation March 2024
Slide 2: Disclaimer
Disclaimer This presentation (“Presentation”) is being supplied to you solely for your information. The Presentation has been prepared by, and is the sole responsibility of, Block Energy plc (the “Company”, “Block”, or “Block Energy plc”). The directors of the Company have taken all reasonable care
Slide 3: A multi-phased opportunity in a proven hydrocarbon region
A multi-phased Already Georgia’s largest independent oil and gas company, Block Energy is working to unlock a multi-TCF gas resource spanning the company’s licences opportunity in a proven hydrocarbon region Established presence in Georgia The opportunity Current status • Georgia’s largest independe
Slide 4: Delivering a gas resource of strategic importance to Georgia
Delivering a gas resource of strategic importance to Georgia We are advancing four concurrent projects designed to monetise low-cost, low-risk developments across our assets to reinvest in delivering a multi-TCF gas resource declared a strategic asset by the Georgian state Disciplined capital alloca
Slide 5: Project I: West Rustavi/Krtsanisi oil development
Project I: West Rustavi/Krtsanisi oil development Developing the Middle Eocene reservoir defined by the intersection of licences XIF and XIB Self-developed by Block Supports wider objectives All operations since 2019 - including sales Production used to support development infrastructure, 3D seismic
Slide 6: Project I: Reservoir development led by advanced seismic
Project I: Reservoir development led by advanced seismic Advanced seismic techniques including attribute analysis, ant-tracking and AI fracture mapping continues to open up highly fractured regions for ongoing drilling campaign Informed by new subsurface work 3D seismic surveys complete Significant
Slide 7: Project II: Patardzeuli-Samgori oil re-development
Project II: Patardzeuli-Samgori oil re-development Focused on the re-development of the Middle Eocene reservoir of the Patardzueli and Samgori fields with historic production of more than 180 MMbbl and a large legacy well stock proximate to established infrastructure Opportunities for low-cost drill
Slide 8: Project III: Lower Eocene and deeper gas monetisation
Project III: Lower Eocene and deeper gas monetisation Focused on the significant undeveloped gas resource located in the Lower Eocene and Upper Cretaceous reservoirs within Blocks XIB and XIF A strategic resource for Georgia Proven gas through previous drilling Declared a strategically significant g
Slide 9: Project III: A phased strategy opening a path to commercialisation
Project III: A phased strategy opening a path to commercialisation Initial work leading with a high impact appraisal campaign will focus on confirming reservoir deliverability, building on work completed by Schlumberger from 2016 - 2020 Re-test legacy wells Leading-edge technology Re-test legacy ver
Slide 10: Project IV: Exploration potential across portfolio
Project IV: Exploration potential across portfolio Ongoing exploration of the extensive potential across our portfolio - focused on similar structures to the Patardzueli and Samgori fields - targeting Middle Eocene and several other proven reservoirs, including the Upper Eocene, Chokrak, Maikop and
Slide 11: Major Carbon Capture and Storage (CCS) opportunity
Major Carbon Capture and Storage (CCS) opportunity Potential for a significant CO2 sequestration and storage Mineralisation Low (MT CO2) Mid (MT CO2) HIgh (MT CO2) project identified within the Patardzueli and Samgori Capacity Middle Eocene reservoirs offering opportunity for a net- Patardzeuli CO2
Slide 12: Commercialisation: meeting energy demand in Georgia and beyond
Commercialisation: meeting energy demand in Georgia and beyond Block has operated in Georgia since 2017: a business - friendly jurisdiction with a supportive government Stable oil & gas sales contracts Pressing local demand for oil & gas Oil and gas sales - currently to local Georgia is heavily depe
Slide 13: Georgia: a stable business-friendly operating environment
Georgia: a stable business-friendly operating environment Located at the cross-roads of Europe, Asia and the Middle East, Georgia is a stable political regime with a liberal, trade-oriented economy bound into the global market through membership of international organisations Linked to international
Slide 14: Board & Senior Management: Directors
Board & Senior Paul Haywood – Chief Executive Officer Paul is the founder of Block Energy and has more than 12 years' experience in the Georgian oil and gas Management: sector, having identified, managed and completed the acquisition, development and sale of multiple oil and gas assets before establ
Slide 15: Board & Senior Management: Senior Managers
Board & Senior Guram Maisuradze– Chief Operating Officer Guram has served the company for five years, appointed as Chief Operating Officer in recognition of his Management: outstanding record as Operations Manager, where, supported by the broader team in Georgia, he guided the successful planning an
Slide 16: Governance driven by HSES and corporate best practice
Governance driven by HSES and corporate best practice All our operational decisions are driven by HSES and we observe the highest standards of governance in accordance with the QCA Corporate Governance Code No serious Loss Time Incidents Mature governance structure Review of HSES management is alway
Slide 17: Sustainability: commitment to low-carbon operations
Sustainability: commitment to low-carbon operations Carbon capture & storage opportunity Carbon Capture and Storage opportunity No flaring or venting of gas Commercialisation of gas associated with Environmental monitoring Zero waste liquid discharge and CO2 identified within Block XIB with the oper
Slide 18: Appendix: Block Energy Reserves & Resources
Field/Project Type Units Reserves/Resources Source Appendix Reserves Oil MMbbl 1P (Gross) 0.19 2P (Gross) 1.07 3P (Gross) 3.01 Mean - Block Energy Krtsanisi Anticline ERCE, 2022 (5 well (Project I) programme) Gas BCF 0.34 1.07 2.14 - Reserves & Contingent Resources 1C (Gross) 2C (Gross) 3C (Gross) M
Slide 19: Appendix: Block Energy assets
Appendix Licence Area (km2) Field(s) Associated Projects Block Energy assets Krtsanisi, Teleti, Project I, Project II, Project XIB 363.7 Patardzeuli, Samgori, III, CCS Rustavi XIF 37.8 West Rustavi Project I, Project III IX 3,726.3 - Project IV Martkopi Terrace Didi Lilo 103.1 Project IV (Prospect)
Slide 20: Appendix: Key Data
Appendix As of March 4th 2024 Key Data Market AIM Listing Date 11th June 2018 52 Week Share Price (Yahoo Finance) Sector Oil & Gas 2.5 20,000,000 Ticker BLOE 18,000,000 2 16,000,000 Total Ordinary Shares in Issue 724,675,812 14,000,000 Daily Volume Price (GBX) 1.5 12,000,000 Total Warrants in Issue
Slide 21: Further information
Further information § Full details of all our projects at www.blockenergy.co.uk § Follow us at @BlockEnergyplc § Contact us at [email protected]