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Block Energy reports first gas sales from West Rustavi field in Georgia
StockMarketWire.com
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Development and production company Block Energy reported its first sale of gas from its West Rustavi field in Georgia.
Production rates from West Rustavi wells WR-38Z and WR-16aZ were currently 790 boepd, representing a substantial increase when compared to the rates achieved before the wells were shut-in during April 2020, the company said.
Production across all of Block's portfolio was currently approximately 940 boepd, resulting in estimated future revenue for the company of approximately US$920,000 per month at current oil and gas prices.
The testing programme at the wells would 'continue into Q2 this year and, on completion, stable production rates will be communicated to the market,' the company said.
At 9:17am: (LON:BLOE) Block Energy Plc Ord Shs Gbp0.0025 share price was 0p at 3.05p
Story provided by StockMarketWire.com
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