TIDMBLOE

RNS Number : 0212A

Block Energy PLC

23 May 2019

Block Energy Plc

(the "Company")

23 May 2019

Exercise of Options

Block Energy Plc announces that it has today allotted 1,723,650 new ordinary shares of 0.25 pence each in the Company ("Ordinary Shares") pursuant to the exercise of options by a former director. Application has been made for the admission to trading on AIM ("Admission") for the new Ordinary Shares. The options exercised had an exercise price of 4 pence, and amount in aggregate to GBP68,946. The new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of the Company. Admission of the new Ordinary Shares is expected on or around 30 May 2019.

Following Admission, the Company's issued share capital will comprise 320,674,868 Ordinary Shares which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

For more information, contact:

 
Paul Haywood                Block Energy Plc             Tel: +44 (0) 203 053 
 (Chief Executive Officer)                                3631 
Neil Baldwin                Spark Advisory Partners      Tel: +44 (0) 203 368 
 (Nominated Adviser)         Limited                      3554 
Peter Krens                 Mirabaud Securities Limited  Tel: +44 (0) 203 167 
 (Broker)                                                 7221 
Frank Buhagiar/Juliet Earl  St Brides Partners Ltd       Tel: +44 (0) 207 236 
 (Financial PR)                                           1177

NOTES TO EDITORS

About Block Energy

Block Energy (BLOE.L) is an AIM quoted oil and gas company with a growing portfolio of production, development and exploration assets in the Republic of Georgia. Block holds a 100% WI in the producing Norio licence, a 90% WI in the producing Satskhenisi licence and a 71.5% WI in the West Rustavi licence, with an agreement to take a 100% WI.

For more information see www.blockenergy.co.uk

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END

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