2 stories mentioning BLOE.LUpdated 43d ago
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Block Energy (BLOE.L) raised $6.3 million through share placement and retail offer, according to a Tuesday filing.The London-listed oil and gas company issued 418,701,200 shares under the placing to raise $6.2 million and 4,506,716 shares in its retail offering to raise $67,000.Tennyson was the sole bookrunner for the placing.
Block Energy (BLOE.L) said Tuesday that it has executed a binding framework deal with China-based Zhijiang Sanning Energy Co. for the farm-out of Project III in Georgia.The UK-listed oil and gas company noted that the deal includes a $75 million carry comprising appraisal drilling and early construction for the project.Under the deal, subject to conditions, Block will retain a 49% stake and operatorship during the appraisal phase of Project III while retaining 100% ownership in Projects I, II, and IV.
