Block Energy Plc (GB:BLOE) has released an update.
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Block Energy Plc reports stable operational performance and strategic progress in its interim results for the first half of 2024, with an increase in EBITDA to $645,000 and a marginal profit compared to a loss in the previous year. The company has completed significant contingent resource assessments for Project III, launched a farm-out campaign, and engaged in a carbon capture storage project with JSC Rustavi Azot. Despite a dip in production rates, the company has remained cashflow positive and improved production after a workover.
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