Block Energy Plc (GB:BLOE) has released an update.
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Block Energy plc, a production and development company operating in Georgia, has reported strong performance with July 2024 production rates exceeding expectations at 534 boepd, while remaining cashflow positive throughout the year. The company has successfully extended its $2 million senior secured loan facility to February 2026, maintaining the loan’s previous terms and interest rate. This extension is aimed at bolstering the working capital and supporting strategic investments, which are expected to drive growth and shareholder value.
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