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Innovation Beverage Group Ltd. ( (IBG) ) has provided an announcement.
On April 30, 2026, Innovation Beverage Group and its proposed merger partner BlockFuel Energy announced the completion of an independent reserve report effective December 31, 2025, for BlockFuel’s Central Oklahoma oil and gas assets. The report, prepared while operations were temporarily shut-in, underpins BlockFuel’s development strategy and validates the scale and quality of its approximately 35,000-acre position.
Since the effective date of the reserve report, BlockFuel has returned 19 wells to production, confirming field infrastructure and re-establishing cash flow. The company has launched a multi-phase plan that includes an ongoing reactivation phase, a recompletion program starting May 2026 targeting the shallower Mississippi Lime formation in up to 34 existing wells, and new drilling of eight vertical wells in 2026 with as many as 20 more in 2027–2028.
BlockFuel has mapped more than 200 potential drilling locations with estimated recoveries of up to 65,000 barrels of oil equivalent per vertical well and benefits from extensive existing infrastructure, including gathering, storage and nine saltwater disposal wells. The detailed development roadmap and third-party reserve validation strengthen BlockFuel’s operational profile and provide a technical and economic foundation for the proposed merger with Innovation Beverage Group, with completion still subject to customary closing conditions.
More about Innovation Beverage Group Ltd.
Innovation Beverage Group Ltd. is an Australian-based developer, manufacturer, marketer, exporter and retailer of a portfolio of 60 alcoholic and non-alcoholic beverage formulations across 13 brands, focused on premium and super-premium segments. Founded in 2018 and headquartered in Sydney with a U.S. sales office in California, it owns exclusive manufacturing rights to brands including Australian Bitters, BITTERTALES, Drummerboy Spirits and Twisted Shaker.
Average Trading Volume: 690,108
Technical Sentiment Signal: Sell
Current Market Cap: $2.02M
Find detailed analytics on IBG stock on TipRanks’ Stock Analysis page.