BLOCK ENERGY PLC (“BLOCK”)
Mayan holds 8,510,341 ordinary shares, which represents 3.29% of the entire issued share capital of Block Energy Plc. Block Energy is listed on the AIM market as BLOE. Block Energy is an asset-backed revenue generative junior oil and gas company aiming to capitalise on first mover advantage to build the largest independent producer in Georgia, a proven but underdeveloped oil producing nation increasingly on the radar of the majors. Schlumberger, the world’s largest oilfield services provider, recently acquired a strategic position in the country. Block Energy holds licences in which the company currently has a Working Interest (WI) – Norio (100% WI), Satskhenisi (90% WI), and West Rustavi (currently 20% earning into a 75% WI) – lie close to Schlumberger’s 100% owned strategic position in the Kura basin, which at its peak produced ~70,000bopd in Georgia and is estimated to hold more than seven billion barrels of proven reserves in Azerbaijan and Russia’s North Caucasus. .