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TRADING UPDATES: Block Energy 2020 revenue jumps; Kanabo loss narrows
Wed, 2nd Jun 2021 19:10
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Block Energy PLC - development and production company focused on Georgia - Reports revenue for 2020 of USD1.3 million compared to USD310,000 the year ago, resulting in pretax loss of USD5.5 million versus USD6.1 million in 2019. Block Energy says production of oil and gas from the two horizontal wells in its West Rustavi licence area was suspended in April 2020 to avoid selling oil at low prices. Despite that, the company says it sold 34,421 barrels, up from 5,210 barrels the year prior. Meanwhile, on February 15, the company says it has achieved its first gas sales.
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Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;