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|03 Dec 20
||Georgia: Block Energy announces close of accelerated bookbuild and results of fundraising
Block Energy has completed a placing to raise approx. £5.28 million. Funds will be used to implement the first phase of a new, two-phase development strategy, following its acquisition of Schlumberger Rustaveli Company Limited ('SRCL'), which will include the drilling of two wells to further increase production and cashflow from West Rustavi and Block XIB in Georgia.