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Block Energy PLC - Georgia-focused oil and gas company - Announces spud of KRT-39ST. The well is being drilled as a pilot of the new ’slim hole’ technology, which sees it being drilled and completed for around 40% of the cost of the block’s previous ’conventional’ sidetracks. ‘Should the pilot be successful, the technology has scope for application on both project I and project II,’ Block Energy says.
Current stock price: 0.95 pence per share, up 11% on Friday afternoon in London
12-month change: up 11%
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