Company Announcements

19 September 2025

Block Energy plc

("Block" or the "Company")

Spud of KRT-39ST

Block Energy plc, the development and production company focused on Georgia, is pleased to announce the spud of KRT-39ST.

As announced on the 12^th August 2025, KRT-39ST is being drilled as a pilot of the new 'slim hole' technology, which sees the well being drilled and completed for approximately 40% of the cost of Block's previous 'conventional' sidetracks.

Should the pilot be successful, the technology has scope for application on both Project I and Project II.

**ENDS**

For further information please visit http://www.blockenergy.co.uk/ or contact:

Notes to editors

Block Energy plc is an AIM quoted independent oil and gas production and development company focused on unlocking Georgia's energy potential. The Company holds interests in seven Production Sharing Contracts across central Georgia, covering an area of 4,256 km², including the XIB licence which has over 2.77TCF of 2C contingent gas resources, with an estimated Net Present Value 10 ("NPV¹⁰") of USD 1.65 billion. (Source: IER, OPC 2024 & Internal estimates).

Block is pursuing a four-project strategy to grow production, redevelop legacy fields, explore new deposits, and unlock its multi-TCF gas potential - positioning Georgia as a strategically located hub for European markets. Alongside this, the Company is advancing a carbon capture and storage (CCS) pilot test in Georgia, the first of its kind in the region, as part of its commitment to low-carbon solutions.

Located near the Georgian capital of Tbilisi, Block Energy is well-positioned to contribute significantly to the region's energy landscape. This proximity facilitates seamless operations and underscores our commitment to the economic and energy development of Georgia.