Block Energy Exploration in Gabon

planned

London-listed junior Block Energy has struck a conditional deal to enter two exploration blocks offshore Gabon, each hosting oil and gas discoveries. The deal involves entering the Ndjila and Mpari Production Sharing Contracts (PSCs) in the North Gabon basin, covering about 5330 square kilometres, with legacy oil discoveries and exploration upside. Block plans an initial work programme focusing on subsurface interpretation, data integration, and refining the Iguega development concept, with evaluation studies on other discoveries. Block is raising $6 million to finance its entry and can convert a loan into an 85% interest in Pilgrim Exploration, the current operator.