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Block Energy has increased its previously announced loan facility to provide liquidity to maintain momentum around scheduled crude liftings allowing the Company to accelerate the procurement of materials for the drilling of its next Project I wells in Georgia. ....
Block Energy has closed a senior secured loan facility of USD 1.06 million with various existing shareholders and members of Block s management team. The funds raised provide the Company with additional headroom to accelerate its Project I development programme in Georgia. ....