Today’s guest on the ValueTheMarkets podcast, is Paul Haywood, Chief Executive Officer of Block Energy (LSE:BLOE). Block is using new technology to drill previously discovered oil and gas fields in Georgia and announced in April that its 16az well had exceptional flow rates of over 1000bbls/d. Block is cashed up to accelerate its drilling campaign after raising £12m in May. Paul outlines the company’s drilling forthcoming plans and the ramp up in production since the firm secured storage for up to 90,000 barrels of oil near the West Rustavi field.
Iron ore prices have skyrocketed in the past year. Can this continue or will supply and demand help the base metal stabilize in 2021?