On 28 June 2017, Block Energy (former Goldcrest Resources) announced the acquisition of an up to 75% stake from Georgia Oil and Gas in Block XIf. The deal amounted to USD 100,000 for an initial 5% working interest, USD 500,000 and USD 1 million in shares for the acquisition of further 20% (upon AIM admission), USD 1 million (aggregated) for additional 25% (upon AIM admission) and 25% by performing two sidetracks on designated wells.  As of May 2018, Block Energy had a 5% stake in Block XIf with an option to increase its stake to 75%.  Block XIf was awarded to Georgia Oil and Gas during the tender organized by the Georgian Government on 22 May 2017. Results of the tender were announced on 26 June 2017.  Block XIf is located east of capital Tbilisi (Kura Basin). It was held by Ninotsminda Oil Company a JV between Blake Oil and Gas and MND until February 2015, when the company relinquished the block. The Block holds the West Rustavi oil field. Cumulative production from the block amounts to approximately 35,400 t (260,000 bbl) of oil since production start in 1988. The Block holds 13 wells and 2D seismic coverage amounts to 20 km.
Block Energy (former Goldcrest Resources) announced the acquisition of an up to 75% stake from Georgia Oil and Gas in Block XIf. The deal amounted to USD 100,000 