BlockFuel Energy Announces Multi-Well Vertical Drilling Program for H2 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
BlockFuel Energy announced plans to commence a multi-well vertical drilling program during the second half of 2026 across its approximately 55-square-mile operated position in Oklahoma, targeting multiple stacked hydrocarbon-bearing formations beneath one of the largest operated acreage positions in the Company's portfolio. BlockFuel Energy Inc. is currently 51% owned by Innovation Beverage Group, which has announced a proposed merger of the two companies. The planned campaign represents the first phase of a long-term development strategy designed to unlock management's identified inventory of low-cost, repeatable drilling opportunities across approximately 35,000 acres of operated leasehold. The acreage position includes extensive existing infrastructure, production facilities, gathering systems, power distribution assets and commercial saltwater disposal capacity, providing a foundation for rapid and capital-efficient development. Management believes the Company's acreage is underlain by multiple stacked oil and natural gas reservoirs that have historically produced throughout the Mid-Continent region. These stacked pay intervals create the opportunity to develop numerous productive horizons from the same acreage footprint, potentially amplifying recoverable resource opportunities while minimizing infrastructure requirements.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy IBG?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on IBG
About IBG
Innovation Beverage Group Limited is an Australia-based developer, manufacturer, marketer, exporter, and retailer of a growing beverage portfolio. The Company has approximately 60 formulations across 13 alcoholic and non-alcoholic brands for which it owns exclusive manufacturing rights. Its focus is on premium and super premium brands. The Company’s brands include Australian Bitters, BITTERTALES, Drummerboy Spirits, Twisted Shaker, and more. The Twisted Shaker range of bottled cocktails includes five different mixes, including Tequila Margarita, Cucumber Gimlet, Raspberry Hibiscus Cosmopolitan, Espresso Martini and the Whiskey Old Fashioned.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Innovation Beverage Group Receives Nasdaq Delinquency Notice
- Delinquency Notice: Innovation Beverage Group received a Nasdaq delinquency notice for failing to timely file its FY2025 annual report, dated May 19, 2026, indicating non-compliance with Nasdaq listing rules, which could impact its market reputation.
- Compliance Plan Deadline: The company has 60 calendar days, until July 20, 2026, to submit a compliance plan to regain compliance; if Nasdaq accepts the plan, it could receive an extension until November 11, 2026, to file the report, allowing more time for resolution.
- Stock Price Reaction: Following this announcement, IBG shares fell 5.9% in premarket trading, reflecting market concerns over the company's compliance capabilities, which may affect investor confidence and future financing opportunities.
- Acquisition and Financing Moves: Despite compliance challenges, Innovation Beverage Group recently announced the acquisition of a controlling interest in BlockFuel Energy and priced a $6 million public offering, demonstrating a proactive approach to business expansion, although compliance issues may pressure its financing plans.
See More
Innovation Beverage Group Acquires Controlling Interest in BlockFuel Energy
- Acquisition of Control: Innovation Beverage Group (IBG) has acquired a 51% stake in BlockFuel Energy, marking a significant milestone towards the anticipated merger, which is expected to close in the coming weeks.
- Share Exchange Agreement: Under the Share Exchange Agreement signed on March 16, IBG exchanged 127,628 shares of BFE common stock and issued warrants for 3.81 million shares at an exercise price of $0.0001, contingent on shareholder and Nasdaq approval.
- Financial Support: IBG provided BlockFuel Energy with a $2.5 million unsecured loan, facilitating the repurchase and cancellation of certain outstanding shares, thereby strengthening BFE's financial position.
- Future Strategic Direction: Post-merger, the combined entity will operate under the BlockFuel Energy name, with IBG's beverage business transitioning into an Australian subsidiary, focusing on scaling its U.S. onshore oil and gas operations, indicating a strategic pivot towards the energy market.
See More
INNOVATION BEVERAGE GROUP LTD - MERGED ENTITY TO FUNCTION UNDER BLOCKFUEL ENERGY BRAND
Company Overview: Innovation Beverage Group Ltd has combined its operations to enhance efficiency and streamline its business model.
New Energy Focus: The company will now operate under the name Block Fuel Energy, indicating a shift towards energy solutions.
See More
INNOVATION BEVERAGE GROUP LTD ACQUIRES 51% OWNERSHIP IN BLOCKFUEL ENERGY
- Acquisition Announcement: Innovation Beverage Group Ltd has acquired a 51% stake in Block Fuel Energy.
- Strategic Move: This acquisition is part of Innovation Beverage's strategy to expand its portfolio in the energy sector.
See More
Innovation Beverage Group Prices Public Offering at $6M
- Offering Pricing: Innovation Beverage Group announced the pricing of its public offering, expecting gross proceeds of approximately $6 million by issuing 3.43 million common units, each comprising one ordinary share or one pre-funded warrant, with a public offering price of $1.75 per unit.
- Warrant Details: Each warrant is exercisable at $1.75, with Series A and Series B warrants immediately exercisable and set to expire 60 months after the initial issuance date, providing investors with flexible investment options.
- Use of Proceeds: The company plans to allocate $2.5 million of the proceeds for a non-interest-bearing loan to Blockfuel to exercise a call right under a December 24, 2025, securities purchase agreement, with the remainder designated for general corporate purposes and working capital.
- Market Reaction: Despite the seemingly reasonable offering price, the company's stock plummeted by 52.44%, reflecting negative market sentiment towards the financing, which could impact future fundraising capabilities and investor confidence.
See More
U.S. Stocks Rise in Morning Trade Amid Economic Slowdown
- Dow Jones Surge: The Dow Jones Industrial Average gained over 300 points on Friday, rising 0.68% to 46,995.67, indicating a positive market reaction to economic data that may boost investor confidence.
- NASDAQ and S&P 500 Performance: The NASDAQ rose 0.40% to 22,401.88, while the S&P 500 increased by 0.50% to 6,706.16, reflecting strong performances in tech and large-cap stocks, suggesting optimism about future growth.
- Economic Growth Slowdown: According to the Bureau of Economic Analysis, the GDP growth rate for Q4 2025 was revised down to 0.7% from an initial estimate of 1.4%, marking a sharp deceleration from the 4.4% growth pace in Q3, highlighting concerns about economic momentum.
- Commodity Market Fluctuations: Oil prices fell by 1.7% to $94.11, and gold dipped 0.2% to $5,118.00 on Friday, indicating that uncertainties about the economic outlook are impacting commodity prices, potentially leading investors to reassess risks.
See More
Innovation Beverage Group Receives Nasdaq Delinquency Notice
- Delinquency Notice: Innovation Beverage Group received a Nasdaq delinquency notice for failing to timely file its FY2025 annual report, dated May 19, 2026, indicating non-compliance with Nasdaq listing rules, which could impact its market reputation.
- Compliance Plan Deadline: The company has 60 calendar days, until July 20, 2026, to submit a compliance plan to regain compliance; if Nasdaq accepts the plan, it could receive an extension until November 11, 2026, to file the report, allowing more time for resolution.
- Stock Price Reaction: Following this announcement, IBG shares fell 5.9% in premarket trading, reflecting market concerns over the company's compliance capabilities, which may affect investor confidence and future financing opportunities.
- Acquisition and Financing Moves: Despite compliance challenges, Innovation Beverage Group recently announced the acquisition of a controlling interest in BlockFuel Energy and priced a $6 million public offering, demonstrating a proactive approach to business expansion, although compliance issues may pressure its financing plans.
See More
Innovation Beverage Group Acquires Controlling Interest in BlockFuel Energy
- Acquisition of Control: Innovation Beverage Group (IBG) has acquired a 51% stake in BlockFuel Energy, marking a significant milestone towards the anticipated merger, which is expected to close in the coming weeks.
- Share Exchange Agreement: Under the Share Exchange Agreement signed on March 16, IBG exchanged 127,628 shares of BFE common stock and issued warrants for 3.81 million shares at an exercise price of $0.0001, contingent on shareholder and Nasdaq approval.
- Financial Support: IBG provided BlockFuel Energy with a $2.5 million unsecured loan, facilitating the repurchase and cancellation of certain outstanding shares, thereby strengthening BFE's financial position.
- Future Strategic Direction: Post-merger, the combined entity will operate under the BlockFuel Energy name, with IBG's beverage business transitioning into an Australian subsidiary, focusing on scaling its U.S. onshore oil and gas operations, indicating a strategic pivot towards the energy market.
See More
INNOVATION BEVERAGE GROUP LTD - MERGED ENTITY TO FUNCTION UNDER BLOCKFUEL ENERGY BRAND
Company Overview: Innovation Beverage Group Ltd has combined its operations to enhance efficiency and streamline its business model.
New Energy Focus: The company will now operate under the name Block Fuel Energy, indicating a shift towards energy solutions.
See More
INNOVATION BEVERAGE GROUP LTD ACQUIRES 51% OWNERSHIP IN BLOCKFUEL ENERGY
- Acquisition Announcement: Innovation Beverage Group Ltd has acquired a 51% stake in Block Fuel Energy.
- Strategic Move: This acquisition is part of Innovation Beverage's strategy to expand its portfolio in the energy sector.
See More
Innovation Beverage Group Prices Public Offering at $6M
- Offering Pricing: Innovation Beverage Group announced the pricing of its public offering, expecting gross proceeds of approximately $6 million by issuing 3.43 million common units, each comprising one ordinary share or one pre-funded warrant, with a public offering price of $1.75 per unit.
- Warrant Details: Each warrant is exercisable at $1.75, with Series A and Series B warrants immediately exercisable and set to expire 60 months after the initial issuance date, providing investors with flexible investment options.
- Use of Proceeds: The company plans to allocate $2.5 million of the proceeds for a non-interest-bearing loan to Blockfuel to exercise a call right under a December 24, 2025, securities purchase agreement, with the remainder designated for general corporate purposes and working capital.
- Market Reaction: Despite the seemingly reasonable offering price, the company's stock plummeted by 52.44%, reflecting negative market sentiment towards the financing, which could impact future fundraising capabilities and investor confidence.
See More
U.S. Stocks Rise in Morning Trade Amid Economic Slowdown
- Dow Jones Surge: The Dow Jones Industrial Average gained over 300 points on Friday, rising 0.68% to 46,995.67, indicating a positive market reaction to economic data that may boost investor confidence.
- NASDAQ and S&P 500 Performance: The NASDAQ rose 0.40% to 22,401.88, while the S&P 500 increased by 0.50% to 6,706.16, reflecting strong performances in tech and large-cap stocks, suggesting optimism about future growth.
- Economic Growth Slowdown: According to the Bureau of Economic Analysis, the GDP growth rate for Q4 2025 was revised down to 0.7% from an initial estimate of 1.4%, marking a sharp deceleration from the 4.4% growth pace in Q3, highlighting concerns about economic momentum.
- Commodity Market Fluctuations: Oil prices fell by 1.7% to $94.11, and gold dipped 0.2% to $5,118.00 on Friday, indicating that uncertainties about the economic outlook are impacting commodity prices, potentially leading investors to reassess risks.
See More
