Block Energy (LON:BLOE) Shares Down 13.9% – Should You Sell?

Block Energy Plc (LON:BLOE)’s stock price dropped 13.9% during trading on Thursday . The company traded as low as GBX 0.65 and last traded at GBX 0.65. Approximately 1,572,925 shares changed hands during trading, an increase of 134% from the average daily volume of 672,249 shares. The stock had previously closed at GBX 0.75.

Block Energy Stock Performance

The company has a market capitalization of £6.85 million, a PE ratio of -4.22 and a beta of 0.27. The company has a current ratio of 3.26, a quick ratio of 0.71 and a debt-to-equity ratio of 7.70. The business’s fifty day moving average is GBX 0.74 and its two-hundred day moving average is GBX 0.84.

Block Energy Company Profile

Block Energy plc is an AIM quoted independent oil and gas production and development company with a strategic focus on unlocking the energy potential of Georgia. With interests in seven Production Sharing Contracts in central Georgia, covering an area of 4,256 km2, including the XIB licence which has over 2.77TCF of 2C contingent gas resources, with an estimated Net Present Value 10 (“NPV”) of USD 1.65 billion, in the Patardzueli-Samgori, Rustavi and Teleti fields. (Source: IER, OPC 2024 & Internal estimates).

The Company has structured its operations around a four-project strategy.