Block Energy (LON:BLOE) Stock Price Up 21.5% – Here’s Why

Block Energy Plc (LON:BLOE) traded up 21.5% during trading on Monday . The stock traded as high as GBX 1.18 and last traded at GBX 1.18. 26,787,346 shares traded hands during trading, an increase of 126% from the average session volume of 11,857,494 shares. The stock had previously closed at GBX 0.97.

Block Energy Price Performance

The business’s 50 day moving average is GBX 0.75 and its two-hundred day moving average is GBX 0.83. The firm has a market capitalization of £11.93 million, a PE ratio of -7.35 and a beta of 0.27. The company has a debt-to-equity ratio of 7.70, a current ratio of 3.26 and a quick ratio of 0.71.

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.