Block Energy (LON:BLOE) Stock Price Up 12.9% – Here’s Why

Block Energy Plc (LON:BLOE)’s stock price traded up 12.9% during mid-day trading on Tuesday . The company traded as high as GBX 0.79 and last traded at GBX 0.79. 2,025,664 shares were traded during mid-day trading, an increase of 17% from the average session volume of 1,725,623 shares. The stock had previously closed at GBX 0.70.

Block Energy Stock Performance

The company has a debt-to-equity ratio of 7.70, a current ratio of 3.26 and a quick ratio of 0.71. The company has a 50 day simple moving average of GBX 0.76 and a 200-day simple moving average of GBX 0.85. The stock has a market capitalization of £7.93 million, a P/E ratio of -4.93 and a beta of 0.27.

About Block Energy

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.