Block Energy (LON:BLOE) Shares Down 2% – What’s Next?

Block Energy Plc (LON:BLOE) shares fell 2% during trading on Tuesday . The company traded as low as GBX 1.15 and last traded at GBX 1.20. 12,194,315 shares were traded during trading, a decline of 7% from the average session volume of 13,044,966 shares. The stock had previously closed at GBX 1.23.

Block Energy Stock Performance

The firm has a market cap of £12.14 million, a PE ratio of -7.49 and a beta of 0.27. The company has a quick ratio of 0.71, a current ratio of 3.26 and a debt-to-equity ratio of 7.70. The company has a 50-day simple moving average of GBX 0.76 and a two-hundred day simple moving average of GBX 0.83.

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.