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

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

Block Energy Price Performance

The firm has a market cap 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. The firm has a 50-day simple moving average of GBX 0.75 and a 200 day simple moving average of GBX 0.83.

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.