Block Energy (LON:BLOE) Shares Up 13.3% – Should You Buy?

Block Energy Plc (LON:BLOE)’s share price rose 13.3% on Monday . The stock traded as high as GBX 0.95 and last traded at GBX 0.85. Approximately 9,864,757 shares traded hands during mid-day trading, an increase of 11% from the average daily volume of 8,855,164 shares. The stock had previously closed at GBX 0.75.

Block Energy Trading Down 6.9%

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 business has a fifty day moving average of GBX 0.74 and a 200-day moving average of GBX 0.83. The stock has a market capitalization of £8.48 million, a price-to-earnings ratio of -5.23 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.