Block Energy (LON:BLOE) Hits New 12-Month High – Still a Buy?

Block Energy Plc (LON:BLOE) shares hit a new 52-week high on Wednesday . The stock traded as high as GBX 1.40 and last traded at GBX 1.33, with a volume of 11892162 shares trading hands. The stock had previously closed at GBX 1.20.

Block Energy Stock Performance

The company has a debt-to-equity ratio of 7.70, a quick ratio of 0.71 and a current ratio of 3.26. The stock has a market cap of £11.35 million, a PE ratio of -7.00 and a beta of 0.27. The firm has a fifty day moving average price of GBX 0.80 and a 200 day moving average price of GBX 0.84.

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.