Block Energy Proves CCS Feasibility at Georgian Patardzeuli Field

An update from Block Energy Plc ( (GB:BLOE) ) is now available.

Block Energy has completed a carbon capture and storage pilot at the Patardzeuli Field in Georgia, with independent analysis from Oilfield Production Consultants confirming the technical viability of permanently storing carbon dioxide in the Middle Eocene reservoir. The pilot involved injecting 13.64 tonnes of carbon dioxide dissolved in water, with monitoring and laboratory tests indicating rapid mineralisation into stable carbonate minerals within one to three months and no evidence of gas migration or leakage.

The study highlights favourable geological and operational conditions, including reactive volcaniclastic rocks, zeolite-rich formations, and under-pressured reservoirs that lower injection energy needs and allow use of existing legacy wells. On the back of these results, Block Energy and joint venture partner Rustavi Azot, part of Indorama Corporation, are moving to a feasibility phase to assess the scalability, regulatory alignment and commercial potential of full-scale CCS operations, a step that could support industrial decarbonisation efforts and open a new low-cost, infrastructure-led revenue stream for the company.

The most recent analyst rating on (GB:BLOE) stock is a Buy with a £1.00 price target. To see the full list of analyst forecasts on Block Energy Plc stock, see the GB:BLOE Stock Forecast page.

Spark’s Take on GB:BLOE Stock

According to Spark, TipRanks’ AI Analyst, GB:BLOE is a Neutral.

The score is held back primarily by declining revenue and ongoing losses (negative margins and negative ROE), alongside a weak/less-informative valuation signal from the negative P/E. Offsetting factors include a strong capital structure with low leverage and improving cash flow, plus bullish price momentum—though the very high RSI suggests the recent move may be overextended.

To see Spark’s full report on GB:BLOE stock, click here.

More about Block Energy Plc

Block Energy plc is an AIM-quoted independent oil and gas production and development company focused on Georgia, with interests in seven Production Sharing Contracts over 4,256 km² in central Georgia. Its portfolio includes the XIB licence, holding significant contingent gas resources positioned to supply the EU market, and a four-project strategy aimed at boosting production, redeveloping fields, and unlocking large untapped gas reserves near Tbilisi.

Average Trading Volume: 6,401,558

Technical Sentiment Signal: Hold

Current Market Cap: £9.9M

For an in-depth examination of BLOE stock, go to TipRanks’ Overview page.