Block Energy’s Georgian CCS Pilot Achieves Up to 100% CO2 Mineralisation, Paving Way for Scale-Up

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

Block Energy has reported highly encouraging initial results from its Phase 1 carbon capture and storage pilot in Georgia, where post-injection sampling and independent laboratory analysis indicate that 70%–100% of the 13.6 tonnes of CO2 injected in August into the Middle Eocene reservoir at the Patardzeuli field has mineralised into solid carbonate minerals within three months. No gaseous CO2 was detected at the surface, and tracer data combined with geochemical interpretation from technical adviser OPC confirm rapid in-reservoir mineralisation and permanent storage, significantly de‑risking the project and providing a strong technical basis for scaling up to a field-wide CCS scheme. Early assessments suggest the reservoir could store around 151.5 million tonnes of CO2 through mineralisation, and Block, together with JV partner Rustavi Azot of Indorama Corporation, will now refine storage capacity and injection rates, seek independent certification of the permanent storage, and evaluate commercial pathways including third‑party storage and integration with industrial emitters, positioning the company as a potential provider of high‑integrity CCS solutions for hard‑to‑abate sectors in Georgia’s industrial heartland.

The most recent analyst rating on (GB:BLOE) stock is a Hold with a £0.65 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.

Block Energy Plc’s overall stock score reflects significant financial and valuation challenges. The company’s declining revenues, negative profitability, and bearish technical indicators weigh heavily on its score. While the balance sheet is strong, the lack of earnings and dividend yield further impacts its attractiveness.

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 unlocking the energy potential of Georgia. The group holds interests in seven Production Sharing Contracts in central Georgia, including the Patardzueli-Samgori, Rustavi and Teleti fields and the XIB licence, which contains substantial contingent gas resources aimed at supplying the EU market. Its four-project strategy pursues parallel initiatives to boost existing production, redevelop mature fields, discover new oil and gas deposits and monetise large untapped gas resources, leveraging existing brownfield infrastructure near Tbilisi and partner funding to support growth.

Average Trading Volume: 2,389,151

Technical Sentiment Signal: Sell

Current Market Cap: £8.03M

See more data about BLOE stock on TipRanks’ Stock Analysis page.