Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
---|---|---|---|---|---|
Income Statement | |||||
Total Revenue | 7.53M | 8.37M | 8.26M | 6.11M | 1.25M |
Gross Profit | 2.78M | 3.17M | 2.31M | 231.00K | -1.73M |
EBITDA | 858.00K | -909.00K | 415.00K | -1.79M | -4.72M |
Net Income | -609.00K | -2.21M | -1.61M | -4.78M | -5.51M |
Balance Sheet | |||||
Total Assets | 29.48M | 29.96M | 30.62M | 30.93M | 34.01M |
Cash, Cash Equivalents and Short-Term Investments | 1.14M | 713.00K | 450.00K | 1.24M | 6.33M |
Total Debt | 2.00M | 2.00M | 0.00 | 0.00 | 0.00 |
Total Liabilities | 4.17M | 4.26M | 3.42M | 3.86M | 4.32M |
Stockholders Equity | 25.31M | 25.71M | 27.20M | 27.07M | 29.69M |
Cash Flow | |||||
Free Cash Flow | 734.00K | -1.52M | -1.21M | -6.97M | -5.81M |
Operating Cash Flow | 1.40M | 1.57M | 1.52M | -565.00K | -3.19M |
Investing Cash Flow | -657.00K | -3.06M | -2.45M | -6.12M | -2.60M |
Financing Cash Flow | -311.00K | 1.75M | -1.00K | 1.46M | 5.34M |
Block Energy plc has finalized negotiations for the farmout of its XIQ license, part of Project IV in Georgia, to a leading international exploration and production company. The agreement, pending government approval, allows the partner to acquire up to a 75% interest in the license, with an option to increase to 92.5% following a work program involving 3D seismic and drilling. This development marks a significant milestone for Block Energy, potentially unlocking the XIQ’s resource potential and providing momentum for other projects.
The most recent analyst rating on (GB:BLOE) stock is a Hold 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.
Block Energy plc has successfully completed its initial CO2 injection as part of its Carbon Capture Storage project in Georgia, marking the first successful pilot of its kind in Eastern Europe. This milestone positions Block Energy as a leader in low-cost CCS technology, paving the way for commercial opportunities and collaborations with industrial partners and carbon markets. The pilot aims to demonstrate the viability of large-scale CO2 mineralisation, potentially offering solutions for carbon emissions reduction in Georgia and beyond. The project aligns with EU carbon regulations and reflects a commitment to sustainable industrial practices.
The most recent analyst rating on (GB:BLOE) stock is a Hold 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.
Block Energy plc has provided an update on its multi-project portfolio, highlighting progress in farmouts, Carbon Capture and Storage (CCS), drilling activities, and new ventures. The company is advancing discussions on farmouts for Projects III and IV, with promising technical and commercial alignment. The CCS pilot, set to commence injection operations this quarter, could position Block as a leader in mineralisation-based CO₂ storage in the region. Additionally, the company plans to implement a cost-effective ‘slim hole’ drilling technique in Project I, potentially unlocking further low-cost drilling opportunities. Block Energy remains focused on capital-efficient growth, both within Georgia and internationally.
Block Energy plc announced that all resolutions at its Annual General Meeting were approved by shareholders, indicating strong support for the company’s strategic direction. This approval reinforces Block Energy’s position in the energy sector, particularly in Georgia, and supports its ongoing projects and strategic goals, potentially impacting stakeholders positively by enhancing production and development activities.