Block Energy Plc (LSE:BLOE) is an AIM listed oil and gas company with a portfolio of production and development assets, all of which are previously discovered fields, located in the Republic of Georgia.
Block Energy was admitted to AIM in June 2018 when it raised £5 million in equity by issuing 125 million new ordinary shares at a price of 4 pence per share. The implied market value of the company at that date was £10.3 million.
In September 2020, the company had c. 437 million shares in issue and the BLOE share price was 2.75 pence, giving it a market cap of c. £12 million.
Investment review of Block Energy
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