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Pin to quick picksBlock Energy P. Share News (BLOE)

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EARNINGS AND TRADING: Block Energy swings to loss on lower oil prices

Tue, 03rd Oct 2023 11:50

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Block Energy PLC - exploration and production company focused on Georgia - Swings to a pretax loss of USD432,000 in the first half of the year from USD627,000 profit a year prior, and revenue drops 15% to USD3.9 million from USD4.6 million the year before. Cites lower-than-average oil prices. Looking ahead, says it remains "on track to deliver its best full-year financial results in history."

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Autins Group PLC - Rugby, Warwickshire-based industrial materials' technology business that specialises in the design, manufacture, and supply of acoustic and thermal products - Sells 50% interest in Indica Automotive Ltd joint venture for GBP300,000 to partner Indica Industries PV. Says this is due to its "restructured approach" to sourcing of foam products in the UK.

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Hellenic Dynamics SA - London-based cultivator and supplier of tetrahydrocannabinol-dominant strains of medical cannabis flowers - Posts effective completion of phase one development at its cultivation facility in Greece and expects first cultivation on or before October 10 under Elgo Dimitra's license, which it signed a memorandum of understanding with back in March. Says it expects to be able to expand total cultivation area. Also inks deal with Nine Lions Bioscience Corp, a Alberta, Canada-based cannabis genetics breeder, to import and cultivate a "selection of [high-Tetrahydrocannabinol] medical cannabis strains" at its Greece facility. Chief Executive Officer Davinder Rai says: "Our partnerships with Elgo Dimitra and Nine Lions further solidify our presence and capabilities in the rapidly growing European medical cannabis industry."

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First Class Metals PLC - Blackburn, England-based mineral exploration company focused on projects in Ontario, Canada - Pretax loss for the first half of the year widens to GBP744,400 from GBP159,778 a year prior, as administrative expenses climbed to GBP693,460. Looking ahead, says completion of fund raise back in June means it is "funded to continue to drive through the exciting planned workstreams ahead."

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CleanTech Lithium PLC - Chile-focused lithium exploration and development company - Says brine samples collected from first well at the Llamara project were depleted in lithium and surface samples show minor lithium enrichment and high-grade boron. Meanwhile, results from the second batch of sampling are pending. Also begins geophysics programme at Salar de Atacama basin.

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Armadale Capital PLC - Africa-focused natural resource projects investor based in London - Reports gain on investments in the first half of the year GBP456,000 compared to a loss of GBP1,000 a year ago. Swings to GBP291,000 pretax profit from GBP152,000 loss.

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By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
13 Sep 2022 17:55

IN BRIEF: Block Energy Chief Financial Officer McAvock to resign

Block Energy PLC - London-based oil and gas company focused in Georgia - Chief Financial Officer William McAvock will resign with effect on September 30, as part of the company's aim to make the position redundant in order to improve efficiency.

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5 Sep 2022 11:07

AIM WINNERS & LOSERS: Avacta gets approval; Jubilee's Roan at capacity

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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5 Sep 2022 10:46

Block Energy shares up as starts drilling at Georgian JSR-01DEEP well

(Alliance News) - Block Energy PLC on Monday said it started drilling at JSR-01DEEP in Georgia, about 26 miles to the east of the nation's capital Tbilisi.

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1 Aug 2022 21:18

Block Energy notes CPR supports future West Rustavi field activity

Block Energy PLC - London-based oil and gas company focused in Georgia - Results from Competent Person's Report covering the Krtsanisi Anticline of the West Rustavi and Krtsanisi oil field, are in support of Block's sub-surface studies, and provides the basis to seek development financing for the next five wells of project I, the development of the Middle Eocene oil reservoir.

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27 Jul 2022 16:11

UK shareholder meetings calendar - next 7 days

Thursday 28 July 
B&M European Value Retail SAAGM
Braemar Shipping Services PLCAGM
CMC Markets PLCAGM
CMC Markets PLCGM re proposed related party transaction
CYBA PLCAGM
De La Rue PLCAGM
discoverIE Group PLCAGM
Eight Capital Partners PLCAGM
Eurasia Mining PLCAGM
GB Group PLCAGM
Global Smaller Companies Trust PLCAGM
Graft Polymer (UK) PLCAGM
Ingenta PLCAGM
Mediclinic International PLCAGM
Octopus Renewables Infrastructure Trust PLCGM re investing in offshore wind farms in core focus
Oxford Instruments PLCAGM
RentGuarantor Holdings PLCAGM
Tate & Lyle PLCAGM
Ted Baker PLCAGM
Friday 29 July 
Eneraqua Technologies PLCAGM
Global Ports Holding PLCGM re elections of Ajini and Iosifakis as directors
Palace Capital PLCAGM
ProCook Group PLCAGM
Record PLCAGM
Rogue Baron PLCAGM
Sirius Real Estate LtdAGM
Standard Chartered PLCGM re approving HY announcement, interim dividend
Monday 1 August 
Cranswick PLCAGM
Tuesday 2 August 
Caffyns PLCAGM
Syncona LtdAGM
Tanfield Group PLCAGM
Wednesday 3 August 
Block Energy PLCAGM
Molten Ventures PLCAGM
Cambium Global Timberland LtdGM re wind-up
John Wood Group PLCGM re Built Environment sale
Sequoia Economic Infrastructure Income Fund LtdAGM
Edenville Energy PLCAGM
RiverFort Global Opportunities PLCAGM
Conduity Capital PLCAGM
Scirocco Energy PLCAGM
D4t4 Solutions PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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26 Jul 2022 15:17

TRADING UPDATES: Lords, Personal revenue up; Block Energy drills well

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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12 Jul 2022 11:36

Block Energy secures licensing rights of Block XI until 2043

(Alliance News) - Block Energy PLC on Tuesday said it has received confirmation from Georgia's State Agency of Oil & Gas that it has completed the minimum work programme in the production sharing contract for Block XI.

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11 Jul 2022 15:52

IN BRIEF: Block Energy revenue falls despite higher production

Block Energy PLC - London-based oil and gas company focused in Georgia - Reports "strong and consistent" second quarter performance in 2022 with average production of 519 barrels of oil equivalent per day, up from 512 boepd in the previous quarter. Revenue, however, falls to USD2.2 million from USD2.4 million. Adds that the preparations for a five-well development plan are complete and ready for execution.

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1 Jul 2022 11:44

Block Energy loss narrows; targets production increase in year ahead

(Alliance News) - Block Energy PLC on Friday reported a narrowed loss as it plans to step up production.

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8 Apr 2022 21:57

TRADING UPDATES: Block Energy ups production; SEEEN wins new customers

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
24 Feb 2022 21:57

TRADING UPDATES: Enwell shuts down operations; i3 ups oil production

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
24 Jan 2022 11:26

AIM WINNERS & LOSERS: Touchstar rises on outlook; Advance Energy sinks

AIM WINNERS & LOSERS: Touchstar rises on outlook; Advance Energy sinks

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24 Jan 2022 10:35

Block Energy rises on success of JKT-01Z well testing in Georgia

Block Energy rises on success of JKT-01Z well testing in Georgia

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11 Jan 2022 11:26

Block Energy jumps following sharp fourth-quarter revenue rise

Block Energy jumps following sharp fourth-quarter revenue rise

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24 Nov 2021 20:17

TRADING UPDATES: Alpha Financial raises outlook; Gateley confident

TRADING UPDATES: Alpha Financial raises outlook; Gateley confident

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