Orcadian Energy (LON:ORCA) Stock Price Up 6.2% – Time to Buy?

Orcadian Energy Plc (LON:ORCA)’s share price traded up 6.2% on Friday . The stock traded as high as GBX 17.98 and last traded at GBX 17. Approximately 215,841 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 179,277 shares. The stock had previously closed at GBX 16.

Orcadian Energy Stock Up 6.2%

The stock’s fifty day simple moving average is GBX 14.22 and its 200-day simple moving average is GBX 14.97. The stock has a market cap of £13.64 million, a P/E ratio of -14.78 and a beta of -2.29. The company has a debt-to-equity ratio of 172.81, a quick ratio of 3.06 and a current ratio of 0.12.

Orcadian Energy Company Profile

Orcadian’s strategy is to secure discovered resources at low cost and to transform those resources into reserves and onto production

The Pilot field is our key asset. The field is well appraised and ready for development, Orcadian has selected, as the very best development concept, a low salinity polymer flood with two wellhead platforms, a dedicated FPSO, and a floating wind turbine.

Pilot is very well appraised with high quality modern 3D seismic and seven reservoir penetrations. The field has 79mmbbls of proven plus probable reserves, based upon the low salinity polymer flood development plan described in the concept select report submitted to the OGA in September of 2020.