Orcadian Energy Plc (LON:ORCA – Get Free Report) shares were up 14.3% during mid-day trading on Wednesday. The stock traded as high as GBX 17 and last traded at GBX 16. 423,838 shares were traded during mid-day trading, an increase of 165% from the average session volume of 160,121 shares. The stock had previously closed at GBX 14.
Orcadian Energy Stock Up 14.3%
The company has a debt-to-equity ratio of 172.81, a quick ratio of 3.06 and a current ratio of 0.12. The firm’s fifty day simple moving average is GBX 15.83 and its 200 day simple moving average is GBX 15.08. The stock has a market capitalization of £12.84 million, a price-to-earnings ratio of -13.91 and a beta of -2.29.
About Orcadian Energy
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.
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