Orcadian Energy (LON:ORCA) Stock Price Up 17.6% – What’s Next?

Orcadian Energy Plc (LON:ORCA) shares were up 17.6% on Friday . The stock traded as high as GBX 20 and last traded at GBX 20. Approximately 587,505 shares were traded during trading, an increase of 217% from the average daily volume of 185,532 shares. The stock had previously closed at GBX 17.

Orcadian Energy Stock Performance

The company has a current ratio of 0.12, a quick ratio of 3.06 and a debt-to-equity ratio of 172.81. The company has a market capitalization of £15.84 million, a price-to-earnings ratio of -17.39 and a beta of -2.29. The stock’s fifty day simple moving average is GBX 13.65 and its 200-day simple moving average is GBX 15.42.

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.