OPHIR ENERGY PL/ADR (OTCMKTS:OPHRY) Shares Up 5.7% – Time to Buy?

OPHIR ENERGY PL/ADR (OTCMKTS:OPHRY) shot up 5.7% during mid-day trading on Tuesday. The stock traded as high as $1.48 and last traded at $1.48. 2,000 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 116,436 shares. The stock had previously closed at $1.40.

OPHIR ENERGY PL/ADR Price Performance

The firm’s 50 day moving average price is $1.48 and its 200-day moving average price is $1.48.

OPHIR ENERGY PL/ADR Company Profile

Ophir Energy plc was an independent oil and gas exploration and production company headquartered in London, United Kingdom. The company focused on identifying, developing and producing hydrocarbon resources, with its activities concentrated primarily in emerging energy markets.

Ophir’s exploration portfolio included offshore and onshore interests in Africa and Southeast Asia, including projects in Tanzania, Equatorial Guinea, Gabon and Myanmar. Its operations involved seismic surveying, drilling, appraisal and the development of oil and natural gas assets, often through partnerships with other energy companies and national oil companies.

Founded in 2004, Ophir became publicly listed in London and also had American depositary shares traded over the counter in the United States.