Orcadian Energy (LON:ORCA) Shares Up 9.8% – Here’s What Happened

Orcadian Energy Plc (LON:ORCA) rose 9.8% during trading on Friday . The company traded as high as GBX 14 and last traded at GBX 14. Approximately 98,978 shares traded hands during trading, an increase of 205% from the average daily volume of 32,405 shares. The stock had previously closed at GBX 12.75.

Orcadian Energy Trading Up 17.6%

The company has a market cap of £11.85 million, a price-to-earnings ratio of -13.39 and a beta of -2.29. The company has a debt-to-equity ratio of 47.53, a current ratio of 0.10 and a quick ratio of 3.06. The business has a 50 day simple moving average of GBX 13.93 and a 200 day simple moving average of GBX 11.19.

Orcadian Energy (LON:ORCA) last announced its earnings results on Friday, January 2nd. The company reported GBX (1.12) EPS for the quarter. Orcadian Energy had a negative net margin of 925.42% and a negative return on equity of 49.59%.

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.