Orcadian Energy (LON:ORCA) Shares Down 7.9% – Time to Sell?

by · The Cerbat Gem

Orcadian Energy Plc (LON:ORCA – Get Free Report) fell 7.9% on Wednesday . The stock traded as low as GBX 13.35 and last traded at GBX 13.35. Approximately 249,631 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 183,261 shares. The stock had previously closed at GBX 14.50.

Orcadian Energy Price Performance

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 business has a 50 day simple moving average of GBX 13.91 and a 200-day simple moving average of GBX 15.36. The firm has a market cap of £10.71 million, a price-to-earnings ratio of -11.61 and a beta of -2.29.

Orcadian Energy Company Profile

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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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