Orcadian Energy (LON:ORCA) Stock Price Up 6% – Here’s What Happened

Shares of Orcadian Energy Plc (LON:ORCA) shot up 6% on Tuesday . The stock traded as high as GBX 11 ($0.15) and last traded at GBX 10.60 ($0.14). 190,206 shares changed hands during trading, an increase of 271% from the average session volume of 51,334 shares. The stock had previously closed at GBX 10 ($0.14).

Orcadian Energy Stock Performance

The company has a market cap of £8.53 million, a PE ratio of -6.27 and a beta of -2.29. The company has a current ratio of 0.10, a quick ratio of 3.06 and a debt-to-equity ratio of 47.53. The firm has a fifty day moving average of GBX 10.08 and a two-hundred day moving average of GBX 9.65.

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.