Orcadian Energy (LON:ORCA) Trading Down 13.6% – What’s Next?

Orcadian Energy Plc (LON:ORCA)’s share price was down 13.6% during mid-day trading on Monday . The stock traded as low as GBX 17 and last traded at GBX 17.29. Approximately 438,431 shares were traded during mid-day trading, an increase of 133% from the average session volume of 188,391 shares. The stock had previously closed at GBX 20.

Orcadian Energy Price Performance

The company has a quick ratio of 3.06, a current ratio of 0.12 and a debt-to-equity ratio of 172.81. The company has a 50 day moving average of GBX 13.65 and a two-hundred day moving average of GBX 15.43. The firm has a market cap of £13.69 million, a P/E ratio of -15.03 and a beta of -2.29.

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.