Jersey Oil and Gas (LON:JOG) Shares Climb 13.3% – What’s Next?

Jersey Oil and Gas Plc (LON:JOG) shares shot up 13.3% on Monday. The stock traded as high as GBX 120 and last traded at GBX 118.40. Approximately 443,804 shares were traded during mid-day trading, an increase of 240% from the average session volume of 130,540 shares. The stock had previously closed at GBX 104.50.

Jersey Oil and Gas Stock Performance

The firm has a market cap of £42.47 million, a price-to-earnings ratio of -23.05 and a beta of 0.03. The business’s 50 day moving average price is GBX 106.75 and its 200-day moving average price is GBX 105.99.

Jersey Oil and Gas (LON:JOG) last issued its quarterly earnings results on Tuesday, September 29th. The company reported GBX (2.53) EPS for the quarter. On average, analysts forecast that Jersey Oil and Gas Plc will post -1040.47 earnings per share for the current fiscal year.

Jersey Oil and Gas Company Profile

Jersey Oil & Gas is a UK E&P company focused on building an upstream oil and gas business in the North Sea. The Company holds a significant acreage position within the Central North Sea referred to as the Greater Buchan Area, which includes operatorship and 100% working interests in blocks that contain the Buchan oil field and J2 and Glenn oil discoveries and an 88% working interest in the P2170 Licence, Blocks 20/5b & 21/1d, that contains the Verbier oil discovery.

JOG’s acreage is estimated by management to contain more than 140 million barrels of oil equivalent (“boe”) of discovered mean recoverable resources net to JOG, in addition to significant exploration upside potential.