Orcadian Energy (LON:ORCA) Trading 4.8% Higher – Should You Buy?

Orcadian Energy Plc (LON:ORCA) shot up 4.8% on Monday . The stock traded as high as GBX 10.50 ($0.13) and last traded at GBX 10.20 ($0.13). 30,351 shares traded hands during trading, a decline of 21% from the average session volume of 38,449 shares. The stock had previously closed at GBX 9.74 ($0.12).

Orcadian Energy Trading Up 4.5 %

The firm has a market capitalization of £8.30 million, a P/E ratio of -525.00 and a beta of -2.29. The firm has a fifty day simple moving average of GBX 8.12 and a two-hundred day simple moving average of GBX 7.96. The company has a debt-to-equity ratio of 38.75, a current ratio of 0.25 and a quick ratio of 3.06.

About Orcadian Energy

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.