Orcadian Energy (LON:ORCA) Shares Down 16.6% – Time to Sell?

Orcadian Energy Plc (LON:ORCA)’s stock price fell 16.6% during mid-day trading on Monday. The stock traded as low as GBX 13 and last traded at GBX 14. Approximately 116,155 shares were traded during mid-day trading, a decline of 30% from the average session volume of 165,282 shares. The stock had previously closed at GBX 16.78.

Orcadian Energy Stock 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 firm has a market cap of £11.24 million, a P/E ratio of -12.17 and a beta of -2.29. The stock’s 50-day moving average is GBX 16.18 and its 200 day moving average is GBX 15.11.

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. 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.