Orca Energy Group Inc. (OTCMKTS:ORXGF) Sees Large Increase in Short Interest

Orca Energy Group Inc. (OTCMKTS:ORXGF) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 14,010 shares, an increase of 84.5% from the September 15th total of 7,595 shares. Based on an average trading volume of 3,825 shares, the days-to-cover ratio is presently 3.7 days.

Orca Energy Group Price Performance

OTCMKTS:ORXGF remained flat at $1.88 during trading hours on Friday. 6,125 shares of the company’s stock traded hands, compared to its average volume of 3,774. Orca Energy Group has a one year low of $1.60 and a one year high of $3.75. The firm has a fifty day simple moving average of $1.83 and a 200 day simple moving average of $2.16.

Orca Energy Group Company Profile

Orca Energy Group Inc is an independent natural gas company focused on the development, production and sale of natural gas in Tanzania. Through its subsidiary, PanAfrican Energy Tanzania Limited, the company operates the Songo Songo gas project, located off the coast of mainland Tanzania.

The Songo Songo project includes offshore production wells, a gas processing facility and related transportation infrastructure. Orca supplies natural gas to Tanzania’s power-generation sector and to industrial and commercial customers, supporting electricity production and the replacement of more expensive liquid fuels.

The company has historically concentrated its operations in Tanzania and has worked with government and local energy-sector entities to expand the use of domestic natural gas.