Jersey Oil and Gas (LON:JOG) Trading 11.1% Higher – What’s Next?

Jersey Oil and Gas Plc (LON:JOG)’s share price traded up 11.1% during mid-day trading on Wednesday . The company traded as high as GBX 111 and last traded at GBX 110. 232,441 shares changed hands during mid-day trading, an increase of 115% from the average session volume of 107,981 shares. The stock had previously closed at GBX 99.

Jersey Oil and Gas Trading Up 23.2%

The firm has a market capitalization of £39.85 million, a P/E ratio of -24.70 and a beta of 0.96. The business’s 50-day moving average is GBX 91.26 and its 200 day moving average is GBX 113.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 69.26 and a quick ratio of 18.80.

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.