Jersey Oil and Gas (LON:JOG) Trading 16.5% Higher – Here’s What Happened

Jersey Oil and Gas Plc (LON:JOG)’s stock price was up 16.5% on Wednesday . The stock traded as high as GBX 73.95 ($0.91) and last traded at GBX 73.95 ($0.91). Approximately 267,756 shares changed hands during trading, an increase of 78% from the average daily volume of 150,495 shares. The stock had previously closed at GBX 63.50 ($0.78).

Jersey Oil and Gas Stock Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 69.26 and a quick ratio of 18.80. The company has a market capitalization of £22.93 million, a P/E ratio of -438.75 and a beta of 0.96. The business has a 50-day moving average of GBX 57.94 and a 200-day moving average of GBX 68.62.

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.